A multi‑level cryptocurrency investment scheme reportedly duped about 230 police personnel in Visakhapatnam of roughly ₹7 crore. Authorities have urged victims to file formal complaints so investigations can proceed and funds tracing can begin.

Visakhapatnam police and local media reported an internal multi‑level investment scheme that targeted colleagues and associates within the force, resulting in approximately 230 personnel losing around ₹7 crore. Victims allege the scheme operated under several company names and promised high crypto returns, a common hallmark of Ponzi/MLM hybrid scams that rely on trusted introductions. Local authorities have said the pattern of deposits and transfers suggests coordinated solicitation and encouraged all affected officers to lodge formal complaints to enable criminal and financial probes. The incident prompted wider reporting across India, with contemporaneous cases in Nagpur (a businesswoman reporting a Rs 1.48 crore loss to a Platincoin‑style scheme) and Pune (a private company official losing Rs 25 lakh), indicating a wave of crypto‑MLM fraud targeting salaried professionals. Investigators are likely to seek transaction trails through banks and crypto on‑ramps, but recovery is often slow. Experts urge victims to preserve chat logs, transaction receipts and referral details, and to file complaints promptly with cybercrime cells and financial regulators.