Mumbai Man Duped Of Rs 1.6 Crore In Crypto Fraud, Huobi Rejects Rumors Of Merger With Poloniex

A 38-year-old software program engineer from Navi Mumbai has been duped of Rs 1.6 crore by a Filipino lady whom he met on a relationship app , a media report mentioned.

Times of India reported that the lady, named Rose Chen, persuaded the person to interact in on-line bitcoin buying and selling. The report mentioned their relationship grew shut in January after they met on a relationship app.

Chen allegedly suggested him to spend money on cryptocurrencies, claiming she made Rs 2 crore by doing the identical within the earlier 12 months. The lady launched herself as a local of the Philippines and instructed him that a number of of her kin work as monetary advisors for the cryptocurrency business.

Although the fraud occurred between January and May, the sufferer reported the matter to the police solely on November 18.

He claimed the lady requested him to obtain the Binance and USB Coin Exchange apps for crypto funding. He additionally claimed that the apps confirmed he made a revenue of $229 on his preliminary funding of $199. In his subsequent funding of Rs 1.6 crore, he additionally made a revenue of Rs 2.2 crore. But on April 5, when he tried to withdraw the cash, he was denied the money.

Huobi Rejects Rumors Of Merger With Poloniex

Cryptocurrency trade Huobi has denied rumors of a merger with Poloniex, stating it’s “unfaithful.”

“We wish to state for the file that rumors stating Huobi will quickly merge with Poloniex are categorically unfaithful,” Huobi mentioned in a press release.

A media report claimed Justin Sun, the creator of the Tron community and a Huobi advisor, could have fueled the rumor, nevertheless it didn’t give any particular element on how he could have been concerned. Sun was a member of the funding group that purchased Poloniex in 2019.