Hyderabad: Fraudster held for cheating victim of Rs 3.1 lakh over bitcoins

HYDERABAD: An accused from Bangalore was arrested on Saturday since he allegedly cheated a Hyderabad-based person on the pretext of selling bitcoins.
Police said that Manish Reddy lodged a complaint claiming that Rs 3.14 lakh was paid to the accused Akshay Gowda, a resident of Bangalore, to buy bitcoins for trading. Initially, the accused sold bitcoins on couple of occasions to the victim.
After gaining confidence, he lured the victim to buy bitcoins in large quantity and later, became inaccessible.