A 34-year-old man from Vadodara, Gujarat, has reportedly fallen victim to a cryptocurrency investment scam, losing Rs 92.48 lakh. The individual, identified as Jasmin, was lured into the scheme after establishing a friendship with a woman named Aditi Mishra on Facebook. The promise of significant returns, allegedly up to 60 per cent, was a key factor in his decision to invest.

In January, Jasmin accepted a friend request from Mishra, which led to conversations that quickly transitioned to WhatsApp. During these discussions, she convinced him to invest in cryptocurrency by showcasing purported profits and introducing him to a man named Nitish Kumar, who she claimed was her uncle and also involved in the investment opportunity.

Investment Process and Initial Returns

Mishra directed Jasmin to a cryptocurrency trading website, globixvault.com. He began by investing Rs 10,000, which the website indicated had generated profits. Encouraged by these initial results, Jasmin was persuaded to invest further amounts. The fraudsters allegedly continued to press him for more investments, assuring him of returns between 50 and 60 per cent.

To bolster his confidence, they transferred 717.29 USDT, valued at approximately Rs 71,729, to his Binance wallet. This action further convinced Jasmin that his investments were yielding returns, leading him to transfer a total of Rs 94,27,614 across various UPI IDs and bank accounts in multiple transactions.

Despite the substantial amount invested, Jasmin received only a fraction of his money back. He managed to retrieve 717.29 USDT and Rs 1,07,606 through the MRM portal, leaving him with a staggering loss of Rs 92,48,279. This prompted him to suspect that he had been scammed.

Police Investigation Initiated

Upon realising he had been deceived, Jasmin approached the cybercrime police to report the incident. Following his complaint, the authorities have initiated an investigation into the alleged fraud. The police are currently scrutinising financial transactions, WhatsApp conversations, and bank statements to trace the flow of money involved in the case.

This incident underscores the tactics employed by fraudsters, who often exploit social media connections and the allure of high returns to gain the trust of potential victims. The investigation aims to uncover the full extent of the fraudulent activities and identify those responsible for the scam.

The case serves as a cautionary tale for individuals engaging in online investments, highlighting the importance of due diligence and scepticism when approached with offers that seem too good to be true.

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