Bitcoin scam trickery costs engineer Rs 16.77 million

Scams have become increasingly sophisticated in recent years, leaving many people unaware until it’s too late. A recent case in Rourkela highlights this issue, where a 38-year-old junior engineer working with the state government fell victim to a cryptocurrency investment scam or bitcoin scam, losing Indian Rupees (INR) of 51 lakh.

The victim, hailing from Ganjam district, India, is posted in the Bonai area of Sundargarh. The fraudsters, operating under the name “GBE Transaction Group 603,” initially lured the engineer with promises of huge returns from bitcoin investments.

In March, the engineer received a WhatsApp link from the scammers offering cryptocurrency investment opportunities.

He invested INR 10,000, convinced of good returns, but was later told he had lost this amount. The cryptocurrency scammers persuaded him to invest more money with the promise of higher returns.

Between March and July, the engineer transferred a total of INR 51 lakh around (16.77 million in PKR) through four different bank accounts, hoping to make a profit, little that he know it was a perfect plan to execute bitcoin scam.

However, the fraud was exposed in August when the bitcoin scammers demanded even more money. Realizing he had been tricked into a cryptocurrency investment scam, the engineer reported the incident.

“We have registered a case under sections 419, 420 of IPC and section 66D of the IT Act,” said Padmavati Mirdha, IIC, Cyber Police Station, Rourkela.

“We’re working with various banks to trace the money trail and identify the fraudsters,” she added. The engineer, initially embarrassed, finally filed an FIR on November 4 at the Cyber Police Station in Rourkela.

Back on November 18, a 77-year-old retired engineer from Rohini, India, fell victim to a terrifying scam that spanned him 19 days of digital arrest, during which he was manipulated and coerced into losing over INR 10 crore.

This case highlights that digital fraud can affect anyone, regardless of age or background.

The nightmare commenced on September 25 when the engineer received a call from an individual claiming to represent a courier company, notifying him about a returned package. Typically, he avoids picking up calls from unknown numbers, but he answered this one.

The caller explained that a parcel sent from Mumbai to China contained his Aadhaar information and connected him to a video call with someone who identified themselves as a Mumbai Police officer.

During the call, the alleged officer accused him of being implicated in money laundering and requested his bank information for verification purposes. The victim was then transferred to another person who presented himself as a senior officer from the CBI.

Speaking with an authoritative tone, the man instructed the engineer to go to a private space to avoid being overheard. He displayed documents, including one that contained his Aadhaar details, and cautioned him against disclosing anything to his family. He was also told not to leave the country and that his phone was being monitored.

Throughout the following of 19 days of digital arrest, the scammers kept a tight grip on the engineer, stating that an investigation was ongoing and pressuring him to transfer substantial amounts of money. Fearing for his safety, he sent INR 10.3 crore in three different transactions.