Mule Account Bust in Multi-State Cyber Fraud Under Operation MATRIX

Cybersecurity investigators in Ratlam, India, have arrested three individuals involved in operating a mule account as part of a broader, multi-state cyber fraud scheme. The operation, dubbed ‘Operation MATRIX’, was initiated following directives from the State Cyber Police Headquarters in Bhopal. Authorities flagged a private bank account registered to 23-year-old Ratlam resident Pratham Mittal after detecting a significant deposit of Rs 47.75 lakh on March 25, 2026.

Further investigation by the Ratlam Cyber Cell revealed this account was being used to funnel illicit funds. The case is directly linked to a digital arrest scam reported in Coimbatore, Tamil Nadu, where a victim, KC Sridhar, lost Rs 67.75 lakh. Evidence indicates that a portion of the stolen funds was routed through the now-identified mule account, confirming its role in an interstate fraud network.

During interrogation, the primary accused, Pratham Mittal, confessed to opening the account under the direction of associates Hemant Rayak and Shubham Reda. He admitted to receiving a commission for his participation in facilitating the fraudulent transactions. The Manakchowk police station has registered a case, and the investigation is ongoing to uncover the full extent of the network and apprehend all involved parties.