Scammers are increasingly combining AI buzzwords with crypto promises to lure unsuspecting investors.
A Chandigarh resident lost over Rs 37 lakh to an elaborate cryptocurrency trading scam after fraudsters used fake certificates and doctored transaction screenshots to gain his trust.
Narender Ahlawat a resident of Sector 44 Chandigarh believed he had found genuine investment opportunity. Fraudsters claiming to represent a company called TRD-NFT reached out to him promising daily returns of 2% through AI-powered crypto trading. The pitch was polished and convincing. Fake certificates and fabricated transaction records made the scheme look credible.
Ahlawat transferred $40,704 which is roughly Rs 37.23 lakh to digital wallet. When he later tried to withdraw his funds and profits representatives stopped responding and disappeared entirely.
The Cyber Crime Police Station took over investigation. Officers worked with crypto exchange Binance to trace where the money had gone. The trail led to Jitendra Singh a 29-year-old man from Rajasthan. Police arrested him on April 8 and seized his mobile phones.
During interrogation Jitendra admitted to joining the scheme after connecting with a Haryana-based individual who specialised in such scams. He had allowed his own Binance wallet to be used as a receiving account for victims’ funds. He was essentially a mule facilitating movement of stolen money.
The investigation is continuing. Police are working to identify other members of the network including whoever was operating from Haryana.
This case is part of growing pattern across India. Scammers are increasingly combining AI buzzwords with crypto promises to lure unsuspecting investors. The public is urged to report suspicious investment offers to the national cybercrime helpline at 1930 or through cybercrime.gov.in.
