Crypto Scam Victim in Thane Maharashtra Receives ₹36 Lakhs Refund After 1 Year

The owner of a mobile shop in Thane district of Maharashtra has finally received his full refund of ₹36 lakhs, a year after falling victim to a cryptocurrency scam. The police investigation has revealed that the crime was committed by a Chinese national. The cyber cell of the Mira Bhayandar-Vasai Virar (MBVV) police commissionerate has been handling the case. Senior Inspector Sujit Kumar Gunjkar of the cyber cell stated that the victim was lured into the cryptocurrency trading business in February 2022 and later joined a WhatsApp group.

According to Gunjkar, "Under this deception, the victim made an investment through a mobile app and bought cryptocurrency worth $39,596. However, by May last year, the WhatsApp group had been shut down, and the victim was unable to establish contact with the administrators."

After realizing that he had been conned, the victim filed a complaint with the cyber police. The police initiated an investigation and issued orders for the refund. The amount was successfully refunded, and the victim received his money back a few days later.

During the investigation, the police identified a registered cryptocurrency transfer center called OKex in Seychelles. They also discovered a suspicious cryptocurrency wallet. The police contacted OKex and found that the wallet belonged to a Chinese national.

Based on the complaint and investigation, the Kashimira police station registered a case under Section 420 (cheating) and Section 34 (common intention) of the Indian Penal Code (IPC). The cyber cell then presented detailed evidence and investigation results to the local court. They informed the court that the victim's funds were in the wallet of the Chinese national and that the number used to contact the victim was from Hong Kong.

Based on the arguments presented by the cyber cell, the court ordered the complaintant to be refunded ₹36 lakhs as cryptocurrency. The amount was recovered and returned to the victim a few days later.

It is worth mentioning that a cryptocurrency wallet is a software or hardware device that comes in various forms and sizes. Users store their cryptocurrencies in these wallets and use them for transactions.