Amaravati, November 28, 2025: A cryptocurrency fraud has ensnared 230 police personnel in Visakhapatnam, with two constables from the 2007 Rural AR and 2009 batches allegedly swindling them out of Rs 7 crore through bogus schemes.
The scam, under names like UB Coin, EPZ, Yes World, and GTFS, lured victims with promises of Rs 1,200 daily returns for 110 days on a Rs 3 lakh investment, totalling Rs 1.32 lakh plus principal, only to vanish with the funds.
Commissioner of Police Shanka Brata Bagchi, learning of the racket two days ago, has directed cybercrime teams to probe, but stressed no case can proceed without formal complaints. "I have not received any complaint so far.
I request victims to come forward and file a formal complaint so we can register a case and investigate," Bagchi said, providing the helpline 7995095799. The officers, targeted due to trust in colleagues, face financial ruin amid embarrassment.
