Retired Bank Manager Loses Rs. 2.52 Cr in Crypto Scam. Honey Trap Scam and Fake Crypto Platform Used in a Cyber Fraud Network Case
A retired bank manager from Nawabganj lost Rs. 2.52 crore in a cryptocurrency investment scam. The case started with a honey-trap scam on social media. It later turned into a large cyber fraud network case.
The victim, Anil Kumar Singh Chauhan, met a woman online in 2025. She called herself Ira Reddy. She talked to him daily and slowly gained his trust. After some time, she built an emotional bond with him.
How the Investment Scam Began
She then introduced him to a fake crypto investment platform. She said the platform gives high profits in a short time. The platform also fabricated profits to make it appear real.
The victim started by investing small amounts. After seeing fake returns, he trusted the platform more. He then invested large amounts of money.
To invest more, he took a loan of Rs. 1.98 crore. He said it was for buying a flat. That money also went into the scam.
In total, Rs. 2.52 crore was sent in about 35 days. The money went into many bank accounts. These accounts were part of a cyber fraud network. The accounts were spread across several states in India.
Victim Realizes the Fraud
The scam came out when the victim tried to withdraw money. The fraudsters then asked for more money. They said taxes and charges must be paid first. After this, the victim understood he had been cheated.
He then filed a complaint with the police. Cyber teams started checking phone data and bank records. They found many accounts used in the scam.
Police arrested one person named Vipin Kumar from Bijnor district. He had received around Rs. 45 lakh in his bank account. He is suspected of helping move scam money.
So far, four people have been arrested in this case. Police are still looking for other members of the cyber fraud network.
Police Investigation Continues
Experts say scammers use simple tricks to cheat people. They first build trust. Then they show fake profits. After that, they ask for more and more money.
Officials say people should be careful with online investment offers. No platform can guarantee high profits without risk. Every investment should be checked properly before sending money.
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
