Man duped of ₹13 lakh in Bitcoin fraud in Gr Noida West

A 36-year-old man in Greater Noida was duped of ₹13 lakh in a Bitcoin scam, prompting a police investigation into the cyber fraud.

Noida: A 36-year-old man was allegedly duped of ₹13 lakh in a Bitcoin investment fraud in Greater Noida West between August 24 and September 24, police said on Tuesday, adding that a case of cheating has been registered at the Cybercrime Branch police station.

After investing ₹13,01,500, when he tried to withdraw the money, he was asked to transfer ₹7.5 lakh more to avail the profit. He realised to have been scammed by cyber frauds, (Representational image)

The victim, a resident of a high-rise society in Sector-1, Bisrakh, Greater Noida, in his complaint said that he was called by an unidentified number on Telegram on August 24 and apprised about Bitcoin currency investment to make profit. “Later, the suspect contacted me,” he added.

Police said the victim was lured into Bitcoin investment through a trading App on August 31. “The victim downloaded it and started investing. On September 1, he transferred ₹10,000 via the application and gradually raised the amount,” said an officer, requesting anonymity.

“After investing ₹13,01,500, when he tried to withdraw the money, he was asked to transfer ₹7.5 lakh more to avail the profit. He realised to have been scammed by cyber frauds, prompting him to register a complaint on the National Cyber Crime Reporting portal,” the officer added.

“We have registered a case for cheating and cheating by personation of the BNS and relevant sections of the IT Act against unidentified suspects. Further probe is on,” said SHO (Cybercrime Branch) Ranjeet Singh.