Navi Mumbai: A woman from Kharghar lost a Rs 78.82 lakh after falling prey to a cyber fraudster who promised high returns on cryptocurrency investments through a Facebook advertisement. The incident, which unfolded over the course of nearly four years, is now under investigation by Kharghar police.
The 53-year-old woman, came across a Facebook post in 2020 by a man named Zuber Khan, who claimed that individuals could earn significant profits through online cryptocurrency trading. Enticed by the opportunity, the woman contacted Khan, who instructed her to download cryptocurrency apps such as The Champ Coin and Binance, and invest in various crypto tokens.
From October 3, 2020, to March 25, 2025, the woman transferred a total of Rs 78.82 lakh to Khan's bank account. However, she received only Rs 3.51 lakh in return. When she demanded the remainder of her funds, Khan allegedly told her she would need to pay an additional Rs 26.70 lakh to retrieve the rest of her money.
Realizing she had been cheated, the woman approached Kharghar Police Station and lodged a formal complaint. Based on her statement, police have registered a case against the accused under sections of cheating and relevant provisions of the IT Act.
“We have begun a probe into the financial trail and are working to track the accused and recover the funds,” a police officer from Kharghar police station said.
