Engineer duped over Rs 5 lakh in crypto fraud

Engineer duped over Rs 5 lakh in crypto fraud

Hyderabad: In a recent bitcoin investment fraud case, cybercriminals tricked a city-based software engineer out of 5.8 lakh rupees.

According to cybercrime officials from Rachakonda, the 40-year-old said that on September 13, he joined an unidentified Telegram group called “Fastcoin Mining” which claimed to be interested in cryptocurrency investments. After seeing the gains made by other users, he contacted the Telegram group identified only as Brian McCauley (ID: @Braiely), who posed as a crypto analyst and provided investment details.

The victim signed up for bought the USDT cryptocurrency through an app on Brian’s advice, then transferred the funds to the e-wallet Brian recommended.

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The victim made an investment of 2,140 USDT between September 14 and 16 and received 2,874 USDT in return.

Encouraged by the winnings, the victim made a second investment of 7,000 USDT or Rs 5.8 lakh. But when he asked Brian to pay out the winnings on September 21, he was told he had to invest another 1,500 USDT to get the money. The victim filed a police report shortly after Brian stopped responding to messages.

The Rachakonda Cybercrime Police has registered a case and an investigation is ongoing based on the victim’s complaint.

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