Senior citizen loses Rs 65.95 lakh to crytocurrency fraud in Thane

THANE: (Jul 24) A 64-year-old man from Maharashtra’s Thane city was allegedly duped of Rs 65.95 lakh by cyber fraudsters who lured him into investing in cryptocurrency, police said on Friday.

Based on a complaint, the Kalwa police on Thursday registered a case under section 318(4) (cheating) of the Bharatiya Nyaya Sanhita (BNS) and provisions of the Information Technology Act against operators of two mobile phone applications and two others, an official said.

According to police, the fraud took place between January 9 and July 17 when the victim was initially lured into investing Rs 95,000 through the mobile phone applications with promises of high returns. However, when he tried to withdraw his principal amount and earnings, the application interface blocked his transactions.