An Indian Doctor Falls Victim to Crypto Investment Scam, Loses Approximately $1.5 Million, Police Have Registered a Case for Investigation

BlockBeats News, May 19th, according to Times of India report, a prominent private doctor in Guntur, India, lost about 1.3 billion rupees (approximately $1.5 million) in a cryptocurrency investment scam. The police have launched an investigation based on the victim's complaint, tracing the flow of funds and the online criminal gang involved.

The report stated that the fraudsters promoted high cryptocurrency investment returns to the victims through an online platform, initially displaying false profit data to gain trust. The doctor then continued to add more investment, even persuading family and friends to invest together.

It was only when attempting to withdraw funds that the platform started delaying or refusing withdrawals for various reasons. Despite the account page still showing substantial "profits," the funds were never accessible, and the victim eventually realized they had been scammed.

The police suspect that this case involves an organized cross-border network fraud group and are currently investigating related bank accounts, digital wallets, and transaction records.