Thane Man Accused of ₹1.61 Crore Crypto Scam Targeting Seven Investors
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Thane police booked a 44-year-old man for allegedly defrauding seven investors of Rs 1.61 crore by promising high crypto returns between December 2023 and June 2025, with a complaint filed on May 25. Authorities traced deposits routed to a woman's bank account, highlighting crypto fraud and security risks and underscoring the need for stronger investor protection across DeFi and centralized platforms.
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- Thane police booked a 44-year-old man over an alleged Rs 1.61 crore crypto fraud.
- Seven investors were scammed with promises of high crypto returns between Dec. 2023 and Jun. 2025.
- The accused routed deposits to a woman’s bank account as police traced the money.
A 44-year-old man from Thane city has been booked for allegedly cheating seven people of Rs 1.61 crore after promising high returns through cryptocurrency investments, police said on Friday, according to PTI.
The case was registered by Kasarwadavali police after a complaint was filed on May 25. Police said the alleged fraud took place over an extended period between December 2023 and June 2025.
According to the complaint, a 45-year-old man alleged that the accused convinced him and six others to invest in cryptocurrency by promising lucrative returns. The accused allegedly collected Rs 1.61 crore from …
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