CBI raids 7 locations, arrests 5 persons in sophisticated cyber fraud

News Snapshot:

HPZ Token App was earlier investigated by the Enforcement Directorate (ED). It had named 299 accused persons and entities including 76 Chinese controlled entities in a charge sheet filed under prevention of money laundering act (PMLA) in 2024. CBI said its latest raids are part of its ongoing Operation Chakra-V against cybercrimes, in which online gaming betting companies, cyber criminals, illegal crypto exchanges and financial frauds are being targeted for the past six-seven months. This case, a CBI spokesperson said, has been registered under criminal conspiracy, impersonation and fraud and offences under information technology act and pertains to an elaborate...