By Mahima Joshi,News18

Copyright news18

A 36-year-old resident of Bhosari in Pune has fallen victim to a bitcoin scam and lost Rs 1.11 crore after being enticed to invest with the promise of high returns.
Though the scam occurred between March 25 and July 23, the victim approached the police and filed a complaint only on September 22 at the Cyber Police Station in Pimpri Chinchwad.
According to the police, the 36-year-old was contacted by fraudsters offering investment opportunities in bitcoin and digital gold mining. He was promised substantial returns in a short period. Persuaded by their claims, he transferred Rs 1,11,80,000 through multiple online transactions.
Initially, he was led to believe he had earned Rs 7,00,00,000 in profit, which was displayed on a dashboard he was instructed to download on his mobile phone.
However, when he attempted to withdraw the money, the gang demanded a 20 percent charge and rejected his withdrawal request when he refused to pay.
Realising he had been deceived by cyber criminals, he sought police assistance. A case was registered under sections 316(2), 318(4) 3(5) of the BNS and sections 66(c) and 66(d) of the Information Technology Act.