Sri Lanka Police Arrest Two Over Rs. 230 Million Crypto Fraud

Colombo, April 2 LankaXpress.com – The Criminal Investigation Department (CID) of the Sri Lanka Police has arrested two individuals in connection with a cryptocurrency fraud involving Bitcoin and Ethereum, amounting to approximately Rs. 230 million.

The suspects, a 40-year-old male and a 35-year-old female, both residents of Wattala, were taken into custody on April 1 by the CID’s Social Media Crime Investigation Unit. According to authorities, the duo was involved in a fraudulent scheme linked to cryptocurrency investments, deceiving victims of a substantial sum.

Following their arrest, the suspects were produced before the Colombo Magistrate’s Court, where they were granted bail of Rs. 5 million each. Additionally, the court imposed a foreign travel ban on both individuals as investigations continue.

The Sri Lanka Police urge the public to remain vigilant against financial frauds and report any suspicious investment schemes to the relevant authorities. (LankaXpress.com )