A Mumbra-based insurance consultant fell victim to a sophisticated cryptocurrency investment scam, losing over ₹71 lakh to cyber fraudsters promising high returns.
Key Points
- An insurance consultant from Mumbra was allegedly cheated of over ₹71 lakh in a cryptocurrency investment scam.
- The victim was lured into investing in a firm purportedly associated with a cryptocurrency platform.
- The fraud occurred between August 2025 and March 2026, with the victim transferring funds through cash and online transactions.
- A case has been registered against six individuals for cheating and breach of trust, but no arrests have been made yet.
- Police are investigating the misappropriation of funds and the involvement of the cryptocurrency platform.
A 42-year-old insurance consultant from Mumbra in Thane district of Maharashtra was allegedly cheated of more than Rs 71 lakh by cyber fraudsters who lured him into investing in cryptocurrency trading, police said on Tuesday.
A case was registered against six persons at Mumbra police station under relevant sections of the Bharatiya Nyay Sanhita on charges of cheating and breach of trust. Nobody has been arrested to date.
Details of the Cryptocurrency Investment Scam
The complainant, a resident of Kausa in Mumbra, alleged that the accused induced him to invest money in a firm, purportedly associated with a cryptocurrency platform, between August 2025 and March 2026.
He transferred Rs 71,60,015 through cash and online transactions at different times. However, the accused failed to return the invested amount and instead misappropriated the funds, a police official said.
