Gwalior CA Loses Over Rs 21 Crore in Major Crypto Investment Scam
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A 70-year-old chartered accountant in Gwalior lost Rs 21.05 crore over seven months after being lured into a fake crypto trading portal that initially paid out Rs 1.88 lakh to build trust. Fraudsters then demanded Rs 10.34 crore in alleged taxes and fees before payouts, and the victim has reported the scam to the state cyber cell, highlighting security and fraud risks for crypto investors in USDT and Bitcoin markets.
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- The victim invested Rs 21.05 crore over seven months in a fake crypto portal.
- Initial withdrawal of Rs 1.88 lakh gained trust and encouraged further investments.
- Fraudsters demanded an additional Rs 10.34 crore in taxes and fees before payouts.
A 70-year-old chartered accountant from Gwalior has reportedly fallen victim to cyber fraud. Over seven months, cybercriminals allegedly lured him into investing in a fake cryptocurrency trading platform, leading to losses exceeding Rs 21 crore.
Even so, the victim approached the state cyber cell after realizing the portal was fraudulent, prompting authorities to launch an extensive investigation.
Fraud Scheme and Initial Trust
According to the complaint filed by Ashok Vijayvargiya, the scam began when a woman contacted him on WhatsApp. She persuaded him to invest in USDT and Bitcoin through a platform that appeared …
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