Mumbai man duped of ₹1.57 crore in cryptocurrency mining fraud | Mumbai information

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Mumbai: A 36-year-old Malabar Hill resident has been duped of 1.57 crore in fraudulent cryptocurrency funding. The accused used a faux web site to entice him within the funding scheme. Malabar Hill police have registered a case.

In October 2021, the complainant, a resident of Nepean Sea Street, Malabar Hill befriended the accused over the web. After a number of days, the accused began messaging him about crypto mining.

“The accused knowledgeable the complainant that he could make enormous cash by investing in equipment for mining of cryptocurrency by the web site ‘USD Miner.’” 

The accused additionally knowledgeable him about a number of schemes to avail the revenue. The complainant appreciated the scheme and determined to take a position cash. Since October 2021 the complainant invested 2.83 lakh Australian {dollars} (equal to 1.53 crore),” mentioned a police officer.

The complainant saved on investing increasingly cash on the directions of the accused individual as he was seeing revenue being credited to his digital pockets. However every time he tried to withdraw from the pockets, the accused would discourage him from doing so, as a way to be certain that the fraud lasted longer, the officer added.

Early this month, the complainant suspected some foul play, because the accused was repeatedly attempting to dissuade him from withdrawing cash. Smelling a rat, the complainant requested the accused for a full refund of his cash however thereafter discovered that the accused had switched off his telephone.

The complainant then made an inquiry in regards to the web site and found that it was a faux one. He then approached the police and lodged a grievance. Performing on his grievance, we have now registered an FIR on Thursday in opposition to an unidentified individual underneath related sections of IPC and IT Act, mentioned inspector Mangesh Mohod of Malabar hill police station.

Police have written to the service supplier and anxious financial institution, searching for extra particulars of the bogus web site and the beneficiary financial institution accounts wherein fraudulently obtained cash was transferred.


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