Bitcoin fraud reported in Odisha, two held

Bhubaneswar: Amidst the hype surrounding massive returns from crypto digital currency, Commissionerate Police on Monday arrested two persons for duping around Rs 15 lakh from people by luring them to invest in Bitcoins.

This is reportedly the first of its kind Bitcoin fraud to be reported in Odisha while further investigation in this connection is on, senior officials said.

The accused have been identified as Siba Prasad and his associate Rakesh Acharya.

“The accused have taken some money from people and had assured to provide them with Bitcoins. After getting complaints, we have arrested the accused and further investigation is on,” said Bhubaneswar DCP, Satyabrat Bhoi.

According to reports, prime accused Siba Prasad had struck a deal with several persons to provide Bitcoins in lieu of certain payment as deposits.

Though the clients had deposited lakhs of rupees, the key accused went into hiding and did not respond to their calls. However, Siba Prasad ran out of luck after some of the investors tricked him to come down to Bhubaneswar on the pretext of investing another Rs 10 lakh.

Police sources said that the accused had also duped several others in a similar fashion in Chhattisgarh and Assam and efforts are on to ascertain involvement of other persons in the fraud.