The post Indian businessman loses $221k in crypto investment scam appeared on BitcoinEthereumNews.com.

An Indian businessman has lost Rs. 1.92 crore ($221k) in cryptocurrency after falling for an elaborate scam on Facebook. The 48-year-old businessman from Ahmedabad had a redefining moment in the digital era, learning his lesson the hard way. According to reports, the elaborate scam began like any other friendly interaction on the messaging app, with the perpetrator sending the Indian businessman a friend request and him approving it. Things soon moved quickly, with both parties sharing contacts before the victim was introduced to the crypto investment platform. According to authorities, it turned out that the investment opportunity turned out to be a scam. Indian businessman falls for elaborate crypto investment scam According to the complaint registered with the Cybercrime unit of the Police, the pair first met in August 2024 on Facebook. The Indian businessman received a friend request on Facebook from a beautiful woman. According to the complaint, the woman claimed to be involved in gym equipment businesses, offering services in Dubai and Mumbai. In their usual modus operandi, the scammer reached out to the man after seeing his profile. “Hey, your profile caught my eye while checking my friends’ suggestions, and thought I would reach out. Can we get to know each other?” the scammer asked. After he responded to their chats, they began to talk and soon moved things from Facebook to WhatsApp. After a while, she made her move, introducing him to a lucrative cryptocurrency investment opportunity. According to the chats, she mentioned that her uncle was a high-ranking officer at the American firm in charge of the platform and would help the Indian businessman out. The Indian businessman mentioned that he went online to research the company and discovered it was legitimate. He mentioned that he saw that they promised a high return on investment,…

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Filed under: News - @ February 23, 2025 9:07 am