A 53-year-old woman from Goregaon, Mumbai, has been cheated out of ₹79 lakh in a cryptocurrency fraud carried out by her Facebook friend, police revealed on Saturday.
The accused, Zuber Shamshad Khan, allegedly convinced the woman to invest in a cryptocurrency scheme promising high returns. Between October 2020 and March 2025, the victim made multiple investments totaling ₹78,82,684, according to an official from Kharghar police station in Navi Mumbai.
The scam came to light when the woman attempted to withdraw her invested money but was refused a refund by Khan. Following her complaint, police registered an FIR against Khan on May 15 under Section 318(4) (Cheating) of the Bharatiya Nyay Sanhita and relevant sections of the Information Technology Act.
The investigation is ongoing as authorities work to trace the accused and recover the lost funds.
Sources By Agencies
