Hyderabad, Nov. 7 -- A First Information Report (FIR) registered by the Cyberabad cybercrime unit led the Enforcement Directorate (ED) to uncover a pan-India fraud worth Rs 400 crore.

The FIR has proved crucial to the ED's investigation into a cyber laundering fraud that routed more than Rs 400 crore in proceeds from online frauds through mule bank accounts and cryptocurrency channels.

As part of the investigation, the ED's Chennai zonal office-II arrested two accused, identified as Roshan Fiaz and Ammar, on October 30 under the Prevention of Money Laundering Act (PMLA).

The agency's investigation is based on two predicate offences: the Cyberabad cybercrime FIR and another case registered by the Tamil Nadu police's State Cyber Crime Co...