A 30-year-old resident of Chandrayangutta was cheated of ₹27.5 lakh in a cryptocurrency scam orchestrated through a matrimonial website. The victim, believing he was pursuing a genuine marriage prospect, was lured into fraudulent Bitcoin trading by a woman posing as his prospective bride.
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How the Scam Unfolded
Police said the victim came into contact with the woman on a matrimonial platform. Claiming to be from London and originally from Chennai, she gradually built trust by promising marriage. Once confidence was established, she persuaded him to invest in Bitcoin through an online trading platform, which later turned out to be fraudulent.
The man invested his savings, loans, and money borrowed from friends, totaling ₹27.5 lakh. His account on the platform falsely displayed a balance of ₹1.34 crore. However, when he attempted to withdraw, the fraudsters demanded an additional 10% tax payment, amounting to around ₹13.47 lakh. Realising it was a scam, he promptly reported the incident online.
Police Action and Advisory
The Hyderabad cybercrime wing registered a case and launched an investigation. Officials highlighted the rising misuse of matrimonial websites and social media by fraudsters to lure victims with promises of marriage and quick profits through cryptocurrency or trading apps.
Public Caution on Crypto Frauds
Police have urged citizens to avoid investing in unregulated cryptocurrency platforms and to only use channels authorised by the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI). Authorities further advised against transferring money to unknown individuals or believing in investment schemes promising unusually high returns.
Victims of such crimes have been asked to report cases immediately through the National Cyber Crime Reporting Portal or by dialling 1930. For Hyderabad residents, cyber fraud complaints can also be sent via WhatsApp on 8712665171.
This incident highlights how fraudsters are blending romance and financial scams, exploiting personal trust to orchestrate high-value cybercrimes.