Additional Superintendent of Police Dhananjay Shah said the accused, Wasim Fahimuddin (19) and Mujahid Khan (22), are residents of Bulandshahr district of Uttar Pradesh.
The gang comprised 25 members, he said.
"The gang members targeted ATM kiosks which have more than one ATMs. Once a person entered the PIN, they would tell him that the ATM is not working and he should use another machine. The person would then turn to another machine without cancelling the transaction, and the gang members withdrew money from his account through the first ATM," the ASP said.
Police are looking for other members of the gang.
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