Hyderabad, May 3 -- The Cyberabad Police issued a warning on Thursday regarding the growing instances of fraud in peer-to-peer (P2P) crypto trading.

According to the advisory, law enforcement agencies have ramped up efforts to combat online financial fraud, leading to the freezing of bank accounts associated with fraudulent transactions. In response, fraudsters have turned to intermediary mule accounts to avoid detection.

Many individuals engaging in P2P crypto trading are unaware that they may be handling illicit funds. Consequently, when these individuals file complaints through the 1930 helpline or cybercrime reporting portal, their transactions are flagged, resulting in the freezing of their bank accounts, officials stated.

As a re...