Fake Job Offer Turns Costly: Bengaluru Techie Loses Rs 43 Lakh In Crypto Scam

Crypto scams linked to fake investment schemes and part-time job offers continue to rise across India, with many cases involving fake cryptocurrency platforms. In one such case, a Bengaluru-based software engineer allegedly fell victim to an online crypto fraud.

A 36-year-old software engineer from Bengaluru’s Thanisandra area reportedly lost Rs 43.48 lakh in an online cryptocurrency scam. The victim reportedly received a WhatsApp message from an unknown number offering a part-time earning opportunity that involved rating products on Amazon.

The victim initially started completing small online product-rating tasks shared by the scammers, which took minimal time. He reportedly received small payments initially, which built trust, as per the report.

After a few days, he was added to a Telegram group where the scammers claimed to be associated with Coinbase, a cryptocurrency exchange. To appear legitimate, they shared fake registration details, including a Corporate Identification Number (CIN), PAN information, and an email address.

Believing the opportunity was genuine, he went on to transfer Rs 43,43,248 between February 17 and April 26 to multiple bank accounts shared by the scammers, according to Deccan Herald. When he later tried to withdraw the funds, he was told that RBI-related documentation was required, after which all communication stopped.

He subsequently approached the police, and the Northeast Cybercrime Police registered a case.

When the victim attempted to withdraw the money, the scammers told him that Reserve Bank of India (RBI) documentation was required. Shortly after, all communication with him was cut off.

A police official noted that such cases have been increasing in recent months and that many victims, especially those from technical backgrounds, are falling prey to cryptocurrency-related scams. The official advised people to verify the authenticity of investment platforms before transferring money, adding that legitimate exchanges do not provide investment tips or trading instructions through Telegram or other social media platforms.

In case of suspected fraud, users should contact their bank and report the matter to cybercrime authorities without delay. Victims can report such incidents by calling the cybercrime helpline 1930 or through the national cybercrime reporting portal.