VISAKHAPATNAM: As many as 230 police personnel have allegedly lost `7 crore in a cryptocurrency racket run by two constables in Visakhapatnam. According to sources, the accused constables of 2007 Rural AR, and 2009 batches had promised a monthly return of Rs 50,000 on an investment of Rs 3 lakh in cryptocurrency. Lured by high returns, several police personnel fell victim to cryptocurrency fraud.
Speaking to mediapersons on Thursday, Commissioner of Police Shanka Brata Bagchi said he directed the cybercrime police to look into the matter after coming to know about the cryptocurrency racket two days ago. However, Bagchi made it clear that without a formal complaint by victims, police could not register a case.
“I have not received any complaint so far. I request victims of the cryptocurrency racket to come forward, and file a formal complaint. So we can register a case, and probe the matter. The people who lost money in the racket, can contact police on phone No. 7995095799 to file a complaint,” he said.
The racketeers lured the gullible that they would receive Rs 1,200 a day for 110 days, amounting to Rs 1,32,000 on an investment of Rs 3 lakh in cryptocurrency, and the principal amount would be returned after the end of the term. The ponzi scheme was run under different names, including UB Coin, EPZ, Yes World & GTFS.