FPJ Cyber Secure: IT Professional Loses ₹21.97 Lakh In Crypto Currency Scam

FPJ Cyber Secure: IT Professional Loses ₹21.97 Lakh In Crypto Currency Scam

Accused created an e-commerce website for victim and falsely claimed that to sell and deliver 1000 products, the victim needed to invest money. The fraudster convinced the victim to make 50 payments in cryptocurrency to a wallet provided by the accused.

Somendra SharmaUpdated: Friday, November 24, 2023, 06:21 PM IST
article-image
FPJ Cyber Secure: IT Professional Loses ₹21.97 Lakh In Crypto Currency Scam |

A 34-year-old man who works in an IT company had recently lost Rs 21.97 lakh to a scammer.

Details of the scam

The accused had designed an e-commerce website for the victim and told the victim that in order to sell and deliver 1000 products from the said website to the customers, the victim will have to make some investment. The fraudster then induced the victim to pay the money in 50 transactions in a crypto-currency wallet provided by the accused.

According to the police, the victim is a resident of Panvel. During the period of 07/05/2023 to 27/06/2023, the victim who was interested in preparing his own e-commerce website, was induced by the scammers to join a WhatsApp group. One of the accused, identified only as Junaid, designed an e-commerce website and told the victim that in order to sell and deliver 1000 products from the said website to the customers, the victim will have to make some investment.

Accused Promises Refund After Deceptive Cash-on-Delivery Sale

The accused also promised the victim that the money would be refunded after 31 days after the cash-on-delivery sale. In order to make his con look genuine, Junaid also shared a screenshot with the victim showing that there had been sales of USD 56,000 on the website. Later when the victim demanded his profit, Junaid began demanding for more money and also threatened the victim. He then realised that he had been duped.

A case has been registered in the matter on Wednesday under sections  34 (acts done by several persons in furtherance of common intention), 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code and section 66D (cheating by personation by using computer resource) of the Information Technology Act.

RECENT STORIES

Mira-Bhayandar: Recruitment Boost For MBVV Police; 945 New Recruits Join After Training, Adding...

Mira-Bhayandar: Recruitment Boost For MBVV Police; 945 New Recruits Join After Training, Adding...

Mumbai: Man Commits Suicide By Hanging After Killing Co-Worker

Mumbai: Man Commits Suicide By Hanging After Killing Co-Worker

Mumbai: CCTV Footage Showed Extortion Case Accused Romi Bhagat’s Driver Carrying 6 Trolley Bags

Mumbai: CCTV Footage Showed Extortion Case Accused Romi Bhagat’s Driver Carrying 6 Trolley Bags

'Don't Encourage ​Illegal Banners,' Bombay High Court Appeals To Public

'Don't Encourage ​Illegal Banners,' Bombay High Court Appeals To Public

Navi Mumbai: NMMC Presents ₹4,950 Crore Surplus Budget; Check Highlights

Navi Mumbai: NMMC Presents ₹4,950 Crore Surplus Budget; Check Highlights