E-Paper
36-year-old man loses ₹1.11 crore in Bitcoin fraud
A Bhosari man lost ₹1.11 crore in a bitcoin scam promising high returns, filing a complaint only after realizing he was deceived by fraudsters.
PUNE: A 36-year-old resident of Bhosari fell victim to a bitcoin scam, losing ₹1.11 crore after being lured to invest with promises of high returns.
Although the scam took place between 25 March and 23 July, the victim approached police and filed a complaint only on 22 September at the Cyber Police Station in Pimpri Chinchwad.
Police said the 36-year-old was approached by fraudsters with investment opportunities in bitcoin and digital gold mining, assuring handsome returns within a short period. Convinced by their assurances, he sent ₹1,11,80,000 via multiple online transactions.
Initially, he was made to believe that earned ₹7,00,00,000 as profit, which reflected on the dashboard that he was made to download on his mobile phone. However, when he tried to withdraw it, the gang demanded 20% percent charge on it, and rejected his withdrawal request when he refused. Realising he had been trapped by cyber criminals, he sought police help. A case was registered under sections 316(2), 318(4) 3(5) of the BNS and sections 66(c) and 66(d) of the Information Technology Act.
Police have urged citizens to exercise caution when investing in cryptocurrencies and to verify the authenticity of platforms before transferring money.
