Using a fake social media profile of a British national based in Noida and a family business in Singapore, cybercriminals duped a Pune-based pharmacist of over Rs 9 lakh by tricking him into investing in cryptocurrency with promises of high returns.
Earlier this week, a 30-year-old pharmacist, a resident of Bhor take itregistered a complaint at Bhor police station under Pune rural police. A few days ago, he contacted a woman on Facebook, who identified herself as a British national based in Noida. When the complainant started chatting, the ‘woman’ shared her international WhatsApp number. After some time, he said he is going to Singapore where his family has a business.
Sometimes the woman would talk to the complainant on audio phones and often send her pictures. After a while, he told her that he found a great opportunity to invest in cryptocurrency that promises very high returns. Reluctant to invest, the complainant was persuaded and manipulated by the woman to send money by sharing screenshots of her earnings. He was made to register on a fake cryptocurrency exchange before being asked to send money.
The complainant was asked to send money to certain bank accounts and the fake exchange showed corresponding high salaries. The woman he was in contact with was giving him instructions for sending money. Against an investment of Rs 2.95 lakh, the fake application showed a return of Rs 22 lakh, police said.
‘50% Singapore government tax’
When the plaintiff wanted to withdraw this amount, he was asked to pay Rs 11 lakh as 50 percent tax to the Singapore government against his salary. When the complainant told the woman that she did not have that money, she told her to send more. He ended up sending Rs 6.27 lakh and again asked the help of women to get his salary. It was at this time when the woman calmed down, the complainant realized that she was engaged.
He went to the Pune rural police and an FIR was registered on Monday. An investigation was launched by Bhor police.
In a similar case reported last year, a software engineer based in the city connected with a woman named Elizabeth who claimed to be in the wine business and crypto currency trading. The victim, who had been investing in bitcoins for a long time, was offered crypto trading lessons for high profits.
In a span of 10 days from the start of their interaction, the victim ended up investing more than 40,600 Tether cryptocurrency (aka USDT) equivalent to Rs 33 lakh in the fake cryptocurrency exchange. While the exchange website kept showing a high return on each investment, when he tried to withdraw, it became clear that the exchange was not.
The dangers of crypto investment fraud have been flagged
Cyber ​​investigators in Pune and Pimpri Chinchwad have urged people not to fall prey to fake cryptocurrency investments where victims are often lured through deceptive social media ads, fake social media profiles, or call messenger groups.
Cyber ​​investigators have suggested that investors should only use trusted and known cryptocurrency exchanges and emphasize that investors do research on the names of these cryptocurrency exchanges and check that they use the same names as those of known platforms.
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