Tamil Nadu's Director-General of Police (DGP) C Sylendra Babu, who is known for his socio-development awareness and campaigns, has now come up with a big warning for the Tamil Nadu people over the growing culture of investing in a scam under the name of 'Bitcoin'. To express the weight of the scam, Sylendra Babu has revealed that the police officers have also become vulnerable to his scam with a police officer in Chennai has lost Rs 30 lakh. 

Sylendra Babu has said that the cyber-cheating under the name of Bitcoin has been growing massive and instructed the people to be cautious in their investments. He has released a video on his Facebook page and said, "Greetings, this post is for the people. Nowadays, the scam of investing in Bitcoin has been rampant online and after believing it, the people are investing a small amount and they are given double the amount of what they had invested." 

"Then the people again invest the money for the second time. They again get double the amount of what they had invested. But, when they invest for the third time, the scamsters coerce the people to invest more money so that they can join the membership. With this belief, the people invest more, but they are not getting anything in return. The Chennai Police Commissioner has already informed that the police officers, who are in the stage of creating awareness about this scam to the people, had also lost their money", Sylendra Babu added.

The DGP further said, "If the money is stolen, it is very difficult to find it. If the money goes to America or Africa, we must approach the International Police. Even the International Police can't able to stop this scam. A police officer in Chennai lost Rs 20 lakh in this scam while another police officer had lost Rs 30 lakh. The scamsters will reach you with their attractive schemes through WhatsApp, Telegram, and social media and will speak about them. But, don't invest in it as the money will be washed out completely. They will cheat the money by triggering the greed in you." Sylendra Babu's video of sounding an alarm about the scam has been going viral. 

The DGP further wrote, "Bitcoin investment is a big scam on the internet today. If you invest your hard-earned money and borrowed money, you will lose all the money. Bitcoin is the biggest scam on the internet today. Should you invest your hard-earned money and borrowed money you are in for a bitter disappointment." 

It must be noted that recently, Chennai Police Commissioner Shankar Jiwal has issued a guideline to the police officers to stay off from such hoaxes. He has highlighted that two police officers were already been cheated by investing in online bitcoin trading. He said that these two police officers had invested the money in instalments and they were finally cheated. "Police should reap the benefits by depositing their savings in quality banking and investments and they should not get deceived through such evil practices", the Chennai Police Commissioner added.