Pune: 36 Year Old Bhosari Businessman Duped Of ₹1.11 Crore In Bitcoin Investment Scam
Pune Crime, Bitcoin Scam, Bhosari Businessman, ₹1.11 Crore Fraud, Cyber Crime, Investment Duped
Pune, September 24, 2025 – A 36-year-old man from Bhosari was cheated of ₹1.11 crore in a cryptocurrency fraud after being lured with promises of quick profits through bitcoin and digital gold mining investments.
According to police, the incident occurred between March 25 and July 23, but the victim lodged a complaint at the Pimpri Chinchwad Cyber Police Station only on September 22 after realizing he had been conned.
Investigators revealed that fraudsters convinced the man to invest through multiple online transactions, assuring him of high returns. He eventually transferred ₹1.11 crore to the scammers. To maintain the illusion, the gang showed him fake profits of nearly ₹7 crore through a dashboard app they asked him to install on his phone.
However, when the victim attempted to withdraw his supposed earnings, the fraudsters demanded a 20% fee upfront. On refusing to pay, his request was blocked, and he realized he had fallen prey to a cybercrime.
Police have registered a case under Sections 316(2), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita, along with Sections 66(C) and 66(D) of the Information Technology Act.
Authorities have once again warned citizens to remain cautious while investing in cryptocurrencies, stressing the importance of verifying platforms before making financial transactions.
