Cybercrime police in Visakhapatnam have arrested four people running a crypto-based multi-level marketing (MLM) scam under names such as UMT, UBIT, Ultraverse and MMMC that falsely promised high returns to investors. Multiple crypto apps and login credentials were seized during the raids. The accused — Nagireddy Sudheer Naidu, Mangi Soma Raju, Gurala Srikanth and Allipalli Venkata Ramesh Babu — were remanded to judicial custody. Police said the Ponzi-style scheme offered daily returns and commissions for referrals, but had no real business backing.
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