Four Scammed By Crypto Fraudsters, Lose ₹65 Lakh | Hyderabad News
HYDERABAD: At least four crypto fraud cases were reported from Cyberabad in two weeks. The fraudsters, promising good profits in cryptocurrency investments, duped investors mostly techies to the tune of lakhs of rupees.
In the first instance, M Kameswara Rao, 36, a database engineering lead in a tech company and resident of Hyderguda, lost 2.34 lakh. On May 14, he filed a complaint with the Cybercrime police, alleging that in December 2021, one Julian introduced him to a crypto investment company named ‘Coin Wealth Express’ with the website https://cwejys.com/.
As Julian promised good returns for investment in crypto mining, Rao invested more than 2 lakh. Later, when he submitted a withdrawal request, he could not redeem the cash. When Rao asked Julian, she asked him to wait for three to four days. Subsequently, the app stopped working and the fraudster claimed that the company went bankrupt.
In another case, Manchikanti Balaji Sasidhara Reddy, a software engineer and a resident of Nizampet, approached Cyberabad cyber crime police on May 13. He alleged that a person claiming to be Ronald Crawford got in touch with him through Telegram and introduced him to a crypto investment company named BitOptionsFX and to its website https://bitoptionsfx.com/. “On December 2, 2021, I invested around 7100 USD and paid 30288 USD as 10% tax for virtually displayed profits through their agents. Overall, I invested 28.5 lakh,” Reddy said.
Later, Reddy opened another account using his wife’s account details and invested another 9500 USD. When he tried to withdraw the cash, fraudsters asked him to make another deposit for the withdrawal process to reach 100%, which was shown to be stuck at 59%. On that, Reddy realized that the crypto investment company is fraud and it duped him to the tune of 40 lakh.
On May 5, Pranabananda Khillar, a private employee and a resident of Banjara Hills, filed a complaint with Hyderabad cyber crime police. He alleged that he lost 1.4 lakh through Instagram on May 4.
“I saw a mutual friend’s Instagram story about a crypto investment scheme. I reached out to her to validate the scheme and received an acknowledgment for the scheme being legit. I transferred money in four successive transactions to three different bank accounts. Later, I found it to be a complete fraud and reached out to my friend and found out that her account was hacked for two days,” he said.
In the fourth case, Siddartha Peddi, a lead consultant in a software company and a resident of Kukatpally, received a phone message that read ‘BTC get rich VIP-48’ on April 18. He lost 22 lakh.
In the first instance, M Kameswara Rao, 36, a database engineering lead in a tech company and resident of Hyderguda, lost 2.34 lakh. On May 14, he filed a complaint with the Cybercrime police, alleging that in December 2021, one Julian introduced him to a crypto investment company named ‘Coin Wealth Express’ with the website https://cwejys.com/.
As Julian promised good returns for investment in crypto mining, Rao invested more than 2 lakh. Later, when he submitted a withdrawal request, he could not redeem the cash. When Rao asked Julian, she asked him to wait for three to four days. Subsequently, the app stopped working and the fraudster claimed that the company went bankrupt.
In another case, Manchikanti Balaji Sasidhara Reddy, a software engineer and a resident of Nizampet, approached Cyberabad cyber crime police on May 13. He alleged that a person claiming to be Ronald Crawford got in touch with him through Telegram and introduced him to a crypto investment company named BitOptionsFX and to its website https://bitoptionsfx.com/. “On December 2, 2021, I invested around 7100 USD and paid 30288 USD as 10% tax for virtually displayed profits through their agents. Overall, I invested 28.5 lakh,” Reddy said.
Later, Reddy opened another account using his wife’s account details and invested another 9500 USD. When he tried to withdraw the cash, fraudsters asked him to make another deposit for the withdrawal process to reach 100%, which was shown to be stuck at 59%. On that, Reddy realized that the crypto investment company is fraud and it duped him to the tune of 40 lakh.
On May 5, Pranabananda Khillar, a private employee and a resident of Banjara Hills, filed a complaint with Hyderabad cyber crime police. He alleged that he lost 1.4 lakh through Instagram on May 4.
“I saw a mutual friend’s Instagram story about a crypto investment scheme. I reached out to her to validate the scheme and received an acknowledgment for the scheme being legit. I transferred money in four successive transactions to three different bank accounts. Later, I found it to be a complete fraud and reached out to my friend and found out that her account was hacked for two days,” he said.
In the fourth case, Siddartha Peddi, a lead consultant in a software company and a resident of Kukatpally, received a phone message that read ‘BTC get rich VIP-48’ on April 18. He lost 22 lakh.
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