Local reports say around 230 police personnel in Visakhapatnam lost roughly ₹7 crore to a multi‑level cryptocurrency investment scheme. Authorities are urging victims to file formal complaints to enable investigation.

A high‑impact regional story out of Visakhapatnam (Vizag) reports that approximately 230 police personnel were persuaded to invest in a multi‑level cryptocurrency scheme that collectively cost them an estimated ₹7 crore. According to local coverage, victims were recruited with promises of high returns, referral bonuses and the appearance of legitimacy through staged testimonials and recurring payouts. When withdrawals stalled, many realized they had been drawn into a classic pyramid‑style crypto fraud that cycled new investor funds to earlier participants. Local law enforcement — paradoxically both victims and investigators — have urged colleagues and other affected citizens to file formal complaints to open probes and enable asset tracing. The case highlights persistent vulnerabilities when social engineering targets trusted occupational networks and underscores the difficulty of recovering funds once converted and moved across crypto platforms. Authorities reminded potential investors to be skeptical of guaranteed returns, verify regulatory credentials, and consult independent financial advisers before transferring large sums into opaque digital‑asset schemes.