Hyderabad: Rs 29 lakh lost in crypto fraud
As per the advice of the crypto investment app operators, Karunakar purchased crypto currency and provided the details to the fraudsters for re-investment. He lost 27 lakh to fraudsters.
Hyderabad: Falling prey to crypto investment fraud, two persons lost 29 lakh in two different cases. One of the victims is a government employee from Secunderabad who lost 27 lakh and the other one is a database engineer from Hyderguda, who lost 2.3 lakh to fraudsters in crypto mining.
In the first instance, Karunakar Reddy received a message on WhatsApp mentioning about good profits on crypto currency investment. He responded to the message and soon he was added to a WhatsApp group. The investment advisors as well as investors were already present in the group.
As per the advice of the crypto investment app operators, Karunakar purchased crypto currency and provided the details to the fraudsters for re-investment. He lost 27 lakh to fraudsters.
In second instance, M Kameswara Rao received a message from Julian on WhatsApp mentioning about a company ‘Coin Wealth Express’ focusing on investment in crypto mining.
He approached police three days ago informing that as he was promised good returns on the investment, Rao invested $413.36 with the fraudsters. In total, he lost 2.34 lakh to the fraudsters.
Informing that fraudsters lure the victims to share crypto currency address by promising to reinvest and provide high interest, Cyber crime ACP KVM Prasad advised people to not to fall for the promises made by them.
He further disclosed that the apps and web pages created by the accused remain active only for a short span till they dupe the victims.
