Bhubaneswar: The state crime branch on Sunday arrested two cyber fraudsters — one from Punjab and another from Andhra Pradesh — for their alleged involvement in separate scams amounting to Rs 7 crore. Bittu Kumar, 41, from Ludhiana, was wanted for allegedly defrauding a Berhampur businessman of more than Rs 6 crore through a cryptocurrency trading scheme.Previously, police arrested five of Bittu’s associates from Gujarat’s Surat. The accused allegedly created a fake cryptocurrency trading platform to lure investors. On July 9, 2024, the victim reported that in May 2024, he was contacted by a woman claiming to be a Hong Kong-based software developer through a social media platform.”The woman enticed the victim to participate in digital currency trading, promising 200% returns within days. She subsequently added him to an instant messaging group where more fraudsters provided investment instructions,” a senior crime branch officer said.The businessman made multiple transactions, transferring a staggering Rs 6,16,37,084 between May 23, 2024, and June 24, 2024, to various accounts provided by the perpetrators, without validating their authenticity. When he tried to withdraw his profits, the accused made various excuses and eventually stopped responding to his calls.”The fraudsters created a fictitious e-wallet displaying fake profits from his investments. The victim was unable to access his funds. When he attempted to withdraw, the perpetrators encouraged him to wait and solicited additional investments,” the officer said.As he insisted on a refund, the scammers demanded Rs 89,00,000 more and refused access to his money. They later changed their contact numbers and shut the group. The victim then realised he had been cheated and registered an FIR.In the other case, the crime branch arrested Chapalamadugu Sudheer Kumar, 33, from Guntur for allegedly duping a businessman of Rs 1 crore on the pretext of doubling his investments in stock trading.