Cyber fraud: Hyderabad IT employee loses over ₹1 crore in fake Bitcoin trading scam
HYDERABAD: An IT employee from Gajularamaram has lodged a complaint alleging that he was cheated of more than ₹1.04 crore in an elaborate cyber fraud involving a fake Bitcoin trading platform, after being lured through a matrimonial website.
According to the complaint, the victim said he sent an expression of interest on Matrimonial site on November 10, 2025, to a profile named Sunita Bharggavasa, which was accepted. The woman claimed she was residing in London and asked him to share his biodata on WhatsApp.
He stated that the accused gradually built trust and persuaded him to invest in Bitcoin trading through a website, www.bitcoin-uxc.com, starting with an initial investment of ₹1.1 lakh. To gain confidence, she showed him small profits of about ₹14,000 before convincing him to invest further amounts of ₹5 lakh, ₹10 lakh and ₹20 lakh.
The complainant said she claimed to have added ₹25 lakh from her UK account, projecting the total investment as $50,000 (about ₹50 lakh). He alleged that when he was unwell and unreachable, she contacted his sister from an Indian mobile number and continued communication.
He further stated that after multiple trades, the platform showed profits exceeding 2,00,000 USDT, equivalent to nearly ₹2 crore. He was then instructed to raise a withdrawal request of 1,00,000 USDT to clear liabilities incurred through credit cards taken from himself, friends and relatives.
When he attempted withdrawal, the platform demanded payment of 10% tax amounting to 14,544.9 USDT (around ₹14.54 lakh), which he paid on December 14, 2025, using borrowed credit cards. The next day, the platform cited an alleged Anti-Money Laundering issue and demanded 25,000 USDT (around ₹25 lakh), claiming the remaining amount had been refunded to her account.
The victim said he applied for loans from ICICI Bank and paid 15,000 USDT as demanded. Subsequently, he was asked to pay a one-time transfer fee of 9,900 USDT and later another 9,000 USDT, which he cleared by availing further loans and credit cards.
Despite these payments, the platform informed him that the withdrawal could not be processed due to alleged transfers to different accounts, which he said was false. He later realised that the accused had created a forged trading app to dupe him.
In his complaint, he stated that he ultimately transferred ₹25 lakh to various bank accounts and UPI IDs linked to the fraudsters, of which only ₹20,000 was returned. The app later showed a virtual profit of ₹1.5 crore and demanded an additional ₹79.50 lakh to process withdrawal, following which he made enquiries and realised it was a scam.
He has sought legal action against the owners and management of the fraudulent website, associated WhatsApp users, customer support handles, suspect bank account holders and other beneficiaries, alleging a total wrongful loss of ₹1,04,30,830.
