Man loses Rs 45 lakhs in BitCoin fraud

A businessman by the name of Vasappa Lokappa invested in BitCoin and lost 45 lakh Rupees in Hubli in Karnataka. It is said that five cybercriminals, including Delhi-based Amit Bharadwaj and Ajay Bharadwaj, are currently doing bitcoin business in Hubli.

Hubbali (Karnataka): Vasappa Lokappa, a resident of Toravihakkal in Hubli has lost Rs. 45 lakh in bitcoin fraud. It is said that five cybercriminals, including Delhi-based Amit Bharadwaj and Ajay Bharadwaj, are currently doing bitcoin business in Hubli.

These criminals are targeting businessmen by using an agent named Chetan Patil, a local man. He takes famous businessmen from the Twin Cities to hotels. There these people explain to them about making billions of rupees by investing in bitcoin. Believing these criminals, businessman Vasappa Lokappa bought bitcoin for Rs 45 lakh.

The Kamaripeta police have registered a case. Delhi-based Amit has already been sued in various parts of the country. The cheated businessman — Vasappa Lokappa said, "Many more people have been cheated by these bitcoin frauds in the city. But I registered a complaint. There are 40 to 50 people who have been cheated by criminals, like me."

Read: Bitcoin fraud: Man arrested for defrauding Rs 36 lakhs in Karnataka