The Rajanna Sircilla police on Thursday arrested two men from Uttar Pradesh for allegedly operating a fraudulent online investment scheme under the guise of the “XTcoin” platform.
Superintendent of Police Mahesh B. Gite identified the accused as Kapil Sharma (21) and Pankaj Kaushik (24), both residents of Aligarh. The duo allegedly shared XTcoin.com web application links via WhatsApp, luring victims with false promises of high returns on small investments.
One of the victims, Gugulothu Ramesh, a software professional from Chandurthi village, initially invested Rs2,500. Seeing what appeared to be impressive gains, he continued investing, eventually accumulating Rs7.32 lakh in deposits. However, when he tried to withdraw his earnings, the website was inaccessible — revealing the scam.
Ramesh lodged a complaint with Chandurthi Police Station, prompting an investigation that led to the arrests. Authorities warn the public against falling for online schemes and advise verification before financial involvement.