A man from western Bengaluru lost ₹44 lakh after falling victim to a cyber scam cleverly disguised as a romantic relationship and a lucrative investment offer, Deccan Herald reported.
According to officials, the fraud began when the victim, who was searching for a life partner, connected with a woman identifying herself as “Archana” on Instagram. Their casual chats soon became frequent, and within days she introduced him to an alleged Bitcoin trading platform, promising large returns on small investments.
Believing her convincing tone and the website’s appearance, the man began transferring funds in phases to various bank accounts. Initially, the platform displayed fake profits, which encouraged him to keep investing more money. However, when he attempted to withdraw his earnings, he was repeatedly told to deposit additional sums to “unlock” his balance.
By the time he realised he had been conned, nearly ₹44 lakh had been siphoned from his accounts. It was only after discussing the situation with friends that he suspected fraud and filed a complaint at the Central CEN Crime Police Station.
Cybercrime investigators suspect this scam is part of a larger network exploiting fake social media identities and unregulated cryptocurrency schemes to target unsuspecting individuals. Authorities are now tracking the bank accounts involved and analysing digital footprints tied to the fraudulent website.
Officials have urged the public to remain cautious while engaging with strangers online, especially when money and personal details are involved.