Bitcoin Scam: Indian Woman Losses Over $54,000 Worth Of Bitcoin




An Indian woman has reportedly suffered a scam in which she lost about 6.5 worth of bitcoins  (about $54,000 approximately).

According to the Times of India, the victim said she invested around 0.4 bitcoins in an unnamed firm which promised 12% monthly returns on investment over seminars in five-star hotels..... that was February 2017. As promised, the woman began to see returns in her bank account which then urged her to invest more money into the scheme.

The woman said that she invested all her savings in the scheme along with friends and family members savings too. After investing again in the company in May 2017, her funds had already matured from her mutual fund policy. The crypto-company however, stopped issuing returns to investors in Indian fiat rupees, instead, they started issuing returns to investors in their own cryptocurrency.

 The woman explained that she asked the crypto-company to return here investment after they had a disagreement over her refusal to receive her pay in tokens.


In October 2017, she said that she was contacted by the company to process the return of her funds. However, for the process to go through, the company asked for her email ID and password registered with the company's website. Not too long after sharing her details, she noticed that her email and bitcoin wallet had been accessed maliciously. Guess thought is that she used the same credentials on both platforms ... and 6.5 bitcoins were stolen in the process.

The Indian police have already launched an investigation into the incident to uncover those behind the scam.

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