Bengaluru entrepreneur loses Rs 17 lakh in fake crypto deal; 12 arrested
The Sanjaynagar police in Bengaluru have arrested 12 individuals for allegedly robbing an entrepreneur of Rs 17.64 lakh after luring him with a fake cryptocurrency exchange offer. Police recovered Rs 13.90 lakh in cash, 13 mobile phones, six two-wheelers, and a car used in the crime from the accused.
According to investigators, the complainant, an entrepreneur from Devinagar in Kodigehalli, was planning to set up a cafe on the Sira Highway and was exploring ways to import kitchen equipment from China and Japan. During this process, he was reportedly advised to make payments in cryptocurrency and to join a WhatsApp group called 'Crypto India F2F'.
The group members convinced him to meet for a cash-to-crypto conversion. When he arrived with Rs 17.64 lakh, the suspects allegedly assaulted him and fled with the money. Police tracked down the accused using technical surveillance and recovered most of the stolen cash.
The arrested individuals have been identified as the mastermind and his associates. They have been charged with robbery and cheating. Investigations are ongoing to determine if they were part of a larger syndicate.
