Mumbai News: Man Swindled Of ₹55 Lakh In Trading Fraud

A 61-year-old man has lost Rs 55 lakh to scammers in cryptocurrency trading fraud in 24 transactions in two months.

According to the Navi Mumbai police, the complainant is a resident of Nerul, Navi Mumbai. On January 24, he received a WhatsApp message offering guidance on crypto trading and was asked to register via a provided link. On April 23, he invested Rs20,000 and saw his earnings double on a fake website.

When he tried to withdraw his earnings, he was told he couldn’t until June 23. Between April 23 and June 19, he transferred Rs55.47 lakh in 24 transactions to various accounts. Despite seeing his supposed earnings reach Rs11 crore on the fake website, he was asked for more money to withdraw it. Realising the scam, he approached the police and provided details of the WhatsApp group, contacts, fake web links, and transactions.