Indian Immigration Officer Loses Lakhs in Cryptocurrency Scam via WhatsApp
Immigration Officer Loses ₹78.85 Lakh in Cryptocurrency Scam
A 41-year-old immigration officer at the Malaysian Consulate in Bandra West has fallen victim to a cryptocurrency investment scam, losing approximately ₹78.85 lakh.
The Scam
The scam, which began on Instagram, involved a group called ‘EG Plan’ that shared stock market tips and encouraged members to invest in cryptocurrency through a website.
The group, operated by individuals claiming to be Mayati Gupta and Arjun Singh, had around 50 members and regularly posted updates on investment opportunities. In April 2024, the victim was persuaded to invest in cryptocurrency through the website.
However, when he attempted to withdraw his profits on June 20, 2024, he was asked to deposit an additional ₹18 lakh as a “processing fee,” raising his suspicions.
Delayed Reporting
Despite realizing he had been duped, the victim did not immediately report the crime due to mental stress and fear of social embarrassment. It wasn’t until February 10, 2026, that he contacted the national cybercrime helpline and lodged a formal complaint with the Cyber Police.
Investigation
Investigations revealed that the scammers used a layered network of mule accounts to disperse funds, making it difficult to trace the money. The accounts were held in the names of various entities, including construction firms, gem traders, catering services, and travel agencies.
The website featured a professional-looking dashboard, and the victim was gradually encouraged to increase his investment amount.
Warning Signs
Other members of the group posted screenshots of fake profits to create “social proof” and lure investors. Cyber experts have identified common warning signs in such scams, including:
- Promises of guaranteed returns
- Demands for additional fees to withdraw funds
- Lack of SEBI registration
- Investment advice delivered solely through social media
Conclusion
The case highlights the growing risks of social media-driven investment scams and the need for heightened vigilance before committing funds to unverified platforms. Police are urging citizens to report online financial fraud immediately, as early reporting improves the chances of freezing accounts and recovering funds.
The investigation is ongoing, and authorities are tracing the money trail to identify those involved.
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