Air Force Veteran Defrauded of Rs 22.75 Lakh in Elaborate Cryptocurrency Scam
In a distressing case of cyber fraud, an Air Force veteran from Lucknow has reportedly been swindled out of more than Rs 22.75 lakh through a sophisticated cryptocurrency investment scam. The victim, whose identity has not been disclosed, fell victim to an online scheme that lured him with promises of substantial returns and lucrative bonus incentives on digital currency investments.
Details of the Fraudulent Transactions
The complainant has provided a detailed account of multiple unauthorized debits from his savings bank accounts, which occurred over a one-week period from January 11 to January 17, 2026. According to the report, the fraudulent transactions included:
- Rs 7.5 lakh withdrawn from his account on January 13.
- Rs 5 lakh and Rs 2.74 lakh debited from his account on January 17.
- Rs 95,200 from his account on January 12.
- Rs 50,000 from another transaction on January 12.
- Rs 65,000 from his account on January 11.
These transactions cumulatively amounted to the staggering sum of Rs 22,75,450, highlighting the scale of the financial deception.
Modus Operandi of the Scammers
The scam began when the victim was initially contacted through a WhatsApp number. He was then introduced to an individual named Harwinder Sandhu on the Telegram messaging platform. Sandhu allegedly convinced the veteran to invest in a so-called "bonus plan" for cryptocurrency, which promised exceptionally high returns.
The accused reportedly assured investors of a 50% bonus on investments in various cryptocurrency coins, using fabricated screenshots of returns to build trust and credibility. This tactic is common in such frauds, where scammers create an illusion of legitimacy to entice victims into parting with their money.
Escalation of the Fraud
Once the total investment, including the promised bonuses, reached Rs 22,25,450, the scammers allegedly froze the victim's digital wallet. They then demanded an additional Rs 7,74,550 as a "release charge" to unlock the funds, further exacerbating the financial loss. This move is a classic example of how fraudsters escalate their schemes to extract more money from their targets, often leaving victims in a deeper financial crisis.
This case underscores the growing threat of cryptocurrency-related cyber fraud in India, particularly targeting individuals with promises of quick wealth. Authorities are likely investigating the matter, and it serves as a stark reminder for the public to exercise extreme caution when engaging in online investment opportunities, especially those involving digital currencies.
