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Police Rescue Tech Professional from Cryptocurrency Scam, Warn Public of Growing Threat

CryptoPolice Rescue Tech Professional from Cryptocurrency Scam, Warn Public of Growing Threat

The Mysuru City Police recently aided a tech professional in recovering ₹12 lakh he had invested in a fraudulent cryptocurrency scheme. The victim, a former software company employee, received an invite through a social media messaging group and subsequently invested ₹16 lakh in this dubious cryptocurrency venture. On September 8, he filed a complaint after transferring the funds to around 15 different accounts. Promptly, the police acted by freezing the bank accounts linked to the transactions, with the process of returning ₹12 lakh to the victim currently in progress.

Mysuru City Police Commissioner Ramesh B. emphasized the victim’s quick action in reporting the crime through the national cybercrime helpline number 1930. He also highlighted other similar cases in which individuals were enticed via social media to invest in cryptocurrency scams.

The police issued a warning to the public regarding the prevalence of cryptocurrency-related fraud and urged caution. Perpetrators often lure victims into social media groups, promising substantial profits from cryptocurrency investments. Small business owners, in particular, are susceptible to falling prey to these deceptive schemes, according to Mr. Ramesh.


By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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