Experts warn of honey-trap scams and high-return crypto investment promises, urging vigilance online and skepticism toward such schemes.

Authorities say more arrests could follow as raids and financial analyses continue to unravel the network and recover funds.

A fourth arrest has been made in a honey-trap and cryptocurrency investment fraud case in Kanpur, bringing the total to four.

The ongoing investigation has placed four individuals in custody, with one identified as Vipin Kumar, tied to the fraud.

The scheme relied on social media, messaging apps, and bogus trading portals to entice victims with high returns before channeling funds through diverse bank accounts to dodge scrutiny.

Criminals used social media, WhatsApp groups, and fake crypto portals to lure victims with promises of high profits, routing funds through a web of bank accounts across multiple states—Uttar Pradesh, Uttarakhand, Bihar, West Bengal, Andhra Pradesh, and Assam—to conceal the transactions.

The fraud network moved money across several states through numerous bank accounts, creating an opaque trail intended to evade detection.

Four suspects have been arrested, including Vipin Kumar from Bijnor, in a case linked to about ₹45 lakh in fraudulent proceeds, signaling a broader organized network.

The honey-trap crypto investment scam centers on online manipulation where fraudsters build trust via social media to lure victims into fake crypto schemes.

One victim borrowed about ₹1.98 crore to fund the investment, ultimately losing ₹2.52 crore when funds were siphoned into the fraud network.

The borrower took a loan allegedly to buy a flat, but the entire ₹2.52 crore was diverted to accounts controlled by members of the fraud network.

A retired bank manager, Anil Kumar Singh Chauhan, was defrauded of about ₹2.52 crore after a social-media-driven scheme lured him to invest in cryptocurrency, with funds moved through multiple states.