Navi Mumbai man loses over Rs 10 lakh in crypto scam

Thane: A 37-year-old man from Navi Mumbai allegedly lost more than Rs 10 lakh after fraudsters persuaded him to invest in cryptocurrency promising high returns, an official said on Friday.

In his complaint, the man said some individuals contacted him over the phone and Telegram app between February 9 and February 11, claiming he would get lucrative returns if he invested in cryptocurrencies like bitcoins and other digital assets.

He then transferred Rs 10.61 lakh into various accounts as advised by the scammers.

The man approached the police when he did not receive any money in return despite attempts to contact the accused.

The Uran police on Thursday registered a case of cheating under the Indian Penal Code, and the Information Technology Act, said the station house officer.