Pune IT Professional Defrauded of Rs 69 Lakh in Elaborate Cryptocurrency Scam
A 48-year-old software engineer residing in Lohegaon, Pune, has filed a formal complaint with the Pune cyber police, reporting a massive financial loss of Rs 69 lakh to online fraudsters. The scammers allegedly lured him with promises of exceptionally high returns on cryptocurrency investments, exploiting his trust over several months.
Chronology of the Fraudulent Scheme
The victim, employed with a well-known company in Hadapsar, detailed that the fraudulent activity spanned from May to November 2025. After submitting an initial complaint application, which underwent thorough verification, the Pune cyber police officially registered a First Information Report (FIR) on Sunday, marking a critical step in the investigation.
According to police officials, the entire ordeal began when the techie received an unsolicited message from an unknown mobile number. This message contained a suspicious link. "He opened the message and clicked on the link, which initiated contact from the fraudsters. They then introduced him to the world of cryptocurrency trading," stated an officer from the cyber police unit.
Deceptive Investment Platform and Escalating Demands
The suspects instructed the victim to download a specific cryptocurrency trading application, which he complied with. He commenced investing in various digital currencies through this platform but consistently failed to generate any profits. Subsequently, the fraudsters manipulated him into investing in more expensive and supposedly prominent cryptocurrencies, offering false assurances of expert guidance to ensure profitable trades.
Persuaded by these promises, the victim was provided with details for three distinct bank accounts. "He transferred money to these accounts on multiple occasions, often under the pretext that the value of certain cryptocurrencies had plummeted, necessitating additional funds to recover losses. Cumulatively, he transferred a staggering sum of Rs 69 lakh," the investigating officer elaborated.
The Final Deception and Realization
In a cruel twist, the trading application later displayed a fabricated profit exceeding Rs 80 lakh. However, when the victim attempted to liquidate his holdings and withdraw the apparent gains, the suspects actively blocked all withdrawal attempts. It was at this juncture that he fully comprehended the extent of the deception and realized he had been systematically cheated.
This case underscores the sophisticated methods employed by cybercriminals targeting individuals with promises of quick wealth in the volatile cryptocurrency market. The Pune cyber police are actively investigating the matter, tracing the digital footprints and financial transactions to identify the perpetrators.
