Thane: 57-Year-Old Man Loses Rs 1.12 Crore to Bitcoin Trading Cyber Fraud

A 57-year-old man from Thane fell victim to cyber fraud after losing Rs 1.12 crore. Police reported that the fraudsters contacted him through a Facebook link between April and June, persuading him to invest in Bitcoin trading with promises of substantial returns. Unfortunately, the victim ended up transferring Rs 1,12,62,871 to the fraudsters, believing in their deceptive scheme.

Police have booked the administrator of a WhatsApp group and others including holders of bank accounts where the money was diverted. “The complainant approached the police after he failed to get any returns on his investment and the accused started ignoring his calls,” the official said.

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A case has been filed under pertinent sections of the Indian Penal Code and the Information Technology Act. As of now, no arrests have been made in connection with the incident.