Bengaluru police have arrested 12 individuals in connection with a Rs 17.64-lakh cryptocurrency fraud and robbery case, in which the victim was assaulted. The arrests were made following a complaint filed by a resident of Kodigehalli, who was planning to open a café on the Sira Highway.
Victim Targeted While Shopping Online
According to the police, the complainant was looking to purchase kitchen tiles, cutlery, and equipment online when he was lured into a fraudulent cryptocurrency investment scheme. The suspects allegedly promised high returns on crypto investments, convincing the victim to transfer Rs 17.64 lakh. When the victim realized the fraud and demanded his money back, the suspects assaulted him and robbed him of additional valuables.
Police Investigation and Arrests
The Bengaluru police launched an investigation after the complaint was filed, tracing the suspects through digital footprints and financial transactions. All 12 arrested individuals are believed to be part of a larger network involved in similar crypto frauds. Police have recovered part of the stolen amount and are probing further to identify other victims.
Rising Crypto Fraud Cases in Bengaluru
This case highlights the growing trend of cryptocurrency-related crimes in Bengaluru. Police have urged citizens to exercise caution when dealing with online investment schemes and to verify credentials before transferring funds. The arrested suspects have been charged under relevant sections of the Indian Penal Code and the Information Technology Act.
