Cryptocurrency fraud: Firms told to freeze accounts

Hyderabad: The Hyderabad cybercrime police who are investigating the case where in a man from the city reportedly lost Rs 2.2 crore to cyber fraudsters have sent emails to different companies asking them to freeze the accounts. The victim, a resident of Secunderabad, had approached the cybercrime police last week claiming that some persons had […]

Hyderabad: The Hyderabad cybercrime police who are investigating the case where in a man from the city reportedly lost Rs 2.2 crore to cyber fraudsters have sent emails to different companies asking them to freeze the accounts.

The victim, a resident of Secunderabad, had approached the cybercrime police last week claiming that some persons had hacked his accounts and changed the passwords.

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He had invested around Rs 2.2 crore in four different cryptocurrencies – binance coins, BitTorrent, Tron (TRX) and Madesafe. “Initially, he purchased bitcoins in 2015 and later sold it to purchase other cryptocurrencies and kept them in the wallets. Few days ago, he noticed the passwords of the wallets were compromised and he could not access the accounts,” said an official of the Hyderabad Cybercrime.

After receiving the complaint, the police approached the companies and asked them to freeze the wallets so that no transactions are done.

“We will try to get the victim access to the accounts. Only after checking the account we will know, if the cryptocurrency is there in the wallet or after hacking the accounts it was transferred to some other account,” the official said.

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