Hyderabad: A gang of four people was arrested for online betting and duping a 36-year-old man of Rs 1.5 crore by the cybercrime unit of the Hyderabad police on Tuesday, March 10.
The accused were identified as Mohammed Syeed Uddin, 26, a resident of Edi Bazar employed in Dubai; Mohammed Tajuddin, 31, an auto driver and resident of Moin Bagh; Mohammed Yunis, 25 and Mohammed Ayub, 24, residents of Moin Bagh.
The victim said that last year, he received promotional calls via WhatsApp regarding “BETINEXCHANGE”. The accused claimed to be representatives of the platform who urged him to participate in online betting through websites such as cricket betting, teen patti, and casino games, promising high returns.
Initially, the victim deposited Rs 20,001 and received a profit of Rs 5,000, which made him trust the platform.
Encouraged by continuous persuasion and support from the fraudsters, the victim made multiple deposits through bank accounts, UPI IDs, QR codes, and cash deposit machines provided by them.
Between August 2025 and January 2026, he deposited approximately Rs 1.5 crore in several transactions from his own and his wife’s bank accounts. Initially, he made about Rs 20 lakh, but later suffered heavy losses and ultimately lost the entire amount.
Whenever the victim tried to withdraw the money, the accused redirected him to various betting apps, including Betinexchange247, Funinexchange, Funinexchange247.com, Funinexchange360.com, Funinmatch, Funinmatch360 and Funinmatch555, Taj777, Polo777, Joker Exchange.
These platforms frequently changed domains and bank accounts to evade detection and continued inducing him to bet more to recover earlier losses.
The fraudsters created an initial illusion of profit to gain his confidence and later manipulated the betting results and blocked withdrawals, causing wrongful loss to the complainant and wrongful gain to themselves.
Based on a complaint, the cybercrime police registered a case under sections 66C and 66D of the IT Act, Sections 318(4) for cheating and 319(2) for impersonation of Bharatiya Nyaya Sanhita (BNS), and sections 3 and 4 of the Telangana Gaming Act, and the matter is under investigation.
