A man from Mumbai was allegedly duped of Rs. 1.57 crore in a cryptocurrency investment fraud. The 36-year-old, a resident of Mumbai’s upscale Malabar Hill area, has now charged a website of trapping him into investment in cryptocurrency mining schemes. 

As per reports, the complainant virtually became friends with the accused in October 2021. The accused advised the complainant that if he invested in cryptocurrency mining hardware through a website, he could generate an incredible return. 

The accused also shared several strategies he might utilize to make money with him. As a result, the complainant became interested in the approach and chose to invest. As per media reports, since October 2021, the complainant invested 2.83 lakh Australian dollars (equivalent to Rs1.53 crore).

However, whenever the complainant endeavored to withdraw the investment amount, the accused would discourage him. This made the complainant suspicious. Sensing something was fishy, the complainant sought a full refund of his investment from the accused. But soon, to his horror, he found that the accused had turned off his phone and was unreachable. In addition, the complainant also found out that the website was fake, after which he decided to lodge a police complaint.