LUCKNOW, July 23 -- Promising jobs to unsuspecting youths, taking control of their bank accounts and using them to launder cyber fraud proceeds before converting the money into cryptocurrency: this was the modus operandi of a cybercrime network busted by Lucknow Police under Operation CYVAJRA, officials said on Thursday.

The Hazratganj police and the Central Zone cyber team arrested three people, including a woman, for allegedly operating a network of "mule accounts" used to channel money generated through online frauds. Police also froze nearly Rs.5 lakh lying in the accounts linked to the racket.

The arrested accused were identified as Varun Kant Sharma (30) of Badaun, Prem Kumar alias Vimal of Farrukhabad, and a woman whose identity ...