Police have arrested two key accused in an alleged cryptocurrency investment fraud worth more than ₹10 crore. This scheme is suspected to have cheated around 500 people across Telangana, Andhra Pradesh, and other areas, as reported by Hyderabad Mail.
Adilabad Superintendent of Police Akhil Mahajan shared these details on Sunday, October 11. He stated that the accused allegedly promised to double investors' money within two years.
The accused reportedly used a fake website, cryptocurrency investment packages, and multi-level marketing to attract investors, according to Hyderabad Mail.
Investigators suspect that the scheme operated under the name of ITC Global. Further investigation into the case is ongoing.
This incident highlights the importance for residents of Telangana and Andhra Pradesh to be vigilant against fraudulent schemes. It is crucial to exercise caution with investments that promise unusually high returns.