The stream of crypto scam is increasing day by day. According to reports, a software engineer from Balangir district of Odisha has lost over 13.37 lakhs worth money to cyber criminals.
According to the engineer, the cyber criminals had promised him returns on his crypto investments. Hence, the engineer started investing in Bitcoin.
Balangir Police Department Is Probing Crypto Scam
Accordingly, the Cuttack Police have started investigating the case. The cyber crime police department has said that the victim, Ritesh Agarwal, invested over 13.37 lakhs in a crypto scam. The victim is a 38 year old software engineer from Titlagarh.
Moreover, the Police have detailed the chain of events that took place in the scam. In July 2021, a person named Diana added Agarwal to a WhatsApp Group. As per details, the group was named BTC Highway To Wealth26.
In the group, Diana convinced Agarwal to invest in Bitcoin and told him to open a crypto wallet with Binance. Evidently, Agarwal opened and completed the registration process on Binance.
On July 25th 2021, Agarwal initiated his first investment. Moreover, he shelled a sum of INR 38, 530. Furthermore, with the money, he bought 500 Tether cryptocurrency tokens.
Additionally, Diana insisted the victim open an account with the platform www.coinfu.2020.com. Moreover, she told him to switch the Bitcoins to the Coinfu wallet in order to get more returns. Accordingly, Agarwal transferred his tokens and got hefty returns to the Coinfu wallet.
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Trapping Victim With Different Schemes
After Diana gained Agarwal’s trust, she encouraged him to invest in other schemes as well. As his previous investment was successful, Agarwal went ahead with her recommendations and started making investments in different schemes.
As per reports, by the end of August 2021, Agarwal had invested a total of 13.37 lakhs. Moreover, Diana then told him to invest an additional 22 lakhs. Soon,he started becoming suspicious of her. To safeguard his funds, Agarwal tried to withdraw all his investments from e-wallets. However, he was unable to do so and realized that he got scammed. Currently, the Cuttack Police is looking into the matter.
Additionally, crypto scams have been on the rise for quite some time. Hence, investors should be careful while venturing into the crypto world. Accordingly, some tips for investors include not taking investment advice from someone they met online and not disclosing their bank account details to anyone.
Moreover, if a platform is promoting too-good- to-be true schemes, then investors should be extremely careful. Finally, individuals should be careful of those who claim to provide exclusive investment opportunities.
