Guntur doctor falls victim to Rs 13 crore cryptocurrency fraud

Vijayawada: Amid a surge in cyber fraud cases across the country, a prominent doctor from Guntur reportedly lost nearly Rs 13 crore in a massive cryptocurrency investment scam operated through fake online trading platforms. 

Following a complaint lodged by the victim, police registered a case and launched an investigation into the suspected cybercrime network behind the fraud.

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As per the news reports, the doctor was allegedly lured through online platforms that promised extraordinary profits through cryptocurrency trading and digital investments. To gain the victim’s trust, the fraudsters allegedly displayed fake profits and attractive returns on an online account dashboard, making the scheme appear genuine.

Encouraged by the apparent profits, the doctor went on to invest heavily over time. It is also learnt that he invested not only his own money but also funds belonging to some of his close friends and associates after convincing them about the lucrative returns, reports TOI.

However, suspicions arose when the doctor attempted to withdraw the invested amount. Though the online account continued to display huge profits digitally, withdrawal requests were allegedly delayed or repeatedly blocked by the operators of the platform.

After several failed attempts and suspicious responses from the platform managers, the doctor realised he had been cheated and approached the police.

Investigators suspect the fraud is part of a larger organised cybercrime syndicate operating fake cryptocurrency investment portals to trap unsuspecting investors. Cybercrime officials are now tracing the money trail, digital transactions, linked bank accounts, and online communication used in the scam.

Medical Dialogues had previously reported that an assistant professor associated with U N Mehta Hospital in Ahmedabad has allegedly been duped of Rs 70,000 in a Forex and cryptocurrency investment scam operated through Telegram. The victim, an Assistant Professor in the Cardiac Anaesthesia department and a resident of the postgraduate hostel at U N Mehta Hospital in Asarwa, was allegedly targeted through an online investment group promoting high-return trading schemes.

Also Read:Ahmedabad Assistant Professor loses Rs 70,000 in Forex trading scam