Mumbai Man Loses ₹1.93 Crore in Online Crypto Investment Scam

HKAN | Jul 15

JUST IN: Mumbai Man Loses ₹1.93 Crore in Online Crypto Investment Scam

 

A retired 62-year-old professor from Mumbai has been defrauded of ₹1.93 crore in an elaborate online cryptocurrency investment scam, according to a recent report. The man fell victim after developing a friendship with a scammer on Facebook who posed as a crypto investment advisor.

 

How the Scam Happened

The professor was contacted on Facebook by a woman named “Ayesha,” who claimed to work at a company called Global Art. Over time, they built a personal connection through regular online chats. Eventually, Ayesha convinced the victim to open a cryptocurrency account on Binance, where he began depositing money under her guidance.

 

After transferring nearly ₹1.93 crore, the professor realized he had been scammed when Ayesha stopped responding.

 

The Second Scam

The victim was then contacted by someone claiming to be “Koyal,” who offered to help recover the lost funds for a fee. Another scammer, posing as “Prashant Patil,” promised a payout of ₹7.5 lakh if a processing fee was paid. Believing he could recover his losses, the victim sent additional money, which was also stolen.

 

Police Action

The Mumbai West Region Cyber Police have registered a complaint under relevant sections of the Information Technology Act and are investigating. Authorities have reminded the public to exercise extreme caution with unsolicited investment advice and online relationships.

 

Key Takeaways

Be wary of unsolicited contact on social media offering investment tips.

 

Never share sensitive personal or financial information with strangers.

 

Do not fall for “recovery agents” promising to get your lost funds back for a fee.

 

Always verify credentials through official channels.

 

 

Stay vigilant and report suspicious activity to local cybercrime units.