Hyderabad: Amberpet man loses Rs 8 lakh in bitcoin scam

A man was defrauded of Rs 8 lakh by the cyber criminals who lured the victim with profits in the bitcoin trade. The victim, a resident of Amberpet is said to have got a call from the Cyber criminals who asked if the former was interested in bitcoins.

They promised of huge profits in the bitcoin trade when the victim responded positively and sent a link asking him to download the app on his phone. The man registered on the app and invested Rs 8 lakh in the trade. When he did not receive any profits as assured by the company, the victim grew suspicious and approached the police who registered a case and launched a probe.

Meanwhile, the police found the fraudsters have switched off their mobile phone. Efforts are underway to trace the criminals.