Bengaluru Techie Loses Rs 43 Lakh to Elaborate Crypto Scam

A recent cryptocurrency scam in Bengaluru has highlighted the need for caution when dealing with online investment opportunities. A software engineer, 36, from Thanisandra fell prey to an elaborate scam where he was promised a part-time job that involved rating products on Amazon.

The scammers initially paid him a few thousand rupees for completing tasks, but later added him to a Telegram group posing as affiliates of Coinbase, a legitimate American cryptocurrency exchange. They shared fake documents and email addresses to convince the victim of their authenticity.

However, when the victim tried to withdraw his money, the scammers cut off all contact, claiming that the Reserve Bank of India required certain documents. The police have registered a case and warn people to be cautious of such scams, especially those involving cryptocurrency exchanges.

The incident is part of a larger trend where victims with a tech background are falling prey to cryptocurrency-related scams. In 2026 alone, 395 task fraud cases were registered in Karnataka, including 26 involving solely cryptocurrency scams.