The city police have arrested two youth from Raibag in Belagavi district for allegedly cheating people on Instagram promising 60% profit on investments in cryptocurrency.
On March 17, a resident of the city came across an Instagram profile “Abhise_Akwane_”, which claimed to be the youngest crypto trader and soon the person handling the profile messaged the complainant promising 60% returns on investments in just 20 minutes.
The complainant gave ₹26,000 and soon, the profile stopped responding. He lodged a complaint with CEN police of North East Division, who tracked down those handling the profile to Rayabhag. The accused have been identified as Kiran Bharatesh, 21 and Ashrad Mouiddeen, 20, a final year UG student. The duo had opened several such profiles on social media platforms and cheated many individuals. Police have frozen ₹40,000 from their accounts.
