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Mumbai: Lured by high profits on cryptocurrency trading, banker loses Rs 1.50 lakh on Instagram

A banker was cheated of Rs 1.50 lakh by cyber crooks. The fraudsters promised him huge returns on investment in cryptocurrency on Instagram.

Mirror Now Digital

Updated Aug 20, 2022, 13:55 IST

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Mumbai: In yet another case of cyber forgery, a banker was cheated of Rs 1.50 lakh by cyber crooks. The fraudsters promised him huge returns on investment (ROI) in cryptocurrency on Instagram, mid-day reported. The victim has been identified as Raj Kudhle.

Kudhle, recently came across a story by a college friend on Instagram, claiming that instant profits were to be made by investing in cryptocurrency.

“I was then told to download the ‘Binance’ app from the Play Store. When I did, I was asked to purchase bitcoin worth Rs 50,000 via the app. I did this on August 7 and, as per the directions of the accused, transferred the bitcoin to the website,” said the bank official.

“On August 11, I received screenshots from the trader claiming I had earned Rs 8 lakh from trading,” he added.

According to police, when Kudhle asked how to transfer this amount into his bank account, he was asked to pay Rs 75,000 in order to upgrade his account. Later, Kudhle paid Rs 25,000 via UPI. But his ‘earnings’ were not credited to his account.

“Finally, I called my friend and asked whether she had really profited from investing in bitcoin, but I was shocked to learn that her Instagram account had been hacked in the past few days. Many people on her friend list had told her about seeing a story about crypto,” said Kudhle.

Later, Kudhle registered an offence against an unknown person under IPC sections 419 and 420 including IT Act 2000.

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