Indian police have apprehended a man for his role in a cryptocurrency investment scam amounting to ₹1.5 crores. Details of the incident are under investigation.
Charges and Arrest
A Kolkata resident, 26-year-old Harshik Mukeshbhai Patel, was arrested in the Chandkheda area of Gujarat for involvement in a crypto investment scam. According to Bidhannagar police, the arrest was made following a court order, and the suspect has been transported to Kolkata for further investigation.
Fraud Scheme
According to the complaint filed by the victim, 34-year-old Aurobinda Maji, fraudsters operated a fake cryptocurrency investment platform promising enormous returns. The platform provided users with wallets to deposit funds with the promise of rapid investment growth. The scammers advised traders to diversify their investments, increasing their ties to the criminal group.
Investigation and Consequences
Police tracked a portion of the stolen amount, approximately ₹2 lakh ($2,400), that was transferred to Patel's IDFC First Bank account. Reports indicate the money was withdrawn via ATM shortly after deposit. Authorities seized items linked to financial transactions and are continuing their investigation to uncover more accomplices.
Fraud in the digital asset space continues to rise in India, and this investigation may uncover a broader network of criminals.
