₹1 Crore Bitcoin Scam in Hapur Linked to Facebook Friendship

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Hapur Cyber Fraud: Alleged Romance Scheme Targets ₹1 Crore Investment

In a chilling example of how cybercrime networks are converging social engineering tactics with digital investment scams, authorities in Hapur, Uttar Pradesh, are investigating a case of a local man being duped of nearly ₹1 crore through a fake Bitcoin investment scheme.

Victim Fell Prey to Emotional Connection

According to officials, the victim, Hariom Singh, a resident of Brajghat in the Garhmukteshwar area, fell prey to the scam after befriending a woman named Asha Gupta on social media approximately one-and-a-half to two months prior to the incident. The initial interactions escalated into frequent chats and phone calls, during which the woman allegedly established an emotional connection with the victim.

“The victim became emotionally attached to the woman, believing she was genuinely interested in him,” said officials.

Cybercrime Network Utilized Mule Bank Accounts

The investigators claim that the accused then introduced Singh to cryptocurrency investment opportunities, touting Bitcoin trading as a means to generate substantial profits within a short timeframe. Initially, the woman persuaded Singh to invest smaller amounts, returning “double profits” to create the illusion of a genuine and lucrative investment platform.

Beling the scheme to be legitimate, Singh progressively invested larger sums of money, totaling nearly ₹1 crore in multiple installments. The transactions were carried out through various digital banking channels, including PhonePe, RTGS transfers, and mobile-linked payment wallets provided by the accused.

Preliminary investigations have revealed that the money was routed through nearly 10 to 12 different accounts, sparking suspicions that the scam may have been operated by an organized cybercrime network utilizing mule bank accounts to conceal the money trail.

Warning Against Social Media Relationships and High-Risk Investments

Renowned cybercrime expert and former IPS officer Prof. Triveni Singh noted that cybercriminals are increasingly merging romance scams with cryptocurrency fraud to create convincing financial traps, citing that fraudsters initially build emotional trust by showcasing small profits before manipulating victims into transferring significant amounts of money.

Police have cautioned people against trusting investment schemes promoted through newly formed social media relationships and advised citizens to independently verify cryptocurrency and high-return investment offers before transferring money online. Those who suspect suspicious digital transactions or online investment fraud are encouraged to report the matter to the national cyber helpline (1930) and file a complaint with their local cyber police station.

The authorities urge citizens to remain vigilant and cautious while engaging in online activities, especially when dealing with unfamiliar individuals or investment opportunities.