August 30, 2026: Dindigul police arrested three more people on Saturday in the alleged FQL crypto Ponzi scam, as nearly 25,000 complaints were received in connection with the suspected investment fraud. Investigators are probing claims that agents persuaded people to invest through FQL and V G Investment by promising high or quick returns.
The latest arrests take the number of suspects named in the Dindigul district crime branch case to 10. The three arrested were identified as Ramesh, his wife Anitha and Vijay, while three special complaint camps were organized by Madurai rural police to handle the surge in petitions.
‘FQL Crypto Ponzi Scam’ Leaves Investors Worried
One investor, R Sakthivel from Melur, said he initially put Rs 50,000 into the scheme and received returns. Agents later encouraged him to move into V G Investment for higher profits, after which he invested around Rs 1 lakh and was allegedly cheated.
“As agents insisted that investing in V G Investment would yield more profit, he invested around Rs 1 lakh and was cheated.”
Police suspect V G Investment may have been introduced after those operating the alleged FQL scheme feared exposure. Earlier reports from Dindigul’s Natham area indicated that around 8,000 people may have invested close to Rs 150 crore, although investigators are still working to establish the exact figures.
Major Cryptocurrencies Continue to Trade Actively
The alleged fraud should not be confused with legitimate cryptocurrency markets. On August 30, Bitcoin was trading around Rs 74.68 lakh, up 1.04%, while Ethereum gained 0.99%, BNB rose 0.92%, XRP climbed 1.26% and Solana advanced 1.50%, according to ET Markets.
Other digital assets also moved higher. Uniswap gained 12.05% and VeChain rose 8.68% in the same market snapshot, showing how sharply cryptocurrency prices can move within a single day.
Police Ask FQL Investors to Report Fraud
Our sources confirmed that victims can approach their local police station or cybercrime police station with transaction records and other evidence. Authorities have also advised victims to use the national cybercrime helpline 1930 or the official cybercrime reporting portal.
