New Delhi, Oct. 4 -- The Central Bureau of Investigation (CBI), as part of its ongoing Operation Chakra-V against cybercrimes, has carried out searches in the HPZ cryptocurrency token fraud case, exposing a sophisticated and large-scale transnational cyber fraud running into hundreds of crores of rupees, the agency said in a release.

On October 3, coordinated search operations were conducted at seven locations across Delhi NCR, Hyderabad, and Bengaluru, leading to the recovery of incriminating digital evidence and financial records.

The case, registered under criminal conspiracy, impersonation and fraud and offences under Information Technology Act, pertains to an elaborate criminal conspiracy orchestrated by foreign-based masterminds i...