Hyderabad: Love Scam Drains Techie's ₹38 Lakh Savings

Hyderabad: A 35-year-old software engineer looking for a bride ended up losing ₹38.3 lakh to cryptocurrency fraudsters, according to a complaint lodged with the Malkajgiri police.

It began innocuously enough on November 16, 2025, when the victim posted a matrimonial alliance request on a matrimony website. A woman responded and on November 21, they shifted the communication to WhatsApp. Amid talk of a possible marriage, the woman began claiming extensive expertise in cryptocurrency trading and projected her family as seasoned investors who had earned crores through digital assets.

The woman told the victim that the marriage proposal would not be accepted unless he invested in cryptocurrency. He was emotionally pressured and assured of high returns with minimal risk, he invested ₹1 lakh on November 1, via a mobile website resembling a cryptocurrency trading platform.

The victim later invested more and the platform showed more purported profits. He continued transferring funds over the following days, investing a total of ₹38.62 lakh, even borrowing cash for the purpose.

The platform showed profits exceeding ₹1.08 crore but the victim was allowed to withdraw only ₹31,758. When he wanted to withdraw more money, his account was frozen and he was allegedly asked to pay an additional ₹21.58 lakh. That is when he approached the police.