Crypto Fraud: Gurugam Employee Arrested For Allegedly Cheating People With Promise Of Fake Profit

The accused allegedly promised fake profit on crypto investments via a fake website.

Crypto scams have increased greatly in India of late.

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New Delhi: A 32-year-old e-commerce firm employee was arrested for allegedly cheating people by showing fake profit on a fake website, police said on Thursday. The accused has been identified as Sanjeev Kumar Singh, a resident of Gururgam in Haryana, originally from Samastipur, Bihar, they said. Singh is hearing and speech impaired by birth but can write and read English and Hindi, police said. According to the police, the complainant had been contacted by a woman who introduced herself as ‘Diana’ and convinced her to invest in Bitcoin through a website.

She contacted the complainant on social media and shared the link of an account for investment in cryptocurrency, a senior police officer said.

The accused then created an ID for the complainant and asked her to send Rs 10,000 for investing in Bitcoin and next day a "profit" of Rs 2,50,000 was shown on the website, the officer said.

When the complainant contacted Diana asking how she could withdraw the amount, she said she needed to pay a fee for that.

The accused then took Rs 1,30,000 from the complainant, but paid her no money and the website was disabled, police said.

During their investigation, police conducted raids in Udyog Vihar, Gururgam, and nabbed Singh, Deputy Commissioner of Police (Dwarka) M Harsha Vardhan said.

The accused revealed that he is an employee of an e-commerce firm and had come into contact with Diana on social media who told him that she was from the US, police said.

Diana made him an offer that if he provides her with some Indian bank accounts for her clients to send money in, he will get four to five percent of the transaction amount, the DCP said.

After he received the money in those accounts, Singh would cut his commission and would send the money in Bitcoins to Diana.

Singh has six more bank accounts which he used for the same purpose, Vardhan said, adding that more than 15 cryptocurrency trading applications were found installed in his mobile phone.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

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