Cuttack: Cryptocurrency fraudsters have roots in Odisha. About 1,000 people were lured by this fraudulent racket with the promise of higher profits. About 500 crores were cheated from them. The Cuttack Commissionerate Police have managed to catch the 5 fraudsters while returning from West Bengal. Chowwanganj police have also arrested 27 investors from West Bengal on the charge of kidnapping this fraudster. Police seized 35 mobile phones, 4 cars used in the kidnapping and a wallet for cryptocurrency from the accused. In this regard, the police have registered two cases and are investigating the incident. Among the accused, a resident of Bhubaneswar, Risikesh Khilari, a police officer of Cuttack, informed in the press conference. Taking the incident seriously, the police has intensified the investigation process. The four arrested fraudsters first launched an app called ‘O-To World’ for cryptocurrency transactions. He promised the investors that they will get more profit by meeting in different places. Hundreds of people believed their words and invested millions of rupees in cryptocurrencies. In order to restore confidence in people’s minds, these fraudsters gave money to investors for a few months, pretending to have made a profit. After collecting crores of rupees, they shut down the said app. Investors contacted repeatedly to get back their deposited money, but the fraudsters did not relent. Planning to cheat some more people, these fraudsters launched another app called Iconist for cryptocurrency trading. Through this new app, some more people were cheated by the fraud team. While the investors were looking for them, 5 thieves came and stayed in a hotel in Puri. On getting this information, 27 investors came in a car from West Bengal and kidnapped them from Puri. The cheater was kept alone in a hotel in Shikharpur area under Chauwalganj police station, Cuttack. Pressured the fraudster to return the money. Locals became suspicious after seeing multiple cars with West Bengal numbers in front of the respective hotels. People reported this to the police station. The police arrived and raided the hotel and were able to arrest all 32 people. Later, they were taken into police custody and questioned, and the crypto-cane incident came to light. Based on the complaint of both of them, the police has filed a case of kidnapping against 27 accused, while a case of fraud has been filed against 5 accused and the investigation of the incident is underway. The police also suspected that the accused had actually come to Cuttack in the case of fraud or were planning to commit any crime. On Friday, there is a Bhasana festival of Goddess Kali in Cuttack. The police have been alerted after the Durga Puja Bhasan festival clashes. Police are continuing to investigate the incident based on various aspects. Sec Jigiria, Samiullah Islam, Abdul Halim, Saifuddin Alli, All Amin Alim, Sec Ramiz Alli, Sec Saif Jamiluddin, Subib Mushtaq Malla, Sec Najibul Hussain, Sec Shahidul, Sec Rihajuddin, Sec Shahidul, Sec Rihajuddin, Sec. Kolam Hussain, Zaheed Malla, Sec Hitaiullah, Sec Shahalam, Sec Himtazullah, Sec Sahil, Sec Inzamul, Sec Ghat Asdur Alli, West Bengal Maniruddin Bhunia of West Bengal Medinapur Polar, Naseem Sarfaz of Medinapur, Sec Tahilud Dhamman, Sec Nizamulla Bhaiman, West Bengal Mehboob Malla of Ulberia region. Similarly, in the case of fraud, Sec Habib Malla of West Bengal East Medinapur, Safiullah Islam of Howrah, Rutik Roy, Sec Askar Ali and Sec Mustaq Ahmed of Bhubaneswar Kharbeh. Police said that all the accused were produced in the court on Thursday.