Crypto Agents have a Field Day in Jagtial; Innocent People Lose Lakhs

Karimnagar: Crypto currency and other online trading that used to be confined to urban areas not long ago have now spread to villages and become a curse for Telangana News, Telangana Special News, Crypto Currency, Karimnagar, Jagtial in rural areas.

These agents, by luring innocent people with promise of big money, not only drag them into this illegal business but dupe them of crores of rupees in Jagtial district.

By making people believe that they can make five to 10 times more income in the form of dollars, these agents have pulled thousands of people into this illegal business which runs in the name of USDT BEP20 through RIXOS trade app.

People are told to download the trust wallet applications on assurance that they will give guarantee for their money.

After joining them in the illegal trade, these agents drag them into the chain-system and convince them to join other people so that they can generate more money.

In the initial stages, people get some money to gain their confidence. Then they join other people in the chain system anticipating more easy money.

The agents create special WhatsApp groups and drag middle-class and common people including government employees.

After a few months, when people notice that they do not get money for the amount they invested in the apps, they questioned the agents. But the latter escape by giving false excuses.

Some people approached Jagtial police station. The police after registering a case started an investigation and busted the crypto currency racket by nabbing five agents. They were identified as Gummidala Narsaiah, Koyalkar Venu, Are Rajesh, Kurela Babu, Kotte Maruthi.

In another incident, R. Santosh from Jagtial town was cheated by agents by making him invest Rs 1.5 lakh in money earning app R.G.S.