Dhanraj and Santosh have known each other since 2014. Santosh had reportedly asked Dhanraj to invest in cryptocurrencies. Dhanraj says that at the behest of Santosh, he had invested around 2.25 crores on cryptocurrencies and other businesses through online and cash transactions, which he has lost.
Currently, how much money Dhanraj has invested in crypto assets is not disclosed. The Jayanagar police have reportedly registered a case of cheating against the suspect.
Earlier in 2021, a 38-year-old crypto investor from Bengaluru allegedly lost around Rs 10 lakh in fraud. The incident took place on a crypto trading platform, when the victim was trying to transfer Rs 90,000 from a bank account to a wallet, but she connected on the wrong helpline number.
At that time, the unidentified fake helpline operator took OTP from the victim and transferred over Rs 9 lakh money to his own personal wallet. Because transfers that take place in blockchain-based cryptocurrencies are not traceable, it is difficult to recover the money lost in this type of fraud.
In December 2021, Shikha Goel, Additional Police Commissioner (Crime and SIT), Hyderabad, advised crypto investors in India to avoid transferring their assets to unknown, unauthorized wallets.
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