A 40-year-old artist from Ghatlodia has allegedly been duped of nearly Rs 27 lakh in an elaborate cyber fraud involving cryptocurrency trading, according to an FIR filed with the city cybercrime police on Monday.
Details of the Fraud
The victim stated in his complaint that he was lured into investing through social media platforms and subsequently cheated. According to the complaint, the victim came into contact with an unidentified woman through a social media platform in December 2025. The interaction soon shifted to a messaging app, where the woman allegedly introduced him to the concept of cryptocurrency trading, promising high returns.
The FIR stated that the accused shared a web link and persuaded the victim to register on a trading platform. Following instructions, the victim began transferring money from his bank accounts in multiple installments to different accounts provided by the woman. Another individual was later introduced as a 'guide' for the trading process, further convincing the victim to continue investing.
Modus Operandi
Initially, the victim invested a small amount and was even allowed to withdraw a modest profit, which helped the fraudsters gain his confidence. Over time, he was induced to deposit larger sums, ultimately transferring about Rs 27 lakh between January 6 and 25, 2026. Police said the victim was shown virtual profits on the fake platform. However, when he attempted to withdraw the funds, he was asked to pay additional charges.
Cybercrime police registered an offence of criminal conspiracy, cheating, and breach of trust. Investigations are ongoing to trace the accused and recover the money.
