Ten People Charged for Scamming Elderly Investors of ₹16.48 Lakh in Cryptocurrency Fraud

Thane: Ten people have been booked by the police in a cryptocurrency fraud case for scamming a 71-year-old man and his friend of ₹16.48 lakh. Both victims live in the Chembur neighborhood of Mumbai. They were lured into the scam under the guarantee of receiving valuable returns by investing in cryptocurrency. The scammers operated from their offices in Mumbra and Dombivli areas of Maharashtra's Thane district. They pretended to be representatives of a cryptocurrency company.The scammers offered tempting returns to the elderly man and his friend to invest in bitcoins in March 2023. Over time, as the victims kept making deposits, their total investment reached approximately ₹16.48 Lakh, but the promised returns were never achieved, and the original investment vanished as well.Eventually, the two men approached the police. A case was registered on Wednesday against the 10 accused hailing from Diva and Dombivli in Thane, as well as from Uttar Pradesh. Authorities are making efforts to find the criminals and recover the money that the victims lost.