Cases of scams and fraudulent activities in India are on the rise. Every now and then, we hear stories of people being robbed of their hard-earned money. The best way to avoid falling prey to such scams is by not trusting strangers easily and performing a thorough background check about people you interact with online. And when it comes to investing money, one should be extremely cautious and not invest their hard-earned money just because somebody told them to do so or said that they would get high returns.
When you trust strangers with financial advice, it can often have pretty devastating results. Something similar happened with an Ahmedabad-based software engineer who met a woman through a matrimonial site and invested around Rs 1 crore in cryptocurrency upon her advice. The woman turned out to be a scammer and the techie lost all his money.
Software engineer loses over Rs 1 crore
A software engineer working with a firm at Gandhinagar approached the cybercrime police on Saturday, September 9, and revealed that he had lost over Rs 1 crore after falling prey to a cryptocurrency scam. As per a TOI report, the name of the victim is Kuldeep Patel and he, in the FIR, revealed that he met a woman named Aditi on a matrimonial site in June.
As per Patel, Aditi told him that she had an import and export business in the UK and asked him to invest in ‘banocoin’ in order to get good results. Believing in Aditi, Patel agreed and spoke to a ‘customer care representative of Banocoin’. He then got himself registered on their website and began investing money in hopes of getting good returns.
For the first 1 lakh he invested, his crypto account showed a profit of 78 USDT (US dollar tether). He then invested more amount and in total, Patel ended up investing Rs 1.34 spread across 18 transactions. All transactions were carried out between July 20 and August 31. On September 3, when Patel tried to withdraw Rs 2.59 lakh from his account, he was told that his account was frozen.
Patel then contacted the customer care representative that he had spoken to before. He was then told to invest an additional Rs 35 lakh in order to de-freeze his account. When Patel tried contacting Aditi, she didn’t respond. This is when he realised that he had been scammed.
How to stay safe
The best way to stay safe from such scams is not to trust any stranger with your hard-earned money. There are ample credible financial investors out there who are qualified to help you with your investments. Instead of believing strangers, it is best to approach professionals if you are unsure about what investments you should go ahead with.
Moreover, cases of scammers approaching people through dating and matrimonial apps are also rising these days. Hence, even if you want to trust someone you met on such an app, be sure to meet them a couple of times first and get to know them as much as possible before you fully trust them.