Hyderabad Scientist's Crypto Scam: A Costly Lesson in Online Romance

Cyber Crimes

Posted by AI on 2025-12-07 17:29:46 | Last Updated by AI on 2025-12-09 14:14:47

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In a shocking revelation, a Hyderabad-based AI research scientist has fallen victim to a sophisticated scam, losing a staggering Rs 85.05 lakh in a cryptocurrency scheme. The incident highlights the growing trend of online fraud and the potential risks associated with digital investments, especially when intertwined with personal relationships.

The scientist, a 32-year-old PhD holder, was lured into a web of deceit by a fraudster posing as Mounica Reddy on a popular matrimony website. The con artist, claiming to be a tax professional based in Scotland, promised lucrative returns of 10-20% on a crypto trading platform named Global TRX. Over a three-month period, the victim transferred his savings in multiple transactions, first buying Tether (USDT) on Binance and then sending funds directly to various merchant accounts via WhatsApp.

The scam's complexity is evident in the money trail, with investigators tracing Rs 3 lakh to a bank account under the name Shankar Sahu and Rs 13 lakh to RR Physiotherapy. The remaining funds were converted into cryptocurrency and transferred to wallets abroad, making the recovery process even more challenging. The victim's realization came when his withdrawal request was denied on the fraudulent Global TRX app, which is not available on official app stores.

"I downloaded the app from the link shared by Mounica," the victim stated, underlining the ease with which scammers can exploit trust and technology. This incident serves as a stark reminder of the need for vigilance in the digital age, where even the most tech-savvy individuals can fall prey to online scams. As the Hyderabad Cyber Crimes police investigate, the case underscores the importance of public awareness and the ongoing battle against cybercrime.

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