SOBO RESIDENT LOSES ₹1.57 CR TO CRYPTO MINING FRAUD

MUMBAI: A 36-year-old Malabar Hill resident has been duped of ₹1.57 crore in fraudulent cryptocurrency investment scheme.

The accused used a fake website to trap the victim and asked him to continue investing so that he can get high returns. Malabar Hill police is probing the case.

In October 2021, the complainant, a resident of Nepean Sea Road, Malabar Hill befriended the accused on a social networking site.

After a few days, the accused started messaging him about crypto mining. The accused convinced the complainant that he can make huge money by investing in machinery for mining of cryptocurrency through the website called ‘USD Miner’.

The accused also informed him about multiple schemes to avail the profit.

The complainant liked the scheme and decided to invest money. Since October 2021, the complainant invested 2.83 lakh Australian dollars (equivalent to ₹1.53 crore),” said a police officer.

The complainant kept on investing money on the instructions of the accused as he would see profit being credited to his virtual wallet.

But whenever the victim tried to withdraw money from the wallet, the accused would discourage him from doing so. Cops said that he did this in order to ensure that the fraud lasted longer.

Early this month, the complainant suspected foul play, as the accused was repeatedly trying to dissuade him from withdrawing money.

Sensing something fishy, the complainant asked the accused for a full refund of his money but thereafter found that the accused had switched off his phone.

The complainant then made an inquiry about the website and discovered that it was fake. He then approached the cops. “Acting on his complaint, we have registered an FIR on Thursday against an unidentified person under relevant sections of IPC and IT Act,” said inspector Mangesh Mohod of Malabar hill police station.