Crypto Con: Two Brothers Arrested in Netrokona for NFT Fraud

Two brothers have been arrested in Netrokona for allegedly deceiving locals with false promises of high returns through online dollar-based investments. The joint forces operation led to the detention of Ariful Haque (43) and Shariful Haque (32), sons of Abdul Zahed Mia from Chandupur village in Kendua upazila.

Confirming the arrests on Tuesday, June 17, Officer-in-Charge (OC) of Kendua Police Station, Mizanur Rahman, stated, “A case has been filed against the duo on charges of financial fraud. They have long operated an online scheme named ‘Treasure NFT’ to lure people into a trap of deception. An investigation is underway to determine the full extent of their fraudulent network.” The authorities also seized mobile phones and other key evidence linked to the scam.

However, the primary suspect, Masudul Hasan Saikat (30), son of Manjurul Haque, remains at large.

The case was filed by a young man named Md. Nahidul Islam from Bhabanipur village, who alleged in his written complaint that he was coerced into investing Tk 84,500 in the Treasure NFT platform. “They promised a daily return of 1.8 percent along with referral income. But I received neither the promised profit nor the capital back, which made it clear that I had been deceived,” the complaint reads.

The complaint also notes that the accused used international online platforms like Binance, Bybit, Bitget, Trust Wallet, and MetaMask to defraud nearly 3,000 people from different villages under Ashujia and Dalpa unions of Kendua, allegedly embezzling funds amounting to several crores of taka.

Police said further investigations are ongoing to trace the remaining suspects and recover the siphoned funds.