India, Sept. 24 -- A 36-year-old resident of Bhosari fell victim to a bitcoin scam, losing Rs.1.11 crore after being lured to invest with promises of high returns.

Although the scam took place between 25 March and 23 July, the victim approached police and filed a complaint only on 22 September at the Cyber Police Station in Pimpri Chinchwad.

Police said the 36-year-old was approached by fraudsters with investment opportunities in bitcoin and digital gold mining, assuring handsome returns within a short period. Convinced by their assurances, he sent Rs.1,11,80,000 via multiple online transactions.

Initially, he was made to believe that earned Rs.7,00,00,000 as profit, which reflected on the dashboard that he was made to download on his ...