Hyderabad, Oct. 17 -- Nampally Police have arrested five people on Saturday for allegedly robbing Rs 25 lakh in cash from the complainant by luring them with a deal to convert Indian currency into USDT cryptocurrency.

Cash worth Rs 11.5 lakh and three mobile phones were seized from the accused.

According to the police, the robbery took place on October 11 in an office near Himalayan Hotel at Bazarghat in Nampally. The complainant and his associates had gone there with Rs 25 lakh in cash for the proposed transaction. Police said one of the accused sprayed pepper spray on one of the purchasers while another attacked a second person, and the accused fled with the cash.

A case was registered under Section 310(2) of the Bharatiya Nyaya Sanh...