Hyderabad Police have launched 'Operation Octopus 2.0', resulting in the arrest of 52 individuals, including 32 bank officials, across nine states in India. This operation aims to dismantle a cyber fraud network that exploited mule accounts for laundering stolen funds. The crackdown follows a previous operation in February, which revealed a network of 350 bank accounts linked to approximately 850 cybercrime cases involving transactions worth nearly ₹150 crore (roughly $18 million USD). The arrested bank officials played various roles, from clerks to KYC approvers, and were found to have actively facilitated the opening of fraudulent accounts. The police seized 26 mobile phones, 14 cheque books, and other items believed to be used in managing the fraud. Investigations are ongoing, with further arrests expected as authorities continue to trace the money trail.