New Delhi: A man from east Delhi was duped of approximately Rs 64 lakh in a cryptocurrency investment scam.The complainant, a resident of east Delhi’s Mayur Vihar, told cops that he came across an application. The platform claimed to offer intraday forex and cryptocurrency trading, including contract and dual trading options. To verify its authenticity, the complainant initially invested Rs50,000. A small withdrawal of Rs2,640 was successfully credited to his bank account the same day, which created confidence in the platform’s legitimacy.Encouraged by the initial withdrawal, the complainant made multiple investments over the next two months into various bank accounts linked to different firms. Between Aug 29 and Oct 18, 2025, he transferred a total of Rs16.3 lakh to accounts held in the names of several enterprises across different branches of a public sector bank. Another withdrawal of Rs 35,840 was credited, further reinforcing the belief that trading profits were genuine.Police said the complainant was shown inflated profits on the platform and was led to believe that his investment had grown substantially. When he attempted to withdraw Rs88 lakh, he was allegedly told to first pay Rs47.8 lakh as capital gains tax, failing which a penalty of 2% per day would be imposed. He was also informed that the amount would be treated as Tax Collected at Source.Believing the demand to be legitimate, the complainant arranged funds through personal loans and transferred Rs47.8 lakh to another bank account provided on the platform. Despite assurances that the money would be released within 48 hours, no payment was made. Suspecting fraud, he lodged a complaint on the national cybercrime portal on Nov 15.
