Cyber Police Book Four in Bitcoin Investment Scam, Businessman Duped of ₹27 Lakh

A businessman from Ghatkopar has been duped of around ₹27.5 lakh by a four-member gang who lured him with promises of high returns through Bitcoin investment. The Central Regional Cyber Police has registered a case against four accused, including a woman, in connection with the cyber fraud.

According to the investigation, one of the accused women befriended the complainant businessman online and then convinced him to invest in Bitcoin. Trusting her words, the businessman fell prey to the scam.

The complainant, who runs a wholesale trading business of building materials, resides with his family in the Ghatkopar area. He had an account on Telegram, which he occasionally checked. In July 2025, he received a message from a woman named Aishwarya, who asked him for his WhatsApp number. After he shared his contact details, the two began chatting regularly and soon became good friends.

During their conversations, Aishwarya told him about Bitcoin investment and claimed that it could yield good profits in the near future. Convinced by her, the businessman agreed to invest. She then sent him a link to a website and asked him to create an account by uploading his personal and bank details.

Following her instructions, he registered on the platform. A fake “customer care” representative from the same page provided him with supposed information about Bitcoin trading and encouraged him to invest further. Between July and October 2025, the businessman transferred a total of ₹27.5 lakh from his own and his employees’ bank accounts to purchase Bitcoins through the website.

Initially, the website showed positive returns on his investments, and he was even able to withdraw ₹20,000 as “profit.” However, when he later tried to withdraw the remaining amount, he was unable to do so. Despite several attempts, the funds could not be transferred back to his bank account.

When he contacted Aishwarya and the so-called customer care executives, they claimed that his “trading account” had been frozen and that he would need to buy more Bitcoins to reactivate it. Sensing something suspicious, he refused to make further payments — after which the accused stopped responding to his messages.

Realizing he had been cheated, the businessman lodged a complaint with the Cyber Helpline and the Central Regional Cyber Police. Following the complaint, the police registered a case under sections of cheating and the Information Technology Act against Aishwarya and three others.

Cyber Cell officers have initiated a detailed investigation into the fraud and are tracing the digital footprints of the accused.