The police have arrested 12 people for allegedly robbing an entrepreneur of ₹17.64 lakh after luring him with a promise of converting the cash into a USDT cryptocurrency.The police have recovered ₹13.90 lakh in cash, six two-wheelers, a car and 13 mobile phones from the accused.According to the police, the complainant, an entrepreneur from Devinagar in Kodigehalli, was planning to open a café on Sira Highway and was looking to import kitchen equipment and accessories from Japan or China at lower prices. He was reportedly advised that payments could be made through cryptocurrency and subsequently joined a WhatsApp group.Through the group, the entrepreneur came into contact with a man who successfully exchanged ₹2.5 lakh into USDT on June 8, gaining his confidence. The following day, the victim sought to convert ₹17.64 lakh into cryptocurrency.The accused allegedly asked him to bring the cash to a location on Kalpana Chawla Road in Sanjaynagar. The entrepreneur arrived with the money along with his brother and a friend. However, instead of carrying out the cryptocurrency transaction, the gang allegedly assaulted the trio and fled with the cash.Based on the complaint, the Sanjaynagar police registered a robbery case and launched an investigation.Following a probe, the police first detained four suspects on June 11 and subsequently identified other members of the gang.During a series of operations conducted between June 11 and June 22, the police arrested 12 accused from different locations. The investigation led to the recovery of ₹13.90 lakh of the robbed cash, 13 mobile phones, six two-wheelers and a car allegedly used in the crime.The police said one accused is still absconding and efforts are under way to apprehend him.The operation was carried out under the supervision of senior officers of the North Division, with the Sanjaynagar police team leading the probe. Published - June 25, 2026 07:10 pm IST