Hyderabad, Oct. 17 -- Five people were arrested by Nampally Police on Saturday, October 17, for allegedly robbing Rs 25 lakh with the promise of converting cash into cryptocurrency.

The accused have been identified as Syed Ajaz (31), Syed Zakariya Ahmed (26), Sumair Khan (26), Guglavath Vijesh Kumar (30), and Md Faraz Hussain (31).

According to the police, Ajaz, Zakariya, and Sumair have a long criminal history.

Three other people, namely Hameed, Faisal and an unknown female caller have also been identified as accused and are currently absconding.

The plan to lure people in with the promise of facilitating the conversion of Indian currency into USD cryptocurrency was allegedly hatched by Hameed.

On October 11, the victim reached an o...