BENGALURU – A 33-year-old businessman has lost Rs 20 lakh after investing in cryptocurrency, after being duped by someone he met on a Telegram group. An FIR was registered at Whitefield CEN crime police station on March 18.
Investments were made using two legitimate applications that use blockchain technology. The businessman got an invitation to join the Telegram group, ‘EQITE-CAPITAL’, where people claimed they had made large profits from buying cryptocurrencies. One message suggested it was possible to make a decent amount of money through Bitcoin trading.
The businessman then contacted the woman who had sent the message. She offered four investment plans, ranging from $500 to more than $10,000. He chose the third plan, which was between $3,000 and $10,000, and began to purchase USTD.
However, after the coins were transferred, the woman went incommunicado. The businessman was unable to access his account and wrote to the customer service of both apps. Upon further investigation, authorities found out that the wallet from which the USTD was transferred was not attached.
The Cybercrime Police said that it was difficult to track the wallet, even with blockchain technology, as one can only see transactions from one account. They have begun a probe and are making all efforts to try and recover the money.
