Crypto Quill

A 46-year-old businessman from Mumbai has fallen victim to a ₹2.14 crore investment fraud orchestrated through dating apps. The businessman was convinced by two women he met on these platforms to invest in cryptocurrency and foreign exchange. Despite making substantial deposits, he was unable to withdraw his funds. The businessman has lodged an FIR with the Central cyber police station at Worli, highlighting the growing menace of online investment scams.

The Lure of High Returns

The businessman first encountered Carmen Anita on a dating app. She suggested he invest in cryptocurrency trading, promising high returns. Trusting her, he created a trading account and began depositing money. The initial investments seemed promising as he saw his balance grow. However, when he attempted to withdraw his funds, he was met with demands for additional deposits under the guise of taxes and fees.

In mid-April, the businessman met Sharika Singh on another dating app. She convinced him to invest in foreign exchange, again promising lucrative returns. Following her advice, he created a forex trading account and continued to deposit money. Similar to his experience with cryptocurrency, he was unable to withdraw his funds and was asked to pay more money for various fees.

The Unraveling of the Scam

As the businessman continued to deposit money, he began to realize that he was being scammed. Despite making multiple transactions, he was unable to access his funds. The scammers used sophisticated tactics to gain his trust, including fake customer support interactions and convincing web interfaces. The businessman eventually contacted the cyber police, who confirmed that he had been duped.

The FIR states that the businessman made 12 transactions totaling over ₹1 crore for cryptocurrency trading and nearly ₹1.14 crore for forex investments. The scammers had created a complex web of deceit, making it difficult for the victim to realize the fraud until it was too late.

The Growing Menace of Online Scams

This incident highlights the increasing prevalence of online investment scams, particularly those targeting individuals through dating apps. Scammers exploit the trust and emotional vulnerability of their victims, luring them with promises of high returns. The anonymity and reach of the internet make it easier for fraudsters to operate and target unsuspecting individuals.

Authorities are urging people to be cautious when approached with investment opportunities online. It is essential to verify the legitimacy of the investment platform and the individuals involved. The cyber police are actively investigating such cases and working to bring the perpetrators to justice.