The Mumbai Police have launched an investigation into a cryptocurrency investment fraud case, with seven individuals losing ₹1.63 crore. According to reports, the scammers targeted potential investors through social media platforms, particularly Facebook.
One of the victims, a 45-year-old businessman from Nashik, was approached by a woman who claimed to offer lucrative returns on investment in cryptocurrency. The victim was induced to download and install a fake trading app, which directed them to transfer funds online.
The scammers allegedly made over a dozen online transactions between December 12 and January 22, with the victim losing ₹15.74 lakh. When the victim tried to withdraw their earnings, they were asked to pay an additional ₹15 lakh, prompting them to approach the police.