Over a hundred people have filed complaints after getting cheated by investing in cryptocurrencies like iCoin and Bitcoin.

The police have started investigating the case. 

Former MLA late C M S Shastri’s granddaughter Sidhura who had invested in cryptocurrency and after getting cheated, she had filed a complaint to Town Police station. 

“Someone had promised to double the invested money. Believing them, my mother-in-law and wife Sindhura had invested. I am not sure of getting back the amount. We have filed a complaint,” said Naveen, Sindhura’s husband to DH. 

Several people in Uppalli, Gaurikaluve, Vijayapura, Tipunagara, Allampura, Mallandooru, Mallenahalli, Kadur, Mudigere, N R Pura, Beluru have invested in Bitcoin and iCoin. Complaints were filed in various police stations in Chikkamagaluru on Sunday. 

A resident of Mallenahalli said, “After listening to a man from Mallandoor, I got cheated. I had pledged my mother’s gold chain for Rs 1 lakh. I had given him Rs 77,000 for investing in cryptocurrency. After investing, I had received a message on my phone. I had planned to construct a house. Now everything is lost.” 

A Muslim woman said, “I had invested the amount through an agent. The agent had promised to double the amount within two months. If an amount of Rs 35,000 is invested for 200 days, then one will get Rs 4 lakh. Believing the agent, I had invested Rs 1.40 lakh. Now, I don’t have anything.”  

The police have already arrested Rukshinda Banu in the case and the court has remanded her in judicial custody. 

According to police, “The cryptocurrency business is being carried out for the last one year. Initially, a few have gained profit. When a large amount was mobilised, the website has been closed down.” 

The police are looking for others who were part of the deal with Rukshinda Banu.

We will trace them all, said the police.