Social media crypto fraud: CID nabs 2 Over Rs. 230M Scam

April 2, 2025 at 5:24 PM

A suspect has been arrested by the Cyber Crimes Division of the Criminal Investigation Department (CID) over a financial fraud involving cryptocurrency through social media platforms.

The scam involved the illegal collection of Bitcoin and Ethereum valued at approximately Rs. 230 million via the internet.

The arrest was made on 2025.04.01, and two individuals were taken into custody — a 40-year-old male and a 35-year-old female.

They are reported to be residents of the Pannipitiya area.

The suspects are accused of being the main operators behind the fraudulent cryptocurrency investment scheme.

After being produced before the court, they were released on bail with two sureties of Rs. 5 million each.

However, a travel ban has been imposed on the suspects as part of the ongoing investigation. (NewsWire)