Indian Businessman Loses $221K in Crypto Scam 🚨

A 48-year-old businessman from Ahmedabad lost Rs. 1.92 crore ($221K) in a crypto scam after being tricked by a fraudster on Facebook.

How it happened:

He accepted a friend request from a woman claiming to be in the gym equipment business. She introduced him to a “lucrative” crypto platform on WhatsApp. After an initial $500 investment with a $250 profit, he invested Rs. 6 crore ($692K). When attempting to withdraw, he was asked to pay a 20% tax upfront, a clear red flag. The scammer disappeared, and the platform was fake.

Authorities’ Response:

A case has been filed, and officials warn against unverified crypto schemes, advising to use trusted platforms.