Mumbai police has exposed a ring of cybercriminals that stole money from people from across the country by posing as police personnel and arrested its kingpin, who has studied till Class 12 and used to do transactions of more than Rs 5 crore a day in his accounts, an official said on Wednesday.

Mastermind Shrinivas Rao Dadi (49), who has sound technical knowledge despite limited education, was taken into custody by a team of Bangur Nagar police station from a plush hotel in Hyderabad, the official said.