Naive trust in a long-distance "relationship" and the promise of high crypto profits cost one Indian man over $200,000. Instead of love and wealth, he ended up with heartbreak — and an empty bank account.


🔹 Romance as a Pretext for Fraud

A man named Ramesh, who runs a construction business, connected with a woman on a matrimonial website. She introduced herself as Priyanka, and soon, their conversation moved to WhatsApp. From April 11, they were in daily contact, and the woman came across as warm and genuine.


🔹 Fake Job and Tempting Investment

The woman claimed to work for a reputable trading firm in Singapore focused on cryptocurrency trading. She quickly convinced Ramesh to invest through a so-called professional app, promising high returns and quick profits.

And at first, it worked — his initial investment of 50,000 rupees (around $583) appeared to earn an 8,300 rupee profit (about $100) in the app. Encouraged by the "profit," Ramesh continued to send large sums — totaling 1.67 million rupees (about $200,000) — through bank transfers and India’s UPI payment system.


🔹 Blocked Wallet and Further Extortion

When he tried to withdraw his earnings, the app blocked access to his wallet, claiming he had to pay a “release fee” first. The scammer demanded an additional 2.5 million rupees (roughly $29,000) to unlock the funds. When Ramesh refused, Priyanka blocked him and deactivated her number.


🔹 Police Launch Investigation

After realizing he had been scammed, Ramesh contacted Cyberabad cyber police. Authorities are treating the case as a serious cybercrime, with charges including fraud, extortion, forgery, and identity theft. Investigators are currently tracking several bank accounts and mobile numbers linked to the scam.


🔹 Public Warning Issued

Indian authorities have issued warnings about the rising number of romantic and investment scams spreading via social media and messaging apps. Cybercriminals are increasingly targeting unsuspecting individuals by combining emotional manipulation with fake investment platforms. The public is urged to stay vigilant and verify all investment offers and online contacts.

❗ Did you know? According to Indian cybercrime officials, romance-based crypto scams have risen by more than 120% in the past 12 months, with average losses per victim exceeding $80,000.


#crypto , #Cryptoscam , #cybercrime , #CryptoFraud , #CryptoNews

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