A Bengaluru-based software engineer allegedly lost ₹43.48 lakh in a sophisticated cryptocurrency scam after being lured through a fake part-time job offer promising easy online earnings.
Police have launched an investigation into the cyber fraud case, which reportedly involved fake investment dashboards, cryptocurrency wallets, and manipulated digital platforms designed to gain the victim’s trust.
Fake online job used as bait
According to investigators, the victim was first contacted through an online message offering a flexible part-time work opportunity with promises of high commissions and quick earnings.
Initially, the engineer was allegedly assigned simple online tasks and allowed to withdraw small amounts, creating confidence in the platform. Police said the fraudsters later introduced cryptocurrency-based investment activities linked to the same system.
Investigators believe the accused used fake profit displays and fabricated account balances to convince the victim that the investments were generating high returns.
Victim persuaded to invest larger sums
As the displayed profits increased, the fraudsters allegedly pressured the engineer to invest more money into cryptocurrency-linked accounts and trading wallets controlled by them.
Police said the accused repeatedly claimed that higher investments would unlock bonus commissions and larger profits.
The fraud reportedly came to light when the victim attempted to withdraw the accumulated amount. The scammers allegedly demanded additional payments for taxes, verification, and processing charges before cutting off communication completely.
Cyber police tracing digital transactions
Cybercrime officials are now tracing bank accounts, cryptocurrency transactions, mobile numbers, and digital communication records linked to the case.
Investigators suspect the fraud network could be part of a larger organised cybercrime syndicate operating across multiple states or countries through fake online job offers and crypto investment schemes.
Police have advised citizens to verify online job opportunities carefully and avoid transferring money to unknown investment or cryptocurrency platforms