Hyderabad Police Bust Nationwide Cyber Fraud Network in ‘Operation Octopus 2.0’!

Hyderabad Police have dismantled a massive cyber fraud network operating across the country under ‘Operation Octopus 2.0’. In a coordinated crackdown spanning nine states, authorities arrested 52 individuals, including bank officials, for their involvement in large-scale digital scams. The operation primarily targeted those facilitating investment frauds, trading scams, and so-called “digital arrest” schemes used to intimidate and cheat unsuspecting victims.

Investigations revealed that 32 of the accused were bank officials, along with 15 mule account holders and five intermediaries. Several bank employees were found to be colluding with cybercriminals by illegally opening mule accounts to channel fraudulent funds. Led by Hyderabad Cyber Crime DCP V. Aravind Babu and ACP R.G. Shiva Maruthi, 16 special teams carried out the operation. Authorities uncovered that nearly 350 bank accounts were used to divert money linked to around 850 cybercrime cases nationwide, involving fraud worth approximately ₹150 crore.