A businessman from Hyderabad has reported a significant loss of ₹73 lakh to an organized online betting scam. The victim, aged 33 and residing in AC Guards, filed a complaint with the Hyderabad Cyber Crime police on February 14, detailing how he was lured into the fraudulent scheme.
Details of the Online Betting Scam
The victim stated that fraudsters impersonated tele-callers and customer support representatives of an online platform called ‘BetInExchange.’ The scam operated through multiple mirror websites, enticing him to bet on various games, including cricket matches, teen patti, and casino games.
Timeline of Events
- Initial Deposit: The man began his betting journey in January 2025 with a deposit of ₹20,001.
- First Profits: He claimed to have earned ₹5,000, which falsely validated the platform’s legitimacy.
- Total Transfers: Over the following 13 months, he transferred nearly ₹1 crore, including funds from his wife’s accounts.
- Blocking Access: After making a profit of over ₹20 lakh, the victim was unable to withdraw larger amounts, leading to restricted access to his betting account.
- Redirected to Mirror Sites: When access to his account was blocked, the fraudsters redirected him to additional mirror domains such as BetInExchange247, FunInExchange, FunInMatch 360, and Funinmatch555.
Legal Action Taken
In response to the complaint, the police have registered a case under several sections of applicable laws. These include:
- Sections 66C and 66D of the Information Technology Act
- Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita (cheating and personation)
- Sections 3 and 4 of the Telangana Gaming Act
The scam highlights the growing issue of online betting fraud and the need for greater vigilance among potential victims. The Hyderabad Cyber Crime police are investigating the case, aiming to identify and apprehend those responsible for this elaborate scheme.
