Man loses Rs 8 lakh in bitcoin fraud in Hyderabad

Hyderabad: A man from Amberpet was duped of Rs.8 lakh by cyber fraudsters on the pretext of bitcoin trade. The victim received a message from an unknown person on his phone asking if he was interested in bitcoin trade. “When the victim responded positively after getting lured by huge profit assurances, the fraudster sent a […]

Hyderabad: A man from Amberpet was duped of Rs.8 lakh by cyber fraudsters on the pretext of bitcoin trade.

The victim received a message from an unknown person on his phone asking if he was interested in bitcoin trade.

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“When the victim responded positively after getting lured by huge profit assurances, the fraudster sent a link asking him to download an app on his phone. The man later registered himself with the company and paid about Rs.8 lakh towards investment in the trade,” the Hyderabad Cybercrime police said.

When he did not receive any profits as assured by the company, he grew suspicious and approached the police. A case has been registered.

The police found that the fraudsters have switched off their mobile phone. Efforts are on to track them.