Mumbai woman loses $30,000 in crypto scam to man she met on dating site: report – Crypto News Today

A 60-year-old Indian woman lost almost $30,000 in a crypto investment scam after being approached on the dating site where she had registered to look for a life partner.

The scammer told him that he was an engineer based in the United States and that he could earn him quick profits through bitcoin investments.

Investment in love gone wrong

According to the media reportsthe Mumbai woman, who is a retired private company executive, registered on a marriage website in early 2022. Soon, she was approached by someone on the site, and the two exchanged numbers phones and started calling and chatting regularly.

In March 2022, the man told her about a cryptocurrency investment opportunity and how he was allegedly earning huge passive income. He shared another person’s phone number and told her that he would guide her in making the investments.

Between April 2022 and December 2022, the woman invested almost $30,000 (INR 2.4 million) in cryptocurrencies via “the guide”. At one point, when she had $62,000 in her virtual account, she asked the “guide” to help her withdraw the money. They told her she would have to pay a currency conversion fee and taxes equivalent to $15,000 to withdraw the money.

While she was still thinking about what to do, she noticed that the duo had stopped communicating and her virtual account had become dysfunctional.

At this point, she approached the police and filed a complaint. According to the authorities, a case was registered under the relevant headings of cheating, forgery and criminal association.

Same city Other incident

In a similar fraud, another woman from Mumbai was duped out of nearly $12,500 (INR one million) while looking for a work from home opportunity and was asked by the scammers to invest in bitcoins. The 49-year-old victim realized she was cheated when she was asked to pay nearly $10,000 (INR 0.8 million) just to withdraw her money.

India has reported a number of crypto scams in the recent past. And in most of these cases, investors’ lack of knowledge about crypto investments has left them vulnerable to fraud.

More instances

At the beginning of this month CryptoPotato reported that an Indian student killed himself by hanging himself after losing $2,400 in investment to a fake bitcoin investment scheme. India has quite a large list of crypto scams under its belt.

Another recent example is the arrest of a defendant in a $160 million crypto scam.