India, Oct. 4 -- The Central Bureau of Investigation (CBI) on Friday carried out coordinated searches at seven locations in the national capital region, Hyderabad and Bengaluru and arrested five individuals in connection with a probe into HPZ cryptocurrency token fraud, exposing a sophisticated and large scale international cyber fraud running into hundreds of crores of rupees, the agency said on Saturday.

HPZ Token App was earlier investigated by the Enforcement Directorate (ED). It had named 299 accused persons and entities including 76 Chinese controlled entities in a charge sheet filed under prevention of money laundering act (PMLA) in 2024.

CBI said its latest raids are part of its ongoing Operation Chakra-V against cybercrimes, in...