Hyderabad: As cryptocurrency becomes increasingly prominent for investors, a group of youngsters were duped of Rs 16 lakhs on Wednesday.
The police said one of the victims was in touch with a person on Facebook. The latter urged the victim to invest in cryptocurrency trade through an app. Trusting the stranger, the victim followed the instruction and created an account.
Cyber crime authorities further said that the youngster was receiving profits initially. The con-men further lured him into making major profits as a result of which, the youngster spread the word among his friends. Keen on making profits all of them pooled in the money for the investment.
They later realise that the profits were not being deposited into their accounts. Based on a complaint, the Cybercrime police have registered a case, and the investigation is underway.
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