Man Duped of ₹27.5 Lakh in Matrimonial Cryptocurrency Scam

Fast Summary

• A resident of Chandrayangutta, Hyderabad fell victim to a cryptocurrency scam involving ₹27.5 lakh after being lured by a woman posing as a prospective bride on a matrimonial site.
• The fraudster claimed to be from London originally from Chennai and built trust promising marriage before persuading the victim into Bitcoin trading through a fraudulent online platform.
• The victim’s account displayed ₹1.34 crore balance but fraudsters demanded an additional 10% as ‘tax payment’ when he tried withdrawing it, revealing the scam.
• Hyderabad police’s cybercrime wing has registered the case and begun investigating.
• Police warned against trusting strangers offering investment opportunities via matrimony sites or unverified platforms for quick profits in cryptocurrency trading.
• Citizens are advised to invest only through RBI or SEBI-recognized channels, verify authenticity of investment platforms, and promptly report fraud incidents via the National Cyber Crime Reporting Portal (www.cybercrime.gov.in), dial 1930, or WhatsApp at 8712665171 for emergency assistance in Hyderabad.

Indian Opinion Analysis

The incident highlights how vulnerable individuals can become targets of increasingly sophisticated online scams exploiting emotional connections like marriage proposals combined with promises of financial gain. It underscores two meaningful concerns: misuse of matrimonial websites, which are meant to build trust among users; and the risks associated with unregulated cryptocurrencies often leveraged by scammers.

Police advisories caution citizens about verifying both personal relationships initiated online and potential investment offers-spotting red flags early could deter such crimes. This case also serves as a wake-up call for stronger consumer education about financial protections and regulatory oversight in emerging sectors like cryptocurrency investments. Vigilance paired with prompt reporting mechanisms is essential for combating cyber frauds systematically.Read more: www.cybercrime.gov.in