Hyderabad, Oct. 13 -- A 43-year-old man was duped of Rs 21 lakh in a cryptocurrency fraud within Nampally police limits on Monday, October 12.

The victim, NN Amarendra, a resident of Motinagar in Erragadda, stated in his complaint that he was approached by Shahnawaz, a resident of Jubilee Hills, who offered to convert Rs 25 lakh into cryptocurrency.

After consulting his friends, Amarendra decided to invest the money. He and his friends visited the Binance Wallet office at Bazaar Ghat in Nampally, where a man introduced himself as Sumer and another as Sayeed.

When Amarendra asked for cryptocurrency in exchange for Rs 25 lakh, the accused asked him to show the cash first. As soon as he did so, Sumer and Sayeed allegedly sprayed pepper sp...