VISAKHAPATNAM: At least four to five youths from areas of Vizag have revealed that they have lost crores of rupees to cybercrooks who convinced them to invest and trade in cryptocurrency.
An employee with a private company from Vizag city has lodged a complaint with the cybercrime police saying that he received a WhatsApp message from an unknown number starting with +452. The man introduced himself as a Hong Kong resident and said he was a crypto currency analyst.
He asked him to invest in cryptocurrencies and sent him some fake links. He followed the instructions and made some profits on his first investment. He spent (including earnings) about $11,64,318 (Rs 9.6 crore). He tried to withdraw the money after a month but was unable to do so and was asked to pay a 10 percent tax on the income. After paying 10 percent, he was asked for another 20 percent to withdraw money. Now he realizes he is being tricked and goes to the police.
In another incident, a 40-year-old man from Vizag told the police that an unknown person had added him to a WhatsApp group. The scamsters told the details of investing and trading in Bitcoin and they enticed him to invest in Bitcoin. He went ahead and signed up on the platform with Julie’s help and guidance with a token of around $450.
The scamsters sent him two URLs and asked him to start trading. They advised him to invest $1000 to start the business. In the beginning, he had some profits on the platform and later he had losses. He was told to invest $10,000 with a new research plan with a double and triple profit plan with an agreement of 30 percent commission for weekly income.
He invested over Rs 50 lakh and the profit on the platform was close to Rs 2.5 crore, he decided to return the amount but his attempts to leave failed as they did not return his money to him. The victim approached the Vizag police.
Inspector of police, cybercrimes police station, Vizag, K Bhavani Prasad said that cyber fraudsters are becoming more technologically advanced and are coming up with new ways to cheat people in Vizag city. We believe that more than 100 people from Vizag city have lost crores of rupees in crypto/bitcoin scam in recent months, but very few people have come forward to the police. Greed is one of the main reasons people fall victim to cyber crimes despite the wide spread of its dangers.
We have started an investigation to identify the accused behind this new type of cybercrimes, he added.

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