Senior citizen duped of ₹1.84 crore in online ‘crypto trading’ scam

An Ahmedabad resident has complained to the city cybercrime police after being cheated of ₹1.84 crore in an elaborate online cryptocurrency trading scam that operated through fake investment websites and WhatsApp groups.

According to the FIR registered at the Cyber Crime Police Station, Nagindas Amulakhbhai Valani, a 68-year-old resident of Vastrapur, alleged that he was lured by a person identified as Bhavesh Baglor through a Facebook account named 'Ram Bhaveshbhai' in September 2025.

Valani stated that while browsing Facebook, he came across a profile promoting a so-called “multiple cluster business” claiming high returns through “bank-to-bank transactions”. Curious about the opportunity, Valani contacted the person via the WhatsApp number, who introduced himself as Bhavesh Baglor.

The accused then shared a link to a suspicious website and guided the complainant to create an account using his Aadhaar details, email, and password. Valani was subsequently added to a WhatsApp group named 'BIG DEAL 554'.

Through repeated communications, the fraudsters convinced Valani to invest in various “contract schemes” allegedly offering lucrative returns in USDT (a stable cryptocurrency). The complainant was first asked to deposit ₹5 lakh in an ICICI Bank account, after which the amount reflected as 'profit' in his online wallet a tactic that further cemented his trust.

Between September 29 and October 8, 2025, Valani transferred multiple payments totalling ₹1.84 cr to different bank accounts all allegedly linked to the scammers.

Each time, the website displayed inflated profits, prompting fresh demands for “service fees” and “tax payments” amounting to 15% of the invested or profit amount. When Valani attempted to withdraw his funds, the fraudsters stopped responding and instead demanded additional deposits.

Realising he had been defrauded, Valani contacted the national cyber helpline (1930) on October 14, 2025 and lodged a formal complaint with the Cyber Crime Police Station, Ahmedabad City.

A case has been booked under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act for cheating, forgery, and criminal conspiracy. A senior cybercrime official said, “This is a classic example of how scammers use social media and crypto-trading jargon to target elderly and financially stable individuals. The victims are shown fake profits to keep them investing more before they are completely defrauded.”