The Cyber Cell of Cyberabad on Saturday arrested four persons, including a woman, for cheating a man on pretext of providing loan by mortgaging land documents and transferring Bitcoins to the victim’s account on a fake website.

Vasi Reddy Radha Rani, Ponnapati Praveen Kumar Reddy, Prakash Reddy and Katari Konda Balaram cheated Manesh S. Yadav to the tune of Rs. 35 lakh by creating a Bitcoin account on, a fake website they created, said G. Janaki Sharmila, DCP (Crimes).

In his complaint, Mr. Yadav said Radha Rani suggested to him to procure an industrial land in Visakhapatnam near Gangavaram port worth Rs. 108 crore and agreed to arrange funding from bank. She then transferred fake Bitcoins worth Rs. 60 crore to his Bitcoin account, taking Rs. 25 lakh cash as commission.

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