crypto: Crypto Fraud Now Hits Social Media | Kolkata News – Times of India


Kolkata: Beware of cryptocurrency frauds in the city, especially while using social media like Facebook and Instagram. In the fourth such instance in the past one year, a student of a leading hotel management institute in Kolkata reportedly spotted a lucrative offer on Instagram on April 16 and was duped by an offer of major earnings and high returns from cryptocurrency.
“According to the complaint, the student, Shahbaz Akhtar (20), had come across a fake profile where one of the accused introduced himself as an expert Shanaya Chauhan. The profile had close to 9000 followers which made him confident to invest. The user claimed to multiply his money in 30 days by investing if he invested in the crypto market,” said DC (Port) Zafar Ajmal Kidwai.
The student invested Rs30,000. “The accused, following a pre-planned trick, impersonated Chauhan, a crypto currency expert, over Instagram account and induced the complainant to invest in Crypto currency. The complainant transferred Rs30,000 in the account of the accused person through an e-wallet transfer,” said Kidwai.
However, after a few days, the Insta-profile vanished. Neither did the money double nor was it returned. Shocked, Akhtar contacted the Port division police and a FIR was lodged at Rajabagan police station under different sections of cheating and criminal conspiracy. The Port division’s cyber cell then intervened, and a detailed investigation was launched.
“We could track the money trail and finally reach the accused persons. On Saturday morning, all three were arrested. They have been identified as Sk Riyazufddin alias Tabrez (18), Adnan Hossain (21) and Adnan Hossain(21). While the first two hail from Mominpore, the third is from a condo in Batanagar,” said Kidwai.

Read More: crypto: Crypto Fraud Now Hits Social Media | Kolkata News – Times of India

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