Crypto Fraud has become a problem in recent years, causing pain and loss to victims. A 60-year-old woman in Mumbai, India, was deceived from $29,243 by fraudster on matrimonial website.
The woman retired from a private company and joined a matrimonial site in early 2022. Also, she kept in touch with the fraudster, who claimed to be an engineer in the United States. Fraudsters have promised to marry victims preying on her vulnerability to achieve their goals.
Scammers Use Crypto Investments To Bait Victims
Indian Express reports that the 60-year-old victim has ‘known’ the fraudster since 2022. He is accused of luring the victim with the promise of a huge return to invest in a company dealing with cryptocurrency.
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They claim to make huge passive incomes and send contacts with investment guides they consider. The victim claimed to have contacted the guide between April and December 2022. He invested $29,243 and gained access to a virtual account in his name that showed an increase to $63,367 after some time.
However, when the victim tried to withdraw from the account, the guide demanded an additional $14,620. He claimed the charges were for income tax and conversion charges.
The victim realized the trick after his virtual account failed. In addition, both fraudsters refused to respond to calls or messages for several days after the withdrawal request. The victim lodged a formal complaint with the North zone cyber cell unit of the Mumbai police.
The police have listed these entries under relevant sections which include fraud, criminal conspiracy, and forgery.
Other Crypto-Related Events
Unfortunately, a the same event happened in Mumbai last month. According to the report, a 49-year-old woman living in Mumbai lost $12,183 due to fraud from her home. The victim saw an ad for work from home jobs on Facebook. After he expressed his interest, he received a call from the syndicate
A Hindustan Times report revealed that the fraudsters directed the women to complete some tasks in Telegram groups. The caller explained that he could earn money by liking YouTube videos and sharing pictures. The woman receives $2 for the completed task.
After that happened, he liked another video from the same source. However, he did not receive payment. The victim contacted the caller to solve the problem when he asked him to complete some tasks and invest in Bitcoin to earn money.
He completes all the tasks and invests in Bitcoin, happy to see his earnings deposited in his virtual account. However, she was unable to withdraw the $24,370 shown in her account and was asked to complete the task and deposit $9,748. The victim later realized he was a fraud after losing $12,185. He later filed a formal complaint.
with crypto related scams on the rise, all investors need proper research to ensure the risk involved. More importantly, look for a registered company that complies with local crypto regulations. It is wise not to invest in assets with vague promises of return.
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