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Indian Engineer Loses $130K to Crypto Investment Scam

Indian Engineer Loses $130K to Crypto Investment Scam

Author:

Global Cryptocurrency

Published:

2025-12-07 11:10:02

19

3

BTCCSquare news:

A former public sector engineer in India fell victim to an elaborate cryptocurrency investment scam, losing approximately $130,000. The fraudsters operated through a WhatsApp group named '531 DBS Stock Profit Growth Wealth Group,' where they posed as financial experts, including a self-proclaimed 'Professor Rajat Verma' and analyst 'Meena Bhatt.'

The scheme involved directing victims to download a malicious application from a suspicious domain. Initial small withdrawals were permitted to build trust before coercing larger deposits—totaling 1.2 crore rupees (∼$130,000)—under false pretenses of exclusive IPO access.

Authorities warn this scam reflects a broader trend of crypto-related fraud exploiting retail investors. The case underscores risks in opaque investment channels and the need for regulatory scrutiny.

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