47-year-old loses Rs 1.6 crore to crypto fraud in Hyderabad | Hyderabad News
Hyderabad: Cyber fraudsters duped a 47-year-old man of Rs 1.6 crore by promising him greater returns on cryptocurrency investments.
In line with officers, the sufferer was added to a Telegram channel the place dialogue have been being held in regards to the prospects of investing in crypto forex.
A lady contacted the sufferer and guaranteed him of excessive returns on investments in cryptocurrency. Believing it to be true, the sufferer initially paid round Rs 10,000.
After being proven income on small funding, the sufferer was informed that by paying Rs 5 lakh for membership, he can be allowed to take a position bigger quantities and earn greater returns.
Satisfied by this, the sufferer paid the quantity in installments and ultimately ended up paying over Rs 1 crore inside a span of seven days, by borrowing cash from a number of people.
Later, when the sufferer tried to withdraw the cash, he was requested to pay fee, for which the fraudsters cited totally different causes. He paid one other Rs 30 lakh and repeatedly pressured to take a position extra earlier than being allowed to withdraw the quantity. When he insisted on getting his a refund, the fraudsters stopped responding to his calls and messages.
Realising that he was duped, the sufferer apporoached the police. Primarily based on a criticism, the cyber crime police registered a case and launched an investigation.
