1 week ago
Nashik Businessman Loses Lakhs in Fake Crypto Trading Scam
A Nashik businessman was tricked by people pretending to run a cryptocurrency trading website.
The scammers first contacted him on Instagram and then moved the conversation to WhatsApp.
They showed him fake profits on an online dashboard to make the investment appear real.
He was persuaded to send money to several bank accounts and UPI IDs.
The payments became larger over several weeks.
When he tried to withdraw his profits, the scammers demanded more money as fees and taxes.
The businessman refused to pay more and contacted the cyber crime cell.
Police have registered a case and are tracing the accounts and phone numbers involved.
A 32-year-old Nashik businessman allegedly lost lakhs of rupees through a fake cryptocurrency trading platform.
The scam began on Instagram before moving to WhatsApp, where the victim was introduced to a bogus trading website.
Fraudsters staged a three-day training session and collected the victim’s Aadhaar and PAN details for fake verification.
The victim transferred amounts ranging from Rs 20,000 to Rs 81,810 after scammers displayed artificial USDT profits on his dashboard.
Police registered a case after the suspects demanded additional fees and taxes to release the supposed profits, then stopped communicating.
- Who
- A 32-year-old businessman from Nashik was allegedly defrauded by scammers posing as cryptocurrency traders.
- What
- He lost lakhs of rupees in an alleged fake cryptocurrency trading platform scam involving fabricated profits and withdrawal demands.
- Where
- The victim was based in Nashik, Maharashtra, and the scam was conducted through Instagram, WhatsApp, a website, bank accounts and UPI IDs.
- When
- The report is dated August 24, 2026; the transfers began in mid-November and continued over several weeks.
- Why
- The scammers allegedly used promises of high returns and artificial profits to persuade the victim to transfer increasingly larger amounts.
Key facts
- Victim
- A 32-year-old Nashik businessman
- Reported date
- August 24, 2026
- Initial transfer
- Rs 20,000
- Individual transfer range
- Rs 20,000 to Rs 81,810
- Fake withdrawal demand
- The suspects demanded fees and taxes, including an alleged upfront payment of 30% of earnings.
- Contact channels
- Instagram and WhatsApp
- Police action
- A case was registered, and linked bank accounts and mobile numbers are being traced.
Sources
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