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Rs 1.6-cr crypto fraud! Filipino woman cons Navi Mumbai man, says report

Rs 1.6-cr crypto fraud! Filipino woman cons Navi Mumbai man, says report

The Filipino woman, a cyber fraudster, convinced the Kharghar based man, to do online trading in cryptocurrency.

The incident took place between January and May. The incident took place between January and May.

Navi Mumbai's 38-year-old software engineer has been duped of Rs 1.6 crore by a Filipino woman, who befriended him on a dating app, according to a media report. The Filipino woman, a cyber fraudster, convinced the Kharghar-based man, to do online trading in cryptocurrency, reported The Times of India.

According to the report, the woman identified herself as Rose Chen on the dating app, and  befriended the victim in January. She suggested him to invest in crypto saying last year she had earned Rs 2 crore from it. The woman claimed to be a native of Philippines and that her kin are financial advisors in crypto currency investment.

The incident took place between January and May. However, the victim registered the FIR on November 18.

The report also revealed that the woman made him download USB Coin Exchange and Binance apps. It revealed that when he invested $199, it showed $229 profit. Later he invested Rs 1.6 crore, and it showed Rs 2.2 crore profit. On April 5, when he tried to withdraw money, the transaction was rejected.

On enquiring with UBS Coin Exchange customer care, he was told that two illegal transactions of $36,000 had been carried out on his trading account. He later learnt that the USB Coin Exchange was a fake, on enquiring with Binance.

Crypto exchange Binance recently said that it has allocated another $1 billion for its industry recovery initiative, thereby increasing the size of the fund to over $2 billion. The additional allocation was announced by Binance CEO Changpeng "CZ" Zhao on Friday.

Also Read: 'Never seen such a complete failure of corporate controls': New FTX CEO slams Sam Bankman-Fried

Published on: Nov 25, 2022, 4:55 PM IST
Posted by: Smriti Mishra, Nov 25, 2022, 4:46 PM IST