A 60-year-old Indian woman lost nearly $30,000 in a crypto investment scam after she was contacted at the matrimonial site where she had registered to search for a life partner.
The scammer told her that he was a US-based engineer and could make her a quick profit through bitcoin investments.
investment in love gone wrong
According to the media reportsThe Mumbai woman, who is a retired executive from a private company, registered on a matrimonial website in early 2022. Soon, she was approached by a person on the site, and the two exchanged their phone numbers and began to talk. call and chat regularly.
In March 2022, the man told him about a cryptocurrency investment opportunity and how he was supposedly making huge passive income. He shared someone else’s phone number and told her that he would guide her in making the investments.
Between April 2022 and December 2022, the woman invested almost $30,000 (INR2.4 million) in cryptocurrencies through “the guide”. At a time when she had $62,000 in her virtual account, she asked “the guide” to help her withdraw the money. She was told that she would have to pay a currency conversion fee and taxes equal to $15,000 to withdraw the money.
While he was still thinking about what to do, he noticed that the duo had stopped communicating and his virtual account had become dysfunctional.
At this stage, he approached the police and complained. According to the authorities, a case has been registered in the relevant sections of fraud, forgery and criminal conspiracy.
Same City Other Incident
similarly fraud, another Mumbai woman was scammed out of nearly $12,500 (INR one million) when looking for a work-from-home opportunity and was asked by scammers to invest in bitcoin. The 49-year-old victim realized she was being tricked when they asked her to pay close to $10,000 (INR 0.8 million) just to withdraw the money from her.
India has reported quite a few crypto scams in the recent past. And in most of these cases, investors’ lack of knowledge about cryptocurrency investments has made them vulnerable to fraud.
more instances
beginning of this month crypto potato reported that an Indian student committed suicide by hanging himself after losing $2,400 investment to a fake bitcoin investment scheme. India has quite a large list of crypto scams to its credit.
Another recent example was the arrest of a defendant in a $160 million crypto scam.
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