The gang used to trade cryptocurrencies at dollar selling FB group: DB
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
January 31, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, JANUARY 31, 2023
The gang used to trade cryptocurrencies at dollar selling FB group: DB

Crime

Asadulla Lion
05 August, 2022, 10:10 pm
Last modified: 05 August, 2022, 10:19 pm

Related News

  • Four top bankers arrested in DSA case filed by S Alam group 
  • Crypto crime hits record $20bn in 2022
  • Both DB, RAB now claim Fardin died by suicide
  • How a secret software change allowed FTX to use client money
  • Jamaat Ameer Shafiqur Rahman arrested

The gang used to trade cryptocurrencies at dollar selling FB group: DB

The Cybercrime unit of DB on Monday arrested three people for illegal trade of cryptocurrency

Asadulla Lion
05 August, 2022, 10:10 pm
Last modified: 05 August, 2022, 10:19 pm
A representation of virtual currency Bitcoin and small toy figures are placed on computer motherboard in this illustration taken January 7, 2021. REUTERS/Dado Ruvic/File Phot
A representation of virtual currency Bitcoin and small toy figures are placed on computer motherboard in this illustration taken January 7, 2021. REUTERS/Dado Ruvic/File Phot

A gang of youths, who were arrested recently, used to lure people in the transaction of cryptocurrencies through virtual wallets at a Facebook-based dollar selling group, the Detective Branch (DB) of police said.

Then, after being lured to gain a handsome profit, people from many countries, including Bangladesh, would buy virtual currencies such as Bitcoin and USDT, which is illegal in Bangladesh. 

During cyber patrolling, the cyber and special crime unit of DB noticed that a gang was luring people at a dollar selling group on their Facebook page for trading virtual currencies.

Later on Monday, the cybercrime unit arrested three people – Mehedi Hasan, Sohrab Hossain and Mokhdum Nabin – from Bogura for illegal trade of cryptocurrency through the virtual sphere.

DB police said they identified Mehedi Hasan as the leader of the cryptocurrency-trading ring. He is skilled in technology including trading of cryptocurrencies. Sohrab Hassan and Makhdum Nabin allegedly coordinated the trade. 

Mahidul Islam, ADC at the Cyber and Special Crime unit of DB DMP, the official who supervising the case, told The Business Standard that as the Bangladesh Bank did not monitor or control trading of any kind of virtual coin or cryptocurrency in the country, there are a fear for people of being cheated and become financially loser.

"Besides, we started investigating different illegal transactions including money laundering, financing terrorism through cryptocurrencies such as bitcoin."

The DB cyber team took the three on a three-day remand for interrogation. People who are investigating the case, said after analysing their devices that were recovered during the drive, the DB team found information of transactions of two types of currency.

Primary investigation found that the group has transacted USDT111,769 and bitcoin worth $9,103 in the past three years' bank accounts that were used for cryptocurrency trade. Besides, their virtual wallet had a balance of bitcoin worth $800. 

Moreover, DB police also found information on two bank accounts at Brac Bank and Dutch Bangla Bank. Through the accounts, the group has transacted Tk12.78 crore in the past three years.

However, during the interrogation, they could not tell the source of this money But the DB got a list of people who regularly transacted with them. It found information on a Pakistani national with whom they had a large number of transactions.

Information regarding cryptocurrency transactions remains secure through the blockchain network. Blockchain is a method that collects information together in groups, known as blocks.

Two internet users themselves, with disclosure of identity, can directly transact the virtual currencies. With opening a 27-34 digit internet account and ID, they can transact currency virtually.

Bangladesh / Top News

cryptocurrency / DB

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Bangladesh's GDP growth to stay below pre-pandemic level even in FY27: IMF
    Bangladesh's GDP growth to stay below pre-pandemic level even in FY27: IMF
  • Representational photo: TBS
    IMF's blueprint for Bangladesh's upper middle income goal
  • Photo: Screenshot
    ChatGPT explains why a country seeks IMF loan

MOST VIEWED

  • Photo: TBS
    5 Arsa members arrested in Cox's Bazar
  • 8 members of a Dhaka youth gang arrested
    8 members of a Dhaka youth gang arrested
  • Afghan returnee regrouping HuJi-B, say cops after arresting six militants
    Afghan returnee regrouping HuJi-B, say cops after arresting six militants
  • Birth registration forgery: Ctg city for resuming certificate issuance
    Birth registration forgery: Ctg city for resuming certificate issuance
  • 4 held in Ctg while smuggling endangered animals
    4 held in Ctg while smuggling endangered animals
  • Photo: UNB
    Drug peddling: Fugitive convict arrested from Gazipur after seven years, says RAB

Related News

  • Four top bankers arrested in DSA case filed by S Alam group 
  • Crypto crime hits record $20bn in 2022
  • Both DB, RAB now claim Fardin died by suicide
  • How a secret software change allowed FTX to use client money
  • Jamaat Ameer Shafiqur Rahman arrested

Features

Photo: Collected

Tips to incorporate sustainable construction

5h | Habitat
Photo: Noor-A-Alam

How did mud walls find their way into urban designs?

6h | Habitat
Spotify is among the tech platforms that saw record growth during Covid lockdowns
Photo: DW

Could tech layoffs spread to rest of US economy?

10h | Panorama
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

10h | Panorama

More Videos from TBS

Sunflower cultivation is becoming popular in Faridpur

Sunflower cultivation is becoming popular in Faridpur

2h | TBS Stories
Is Djokovic the statistical G.O.A.T?

Is Djokovic the statistical G.O.A.T?

3h | TBS SPORTS
Two more factories of the country got platinum certificate.

Two more factories of the country got platinum certificate.

21h | TBS Today
Iconic villains of Bollywood

Iconic villains of Bollywood

22h | TBS Entertainment

Most Read

1
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

4
Photo: Collected
Energy

8 Ctg power plants out of production

5
Photo: Saqlain Rizve
Bangladesh

Bangladeshi university students identified as problematic users of Facebook, internet: Study

6
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net