Hyderabad: The Cyberabad Cyber Crime Police successfully helped a local resident recover money lost in a cryptocurrency scam involving a fake online investment scheme.
The victim, from Hyderabad, was tricked through a WhatsApp group named MC-VIP-BTC-GROUP-888/702. Scammers in the group convinced him to invest in cryptocurrency trading using a third-party app. They shared fraudulent websites like https://gigcps.com and https://app.tradingtopshots.com, promising big returns through fake trading contracts.
Trusting the scammers, the victim transferred $24,275.80 (around ₹20.39 lakh) to various private crypto wallets. Once he realized he had been cheated, he contacted the cyber crime police.
Police quickly registered a case under Section 420 of the IPC and Section 66-D of the IT Act (2000-2008). Investigators tracked the money and discovered that a large part of it had gone to a wallet linked to a foreign cryptocurrency exchange based in Seychelles, Africa.
Authorities sent a legal notice to the exchange, requesting wallet information and KYC (Know Your Customer) details. The exchange cooperated and revealed that the suspect’s wallet still held 0.03979 BTC, worth about $3,746.58 USD or ₹3.22 lakh.
The cyber team then approached the court and obtained a debit freeze order to block the suspect’s wallet. After submitting all necessary documents and transaction details, the court issued a refund order.
Following the court’s instructions, the exchange returned 3,125.42 USDT, roughly ₹2.68 lakh, to the victim’s account.
The Cyberabad police have warned people to stay alert when it comes to online investment offers. They advise the public not to trust random messages on WhatsApp, Telegram, or other platforms that promise quick profits or ask users to install unknown apps.
Officials urge anyone who suspects a scam to immediately report it to the nearest police station or cyber crime unit.
