A 36-year-old software engineer from Bengaluru’s Thanisandra area allegedly lost ₹43.48 lakh in an online cryptocurrency scam after fraudsters lured him with a fake part-time job offer.
According to reports, the victim initially received a WhatsApp message from an unknown number offering an opportunity to earn money through part-time online tasks, including rating products on Amazon.
Scammers used fake crypto platform details
Police said the fraudsters later shifted communication to Telegram and allegedly convinced the engineer to invest money through a fake cryptocurrency trading platform by claiming links with Coinbase.
Investigators said the scammers initially allowed small transactions and profits to build trust before encouraging larger investments.
Believing the scheme to be genuine, the engineer reportedly transferred lakhs of rupees over multiple transactions.
Withdrawal blocked after huge investment
Trouble reportedly began when the victim attempted to withdraw the invested amount and profits. The fraudsters allegedly blocked the withdrawal process and demanded additional payments along with fake Reserve Bank of India-related documents and verification procedures.
Police said communication abruptly stopped after the victim refused further payments, following which he realised he had been cheated and approached authorities.
Rise in crypto and online job scams
Cybercrime officials have warned that fake cryptocurrency investment schemes and fraudulent online job offers are rapidly increasing across India, particularly targeting young professionals and tech employees.
Scammers often use WhatsApp, Telegram, fake trading dashboards, and forged company identities to appear legitimate and gain victims’ confidence.
Police have urged the public to remain cautious while responding to unknown online job offers, investment schemes, and cryptocurrency-related platforms promising quick profits.
Further investigation into the case is under way.