₹79 lakh crypto scam: Immigration officer duped via WhatsApp trading group

₹79 lakh wiped out in crypto scam: The danger of WhatsApp tips

A 41-year-old immigration officer posted at Malaysia’s consulate in Mumbai has lost nearly ₹79 lakh in a cryptocurrency investment scam, police said on Thursday.

 

The victim approached the police authorities around one-and-a-half years after the incident, citing severe mental stress and fear of social stigma, officials from the East Region Cyber Police said.

 

How the scam worked

 

The fraud began in January 2024, when the victim was added to a WhatsApp group called “EG Plan”, which shared stock trading tips. With some prior understanding of markets, the officer found the discussions credible and began following instructions shared in the group.

 

He was directed to register on a trading website and start investing. Over time, he transferred money across more than 18 bank accounts using online transfers and RTGS. Initially, he received returns of ₹1.69 lakh — a common tactic used by fraudsters to build trust.

 

Encouraged by these early gains, he continued investing between April 2024 and June 2025, eventually putting in around ₹78.85 lakh into what he believed was a legitimate crypto trading platform.

 

The turning point

 

The scam unravelled when he attempted to withdraw his funds. The fraudsters demanded an additional ₹18 lakh as a “processing fee” — a red flag in most financial scams. When he refused to pay, all communication abruptly stopped.

 

After consulting his bank, he approached the police. A case has now been registered against unknown individuals under charges of cheating, criminal conspiracy, and provisions of the IT Act. 

 

Police are currently tracing the bank accounts where the funds were transferred and identifying the account holders, the official said, adding that investigation was underway.

 

Why this matters to you

 

This case is a classic example of a “trust-building investment scam”, where:

 

• You are added to a group with seemingly credible discussions
• Small initial profits are shown to build confidence
• Larger investments are encouraged over time
• Withdrawals are blocked with fake charges

 

 Key lessons for investors

 

• No legitimate platform asks for withdrawal fees upfront
• Multiple bank accounts = major red flag
• WhatsApp/Telegram “investment groups” are high-risk zones
• Early profits can be bait, not proof of legitimacy
• If it feels too smooth or too profitable — pause immediately

 

The bigger picture

 

Cyber frauds linked to crypto and online trading are rising sharply in India, with scammers blending social engineering and financial jargon to appear credible. The delay in reporting — due to fear or stigma — often makes recovery harder.