Mumbai: In a shocking case of cyber fraud, a 29-year-old manager working for a multinational company in Mumbai’s Andheri area lost Rs 32 lakh after falling victim to a cryptocurrency investment scam. The scam originated through a matrimonial platform, where the victim had registered in January 2025 in hopes of finding a life partner.
The incident occurred when the victim came in contact with a woman who identified herself as Mahi Agarwal on April 21. She claimed to be from his home state and community, details that immediately appealed to him, as reported by Hindustan Times. Agarwal told the victim that she was a cryptocurrency investor employed at a Malaysian firm named Boost Base, drawing a six-figure salary.
As the online conversations progressed on the matrimonial site, their interaction shifted from discussion of marriage to financial investments. Agarwal convinced the victim to invest in cryptocurrency through her company. Following her advice, he opened an account on the exchange KuCoin and downloaded the Boost Base app.
Between April and May, the victim transferred nearly Rs 33 lakh into the app. However, on May 18, when he attempted to withdraw the funds displayed in his virtual account, he discovered that he had been locked out, with no access to the money, according to report. Realising that he had been scammed, he approached the Cyber Crime Police (West Division).
The police registered a case under Section 66(D) of the Information Technology (IT) Act, along with multiple sections of the Bharatiya Nyaya Sanhita (BNS), including Sections 318(4), 319(2), 336(2), 336(3), 338, 340(2), and 61(2), as reported.
In another news story related to the cyber fraud a 44-year-old man from Chandivali, Mumbai, was duped of Rs 40 lakh over 19 days by a woman he met on Facebook, who posed as a fashion designer named Priya Kumari. After moving their chat to WhatsApp, she offered him stock market tips. Another woman, Ritika Sharma, later added him to a Telegram group, where he was guided into making fraudulent investments. The police have registered a case and are investigating the scam.
