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An Indian Doctor Falls Victim to Crypto Investment Scam, Loses Approximately $1.5 Million, Police Have Registered a Case for Investigation

56 minutes ago

May 19: A prominent private doctor in Guntur, India, lost roughly 1.3 billion rupees (about $1.5 million) in a cryptocurrency investment scam, per a *Times of India* report. Local police have opened an investigation following the doctor’s complaint, tracing the flow of funds and the online criminal gang linked to the fraud. According to the report, scammers lured victims with high cryptocurrency investment returns via an online platform, first using fake profit data to gain trust. The doctor kept adding more money into the scheme and even convinced family and friends to invest alongside him. When he tried to withdraw his funds, the platform began delaying or outright rejecting requests for various excuses. Though his account still displayed large "profits," none of the money was accessible—and the doctor finally realized he’d been scammed. Police suspect the case involves an organized cross-border fraud ring. They are currently probing related bank accounts, digital wallets, and transaction records tied to the incident.
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