A 60-year-old Indian woman lost nearly $30,000 in a cryptocurrency investment scam after she was contacted on a matrimonial site where she registered herself to search for her life partner.
The con man told her that he was an engineer in the US and he could earn her quick profits with bitcoin investments.
An investment in love gone wrong
According to the media reportsa Mumbai woman, a retired CEO from a private company, registered on a matrimonial website in early 2022. Soon someone on the site contacted her, they exchanged phone numbers and started calling and chatting regularly.
In March 2022, the man told her about a cryptocurrency investment opportunity and how he was allegedly generating huge passive income. Share someone else’s phone number and tell her that he will guide her in making the investments.
Between April 2022 and December 2022, the woman invested nearly $30,000 (INR 2.4 million) in cryptocurrencies through “The Proof.” At some point when she had $62,000 in her virtual account, she asked the “guide” to help her withdraw the money. They told her she would need to pay a currency conversion fee and taxes equivalent to $15,000 to withdraw the money.
While she was still pondering what to do, she noticed that the duo had stopped communicating, and her default account was now disabled.
At this point, I approached the police and complained. According to the authors, a case was registered under the relevant sections of fraud, forgery, and criminal conspiracy.
Same city another incident
in similar scamAnother Mumbai woman was scammed out of nearly $12,500 (one million Indian rupees) when she was looking for a home business opportunity and the scammers asked her to invest in bitcoins. The 49-year-old victim realized she was cheated when she was asked to pay nearly $10,000 (INR 0.8 million) just to withdraw her money.
India has reported quite a few cryptocurrency scams in the recent past. And in most of these cases, the investors’ lack of knowledge about cryptocurrency investments has left them vulnerable to fraud.
More instances
early this month Potato encryption It reported that an Indian student committed suicide by hanging himself after losing $2,400 worth of investment Fake Bitcoin investment scheme. India has a fairly large list of cryptocurrency scams.
Another recent example is the arrest of a suspect in a $160 million cryptocurrency scam.
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