Bhopal (Madhya Pradesh): More than 15 people were cheated by fraudsters on the pretext of bitcoin trading, said the police on Wednesday. Deputy commissioner of police Amit Kumar told Free Press that a complaint was filed by a businessman in which he claimed that he was cheated in bitcoin trading. He had invested Rs 3.90 lakh and when he asked for money or profit on the amount invested, fraudsters switched off their mobile phones.
“It is like chain marketing system, investors or the people join through an App and trading is done. In first two or three transactions, accused offer profit to investor to gain his or her confidence. After that, no return or payment is made,” Kumar said.
The preliminary investigation revealed that racket was involved in all types of online fraud like lottery, loan fraud, KYC fraud and trading fraud. A team has been formed to trace the accused.
