Archive · 18 Nov 2025
Bengaluru Residents Lose Millions in Separate Crypto & Forex Scams
Three people from Bengaluru lost a lot of money due to online scams.
One was tricked into investing in crypto and forex, another was threatened by scammers posing as CBI officers on Skype, and the third was lured by promises of high returns in forex trading.
A 45-year-old Bengaluru resident lost Rs 42.62 lakh in a crypto scam on Telegram.
A 57-year-old woman lost nearly Rs 32 crore in a 'digital arrest' scam over Skype.
A 52-year-old man lost Rs 92.57 lakh in a forex scam promising high returns.
- Who
- Shakthivel E (crypto), a 57-year-old woman (Skype), Mustafa Mukandar (forex)
- What
- Fell victim to online scams
- When
- Between July 3 and August 1, 2022 (crypto), September 15, 2024 to March 26, 2025 (Skype), August 20, 2022 to November 10, 2022 (forex)
- Where
- Bengaluru, India
- Why
- To participate in profitable investment opportunities
Victim's Perspective
Scammer's Perspective
Withdrawal of Funds
Victim's Perspective
Victims claim they were unable to withdraw their invested amounts despite showing profits.
Scammer's Perspective
Scammers claim various reasons like incorrect details, additional fees, or processing charges to prevent withdrawals.
- Total Amount Lost (Crypto)
- Rs 42,62,081
- Total Amount Lost (Skype)
- Approximately Rs 31.83 crore
- Total Amount Lost (Forex)
- Rs 92.57 lakh
- Platform Used (Crypto)
- Telegram
- Platform Used (Skype)
- Skype
- Platform Used (Forex)
- Online forex trading scheme
- FIR Filed On (Crypto)
- November 14, 2022
- FIR Filed On (Forex)
- November 10, 2022
