Kuldeep Patel, a resident of Ahmedabad, has fallen victim to a cryptocurrency scam after trusting a woman he met on a matrimonial site. Patel lost a substantial amount, totaling over Rs 1 crore, in an elaborate scheme orchestrated by a woman named Aditi. The incident took place on August 31, 2023, when Patel realized he had been duped and subsequently sought the assistance of cybercrime police.
In June 2023, Patel, an engineer by profession, crossed paths with Aditi through a popular matrimonial website. Aditi, who claimed to be engaged in the export and import business in the UK, skillfully convinced Patel to invest in a cryptocurrency scheme known as “bitcoin.” She lured Patel into believing that the digital currency, despite its intrinsic volatility, could yield significant profits.
Initial interactions with Aditi led Patel to invest Rs 1 lakh, resulting in a modest profit of 78 USDT (Tether, a dollar-pegged cryptocurrency). Because of these initial small profits and his trust in Aditi, Patel proceeded to make further investments. Between July 20, 2023, and August 31, 2023, he invested approximately Rs 1.34 crore across eight different transactions.
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However, on September 3, 2023, Patel attempted to withdraw Rs 2.56 lakh from his cryptocurrency investments, only to discover that his account had been frozen. Alarmed, Patel reached out to the customer support team with whom he had previously interacted. Shockingly, he was informed that in order to unlock his frozen account, he needed to deposit an additional Rs 35 lakh.
Patel’s attempts to contact Aditi failed, leading him to realize he had fallen victim to a cryptocurrency scam. He reported the incident to cybercrime police, who are now investigating.
Subsequently, Patel decided to report the incident to the cybercrime police, seeking justice against the woman and the firm responsible for orchestrating the elaborate scam. Law enforcement agencies are actively investigating the case, and individuals are urged to exercise caution and conduct thorough due diligence before engaging in financial transactions with individuals met through online platforms.
Related Article: US Department of Justice strengthens Crypto crime team
In a recent report by Todayq News on September 1, 2023, cybercriminals in the realm of cryptocurrency stole $45 million in digital assets, contributing to a total annual loss of nearly $1 billion, as reported by CertiK, a blockchain security firm.
In August alone, $26 million was lost to exit scams, $6.4 million to flash loan attacks, and $13.5 million to exploits. Considering all these activities, Australian crypto exchange Swyftx has taken an excellent step to safeguard innocent investors who are new to the crypto industry by introducing a “Learn & Earn” program.