Hyderabad: Businessman duped of Rs 10 lakh in cryptocurrency fraud

Hyderabad: In yet another cryptocurrency fraud, a city-based businessman lost Rs.10 lakh to fraudsters.

The man, a resident of Musheerabad, had got a message on WhatsApp with details of crypto currency trade and a link to join a ‘BTC group’ a week ago. He joined the WhatsApp group through the link and initially invested around $500 and earned a profit of $100.

“Excited over this, within a week he invested dollars equivalent to around Rs.10 lakh and the profit in the wallet showed nearly Rs.1 crore. However, when he tried to withdraw the amount, the conmen asked him to transfer Rs.20 lakh,” Cybercrime officials said, adding that he then approached the Hyderabad Cybercrime police.

Investigation is going on.

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