Ahmedabad trader duped of ₹15 lakh in crypto scam, FIR registered

The Ahmedabad cybercrime police have registered a case against an unidentified man for allegedly cheating a local trader of over ₹15 lakh in the name of cryptocurrency transactions. The complainant told police that the accused, who identified himself as Jay Patel, initially gained his trust by transferring a small amount of crypto tokens before allegedly defrauding him through larger payments.

According to the FIR, the complainant, Mane, 22, a resident of Hirawadi, Krishnanagar, works in crypto and forex trading from home. On September 12, he contacted a man who introduced himself as Jay Patel, regarding the purchase of USDT (Tether) tokens. Patel first transferred 328 USDT tokens worth ₹30,000 to the complainant’s account, which convinced him of his credibility.

Thereafter, Patel allegedly demanded larger payments for further USDT purchases. The complainant transferred ₹12.01 lakh via RTGS to an account under the name Prajapati Exports, and later another ₹3 lakh through an Angadiya firm in Surat, on Patel’s instructions. In total, ₹15.01 lakh was paid.

However, when the complainant checked his trading account, no further USDT tokens were credited. Patel allegedly stopped answering calls and later switched off his phone, while occasionally sending false WhatsApp assurances that the tokens would arrive.

The FIR states that the complainant’s brother, Samirbhai Patel, advised him to approach the cybercrime helpline 1930, where he was given an acknowledgement number before formally registering a complaint with the police.

Police have booked the accused under relevant provisions of cheating and criminal breach of trust. Investigating officers said efforts are underway to trace the accused, who remains at large.

A senior officer said, “Fraudsters often use small initial payments to gain trust before demanding large transfers. Citizens are urged to verify all financial dealings on regulated platforms and avoid unverified crypto transactions.”