| 2 minutes read

2 minutes read

Delhi Woman Loses Rs 41 Lakhs In A Bitcoin Scam

| Published on March 20, 2018

Cryptocurrency is making buzz all over the world. Past few years have seen a huge growth in people who are interested to invest in Bitcoins. One thing that makes cryptocurrency investments less popular is the security issue and no physical presence makes people think about putting money in this virtual form of money.
A Delhi based woman has lost Rs 41 lakh in a Bitcoin scam and the lady has claimed there are many more victims of this who have lost a sum of Rs 50 crore in this scam. Her wallet was hacked by a group of unidentified men. The woman revealed that she earlier lost 6.5 Bitcoins worth Rs 6.5 lakh and now has lost another Rs 35 lakh to hackers who cheated by suggesting her ways to retrieve the money she had invested. She has filed a complaint against the hackers in the cyber cell and the investigation has started already.


According to the reports, she started investing her money in Bitcoins in February 2017 after a friend introduced her to this technology. She attended seminars of a company in 5-star hotels that made her and other people believe in the company. She had received money at that time from her mutual fund investments and decided to put this money in buying Bitcoins.
“I invested all my savings in the company along with my friends and family members. The company owners assured me returns of 12 percent monthly on my investment,” she told in an interview.
The hackers played the game very cleverly. They assured investors by making several websites. In October 2017, they contacted the lady and asked her about registered email ID and password that she had used for Bitcoin investments so that her return could beeasily processed. After knowing the details they were quick to widthdraw the money.

The government has taken many steps to stop people from investing their money in cryptocurrencies. RBI had issued guidelines about this some time ago. You can read the RBi guidelines on Bitcoins investment by clicking here.
It is very important for the investors to be aware of the risks that are involved in putting money into virtual currencies.
Also Read: A complete guide on how Blockchain technology works

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