ET Deep Dive: Operation Octopus
5/31/202616 min
Operation Octopus is Hyderabad Police’s ambitious multi-phase crackdown on the infrastructure behind cyber fraud — not just the small fish, but the entire ecosystem. From mule accounts and rogue bank employees to ghost SIMs and crypto networks, each phase peels back a new layer of a sprawling criminal enterprise spanning multiple states and international actors. Commissioner VC Sajjanar estimates four hundred crore rupees is lost annually in Hyderabad alone. Yet kingpins remain at large.
Based on Shilpa Ranipeta’s ground investigation, Anirban Chowdhury narrates how a single Facebook scam unravelled into one of India’s most complex cybercrime investigations.
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Transcript preview
First 90 secondsAnirban Chaudhuri· Host0:00
[instrumental music] Hello, and welcome to ET Deep Dive, where we go beyond the headlines to investigate the stories that matter on audio. [instrumental music] This episode is based on Shilpa Ranipeta's story on how Hyderabad police's cyber fraud crackdown, Operation Octopus, has peeled the layers of a criminal ecosystem spanning multiple states, banking channels, shell accounts, crypto networks, and international actors. [instrumental music] It's Sunday the 31st of May. I'm Anirban Chaudhuri. This is the Morning Brief. [instrumental music] In early 2025, Ravi, a 40-year-old from Hyderabad, saw a stock market investment opportunity promising quick returns on his Facebook feed. [instrumental music] Curious, he clicked on it and was immediately pulled into a WhatsApp group filled with supposed trading experts discussing market moves, profits, and investment strategies. It looked