Retired Professor Swindled Out of ₹1.93 Crore in Cryptocurrency Scam

In a shocking turn of events, a retired professor from Mumbai has lost a whopping ₹1.93 crore to a cryptocurrency scam. What started as a friendly connection on Facebook ended in a web of deceit and manipulation.

Connection Turns Into a Coordinated Scam

The Start of a Fraudulent Friendship In Mumbai, a retired professor has been swindled out of a staggering ₹1.93 crore, all thanks to a crypto scam that began with a Facebook friend request. The professor, aged 62, from Khar, thought he was building a friendship with a woman named Ayesha. She presented herself as a reliable contact, working at a company called Global Art, located in Gurugram. Trust was rapidly established through their friendly chats on WhatsApp, leading him straight into a trap.

The Vanishing Act of the Fraudster

Deceptive Investments and Trust Lost Ayesha’s pitch focused on cryptocurrency investments. She dazzled the professor with what looked like legitimate tips on Bitcoin—a major red flag that went unnoticed. Encouraged by the prospect of easy profits, the professor readily shared personal details like his Aadhaar card and email ID. She then guided him through opening a Binance account and urged him to transfer large sums of money into various bank accounts, convinced of the lucrative opportunities ahead. It all seemed promising until Ayesha vanished after receiving the funds.

A Desperate Chase for Lost Funds

The False Hope of Recovery Things took another bizarre turn when a woman named Koyal reached out to the professor, offering to assist him in recovering the lost money. Her approach appeared to offer a glimmer of hope amidst his growing despair. However, this too was part of the elaborate scam, as Koyal had connections to the original fraud network. A call from a supposed financial advisor named Prashant Patil further complicated matters, leading the professor to believe he was close to receiving a refund; but only if he paid an upfront fee of ₹42,735. This set off a chain of payments under various pretexts, targeting his desperation.

The Moment of Realisation

Accumulating Losses and Realisation of Fraud Tragically, the professor ended up transferring a total of ₹1.93 crore without ever seeing a return on his investments. As months went by without any sign of his funds, he finally realised he had been the victim of an elaborate scam. His attempts to reach Ayesha and her accomplices met with silence. The accumulation of his losses eventually led him to report the situation, opting to seek justice through legal channels once he understood the magnitude of the deception he had suffered.

Life Lessons from an Unfortunate Incident

Legal Actions Taken Against the Culprits The West Region Cyber Police have stepped in to take on the case, registering an FIR against unidentified cyber fraudsters. They charged offences under various sections of the Information Technology Act—specifically, sections addressing identity theft, computer resource cheating, and other related crimes. Investigations are currently underway aimed at tracking down those responsible for this fraudulent operation. This alarming incident highlights the ever-growing threat that cyber scams pose, making it crucial for individuals to be vigilant and cautious about online interactions.

The case of the retired professor serves as a stark reminder of the dangers lurking in online platforms, particularly in investment schemes promising high returns. What began as a friendly chat turned into a life-altering fraud that cost nearly ₹2 crore. Authorities are now fighting back against the cyber fraud epidemic, highlighting the need for awareness and education around online scams.