Hyderabad Police Arrest Five in Alleged Robbery Tied to Tether (USDT)

Five people were arrested in Hyderabad in connection with an alleged robbery during a planned in-person purchase of Tether (USDT), a dollar-pegged stablecoin, involving ₹25 lakh in cash. The meeting took place Oct. 11 at an office in Bazarghat, Nampally, near Himalayan Hotel. Police allege that the group used pepper spray and physical force before fleeing with the cash. The arrests took place Oct. 17, with ₹11.5 lakh and three mobile phones recovered from the group. The five arrested were Syed Ajaz, Syed Zakariya Ahmed, Sumair Khan, Guglavath Vijesh Kumar and MD Faraz Hussain. USDT is designed to track the U.S. dollar at one token per dollar. The case was registered under Section 310(2) of the Bharatiya Nyaya Sanhita.

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