2 Arrested for Online Investment Scam in Karimnagar

Two men were arrested on Thursday in Rajanna Sircilla district for allegedly running an online investment scam that promised high returns on small investments. 

Superintendent of police Mahesh identified the accused as Kapil Sharma (21) and Pankaj Kaushik (24), both residents of Aligarh, Uttar Pradesh. 

According to the SP, the pair sent links to the XTcoin.com web application via



WhatsApp, promising victims substantial profits from minimal investments. One victim, Gugulothu Ramesh, a software employee from Chandurthi village, initially invested ₹2,500. 

Encouraged by apparent high returns on the site, he gradually invested more, ultimately attempting to withdraw ₹7.32 lakh, only to find the website shut down. Realising he had been defrauded, Ramesh filed a complaint at Chandurthi Police Station.