Hyderabad: Hyderabad Police have arrested four people for allegedly cheating a man of ₹7 lakh by promising to help him with a cryptocurrency transaction.
The arrests were made on Monday, August 17, at Kings Snooker in Chandrayangutta. According to police, the accused allegedly contacted potential victims through Facebook and attracted them with offers related to cryptocurrency transactions.
After establishing contact and gaining the victims’ confidence, the suspects allegedly asked them to meet at specific locations on the pretext of completing cryptocurrency deals.
The four arrested individuals were identified as Saber Bin Ahmed Hadrani, also known as Saif, 23, a fitness trainer; Mohammed Abul Salam, 19, a student; Mohammed Anas, 21, a student; and Mohammed Asif, 27, a driver.
The case came to light following a complaint from JR Chowdary, a resident of Begum Bazar, who alleged that he had been cheated of ₹7 lakh in the cryptocurrency transaction.
Police said that cases have been registered against the accused at Bandlaguda and Chandrayangutta police stations. In total, four cases are reportedly linked to the suspects.
Following their arrest, the four accused were sent to judicial remand.
Police have also advised people to remain cautious when dealing with unknown individuals who approach them through social media with cryptocurrency, investment or other financial offers.
