**Nagpur Man Loses Over Rs 1.40 Crore in Cryptocurrency Investment Scam**
Mumbai: A 55-year-old resident of Nagpur fell victim to a cryptocurrency investment scam, losing more than Rs 1.40 crore, cyber police have confirmed.
According to officials, on July 25, the complainant came across an online advertisement promising high returns on crypto investments while browsing the internet. On clicking the link, he was redirected to a fake trading website where he registered and soon began communicating with a scammer posing as a trading expert.
Following the scammer’s instructions, the victim initially invested Rs 1 lakh. Shortly after, he received Rs 4.5 lakh credited to his bank account, which convinced him that the platform was legitimate.
Between July 11 and August 19, the man transferred a total of Rs 1.40 crore in multiple transactions to different bank accounts controlled by the fraudsters.
When he later attempted to withdraw his supposed profits, the scammers demanded additional money as ‘taxes.’ Realizing he had been duped, the man approached the police.
The cyber crime branch has registered a case of cheating and forgery under several sections of the Bharatiya Nyaya Sanhita and is investigating the matter.
https://www.freepressjournal.in/mumbai/nagpur-resident-loses-over-140-crore-in-sophisticated-cryptocurrency-scam-after-falling-for-fake-trading-website
