Daijiworld Media Network- Bagalkote
Bagalkote, Apr 20: In a shocking incident of online fraud, a young entrepreneur and son of a well-known businessman from Mudhol has been cheated of a whopping Rs 46.18 lac by a woman he befriended through Facebook. The woman, along with her accomplices, lured the victim into a bogus online trading scheme, promising high returns. The case has now been registered at the Mudhol police station.
The victim had come into contact with the accused woman via Facebook Messenger in October last year. Their conversation gradually grew into a close virtual friendship, with regular exchanges. After gaining his trust, the woman introduced the victim to another individual whom she described as her “guru” in trading, and shared four mobile numbers associated with him.
Following her advice, the victim began investing in what he believed to be a legitimate trading platform, making transactions through links provided by the fraudsters. Initially, he received some returns, which convinced him to invest more.
From October 2024 to January 2025, the victim made repeated transactions totalling Rs 46.18 lakh using USDT (Tether), a cryptocurrency, hoping to earn substantial profits. The scammers later demanded a 30% share of the profits and even claimed that the youth had earned over Rs 1.7 cr. But when he attempted to withdraw the profits, they asked him to deposit 15% of the amount as a “security deposit.”
Realizing he had been duped; the entrepreneur demanded a refund. However, the fraudsters diverted the conversation, suggesting he sell the USDT tokens they had given him. They then misled new account holders by claiming the original victim had already received the funds.
Despite repeated awareness campaigns, cases of cyber fraud continue to surface. Police officials once again urged the public to avoid trusting unsolicited messages, especially those involving investment schemes. Citizens are advised never to open suspicious files and to act quickly in case of fraud. Victims should call the national cybercrime helpline 1930 or report to the nearest police station within the “golden hour” to increase the chances of recovering the lost amount.