A 71-year-old petrochemical businessman from Matunga was allegedly cheated of Rs7.11 lakh by cyber fraudsters who promised high returns through cryptocurrency trading. The scammers, posing as a woman on Facebook, befriended the victim before leading him into a fake trading scheme.
How the Scam Unfolded
According to the FIR filed at Matunga police station, the complainant, Gopal Nathmal Agarwal, runs a petrochemical trading business under the name Maruti Impacts India Pro. In July 2025, Agarwal connected with a woman claiming to be Sonakshi Gupta from Bengaluru via Facebook. After gaining his trust, she continued communication over WhatsApp.
On August 15, she introduced him to option trading using cryptocurrencies such as USDT and Bitcoin on the Trust Wallet platform, claiming to have earned substantial profits. Agarwal was convinced to download the app and use a specific URL, which redirected him to a fake trading interface mimicking the original platform.
Transactions and Loss
Believing the platform to be legitimate, Agarwal followed her instructions. To trade, he converted Indian Rupees into USDT and transferred funds via a company named Bala Ji Go Green Private Ltd.
Over four transactions, until October 3, 2025, Agarwal transferred a total of Rs7.11 lakh. When he later attempted to withdraw funds, the platform demanded an additional $5,000, citing a low credit score. Realising the fraud, Agarwal sought a refund, but the scammers gave evasive responses.
Complaint and Police Action
Suspecting fraud, Agarwal contacted the National Cybercrime Helpline (1930) and filed a complaint at Matunga police station. The police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.
The accused remain unidentified, linked to the WhatsApp number, bank account, and UPI ID used in the scam. Investigations are ongoing to trace and apprehend the culprits.
