India Probes $122K Crypto Scam as Digital Fraud Cases Surge Nationwide
India arrests a 25-year-old in a $122K crypto scam as digital fraud cases surge nationwide, with police warning of rising AI-driven schemes.
Quick overview
- A 25-year-old man from Gujarat has been arrested for a cryptocurrency scam worth Rs. 1.1 crores, targeting a local doctor through WhatsApp and Telegram.
- The suspect, Parmar Prateek Bipinbhai, allegedly promised high returns on digital asset investments before siphoning off the money into his accounts.
- This incident highlights a growing trend of online financial scams in India, with scammers increasingly using AI to impersonate officials and intimidate victims.
- Authorities are urging the public to remain vigilant and report suspicious activities, especially regarding unsolicited investment offers.
Indian authorities have detained a 25-year-old man from Gujarat in connection with a big cryptocurrency scam worth Rs. 1.1 crores ( just over 120,000 bucks). The scam was run over WhatsApp and Telegram and targeted a local doctor.
Police say the suspect, Parmar Prateek Bipinbhai, claimed he could get people high returns through investing in digital assets & he’d then just whisk the cash away to his own bank accounts.
The money was quickly turned into cryptocurrency & other digital rubbish & then shifted overseas. When the doctor finally twigged what was going on, he filed a complaint with the City Cyber Crime Police & the authorities set off on a coordinated swoop across Ahmedabad & the surrounding areas to round up the scoundrel.
The bloke was eventually arrested & he was hauled in front of the Thiruvananthapuram Additional Chief Judicial Magistrate Court, where he was locked up pending a further probe. What’s a bit worrying is that this isn’t the first time this fella’s been involved in a scam like this – it is his third.
A Growing Wave of Digital Scams in India
This one case is just the tip of the iceberg when it comes to online financial scams that are becoming a major problem in India. Loads of them now use artificial intelligence to pretend to be officials, or make up evidence, or try to intimidate people into handing over their cash.
There was another case this week where an older fella was scared into handing over nearly 52 lakh rupees because some scammers had set up a virtual courtroom on his phone & were telling him he was under investigation. He was getting video calls telling him to stay hidden away from his family.
Some of the dodgy tactics the scammers have been using include
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Using AI to fake up videos of police or government officials
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Sending out fake legal notices & making up loads of nonsense about a court case
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Trying to scare people into sending money over quickly by saying they’re under investigation
Police Warn People to be on Their Guard
The authorities are now working to catch the other blokes linked to these two cases & are saying that people need to be on their guard as the scammers get cleverer.
They’re urging people to report any dodgy activity straight away & to steer clear of any unsolicited investment offers or attempts to scare you by sending fake legal threats over the internet.
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