Techie duped for Rs 1 crore in crypto scam

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A 46-year-old software engineer from Wadgaonsheri was scammed by scammers who claimed that investing in cryptocurrencies would yield significant profits.

As of September 20, 2021, the Complaint began investing the funds. Phone numbers that were used to send messages through an online messaging app are being sought by police. Letters have been sent to internet exchange providers requesting information about e-wallets. Responses from the relevant authorities are pending.

According to police, the scammers put the technician’s phone number to a group where members talked about various cryptocurrencies and the income they generated, and they contacted him via an online messaging service. The victim contacted the scammers using the app and indicated his interest in buying cryptocurrency. It has made good returns on its small initial investments. The victim gained access to an account on a website where he could review details of cryptocurrency investments and earnings so far.

The suspects asked the victim for additional money to invest in order to receive better returns after gaining his trust. The victim chose to put his money into their transactions because he believed they were legit cryptocurrency traders. He borrowed an additional Rs 50 lakh in personal loans from banks and friends after using his savings of around Rs 50 lakh.

The victim invested a total of Rs 1.12 crore in cryptocurrencies, which was then transferred to his online e-wallet.

The victim discovered one fine day that the suspects had deleted his account and ceased all contact with him. He tried several times to contact them on a chat application, but without success. Later, he received emails from scammers promising to repay his investment with interest. They nevertheless demanded that the technician pay an additional Rs 5 lakh. At this point, the technician knew he had been cheated. The victim first filed a complaint, which was followed by a preliminary investigation.

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