Kochi: The investigation into the massive cyber fraud in which a Kochi resident was cheated of ₹25 crore has revealed suspicions that the masterminds behind the operation are Malayalis.

A Malayali woman who received a share of the swindled money has already been taken into custody, and investigators believe more Malayalis are involved in the racket. The amount was transferred across multiple bank accounts to conceal its trail.

According to investigators, the planning for the fraud took place in California, while the call center used to approach victims was based in Cyprus. The fraudulent trading company linked to the scam has faced similar complaints in other states as well. The company, which has previously been implicated in several international cyber crimes, was presented to victims as a genuine online trading platform.

The Kochi resident who fell prey to the scam had communicated with a man who introduced himself as “Daniel” and spoke fluent Malayalam. However, investigators believe the name was fake. Authorities are currently verifying whether the company is real, whether it conducts legitimate online trading, and whether it has any registration in India.

The fraud of ₹25 crore was carried out between March 2023 and 2025. Victims were lured with promises of high returns through a bogus website that posed as a trading platform. As part of the scam, fraudsters purchased bank accounts for use in money transfers. Although the syndicate retained full control of these accounts, it is often the account holders who are first arrested in such cases.