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PUNE: A Sahakarnagar auditor (68) fell victim to fraudsters posing as Bitcoin traders between 2021 and 2022, resulting in a loss of Rs 24.8 lakh. The incident occurred after the victim befriended one of the fraudsters on social media and was lured by the promise of good returns.

The victim took the necessary steps to report the incident, filing a complaint application with the cybercrime police. Following due verification of the complaint, it was converted into a First Information Report (FIR) on Thursday.

According to Inspector Sandeep Deshmukh, the victim, an auditor residing in Sahakarnagar, received a friend request from an unknown person on social media, which he accepted. Subsequently, they began conversing on the platform. During one of their conversations, the fraudster convinced the victim to invest in digital currency, specifically Bitcoin trading in India, and introduced him to his alleged accomplice.

In his complaint, the auditor mentioned that the fraudsters shared videos showcasing successful Bitcoin trading and lucrative returns on investments. To gain the victim’s trust, one of the fraudsters claimed to be based in India and even shared his Aadhaar and PAN cards, along with photos.

Initially, the victim invested Rs 25,000 in digital currency trading. However, he continued transferring money to e-wallets and bank accounts provided by the fraudsters, in hopes of receiving substantial returns. The fraudsters would send him receipts via email, detailing the invested money, but failed to transfer any commission to his bank account. Over a period of six months, between September 2021 and February 2022, the victim transferred a total of Rs 24.8 lakh to the fraudsters’ multiple bank accounts and e-wallet.

Eventually, the victim not only failed to make any profit but also lost all the money he had invested as the fraudsters ceased all communication. Unable to recover his funds, the victim filed a complaint under the Indian Penal Code and Information Technology Act for cheating.

As part of the ongoing investigation, the cyber police have approached social media platforms, e-wallets, and relevant banks to obtain detailed information about the financial transactions, thus attempting to trace the money trail.

In light of this unfortunate incident, the police authorities have once again urged investors to exercise caution and use trusted platforms when engaging in cryptocurrency investments.

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