Bhopal (Madhya Pradesh) [India], The Cyber ​​Crime Branch of the Bhopal Police has arrested two people on Saturday for allegedly duping people on the pretext of cryptocurrency investments, officials said on Saturday. The arrested accused have been identified as Trilok Patidar (35) and Amar La Wadhwani (42), residents of Bhopal. According to officials, the accused lured people into investing in Gold Desire Coin (GDC) by promising that within a few days its price would skyrocket like Bitcoin. The modus operandi of the accused included operating investments through the website. Initially, they made small payments to create the illusion of profitability.However, when someone received a significant payment, the accused suddenly stopped it. Additional DCP (Crime) Shailendra Singh said, "We have arrested two accused who were cheating people in the name of investment by setting up cryptocurrency exchanges. They created a website where people were induced to invest and get high Cheated with promise of returns." Chauhan to ANI. The investment was a Ponzi scheme and thousands of customers were persuaded to invest in it.When the crime branch investigated his website and bank account, it came to light that people had been defrauded to the tune of Rs 5 crore. Apart from Madhya Pradesh, this racket operated in Uttar Pradesh, Jharkhand, Orissa and Maharashtra. The accused organized seminars in prominent hotels to motivate people for investment. He said, "During the investigation we came to know that the mastermind behind this scheme is in Dubai. We are currently investigating the matter and will take action against that person." Additional DCP Chauhan further said that the action was taken after a complaint lodged with the Cyber ​​Crime Branch of Bhopal Police.“We received a written complaint in this regard, after which we investigated this fraudulent exchange. We inquired about its registration and the company's registration, gradually all the layers of fraud were revealed. But, we found out the extent of this racket. So far, we have arrested two persons, and further action will be taken as the investigation progresses."