Noida man loses ₹62L in crypto scam

A 46-year-old man was scammed of ₹62.43 lakh in an online trading fraud by a woman posing as a Chinese contact, police say.

A 46-year-old man was allegedly duped of ₹62.43 lakh in an online trading fraud by miscreants posing as international contacts, police said on Friday.

Noida man loses ₹62L in crypto scam

The complainant Ramjeet Singh, a resident of Raheda village in Greater Noida, came in contact with a woman named Miyongli on a social media platform, who claimed to be from China.

The woman initially claimed to be 36 years old and a native of China. On September 26, 2024, she informed Singh that she worked for an online store, earning $1,000 daily by completing orders.

As per the FIR filed at the Cyber Crime police station in Noida, the woman explained a process wherein users make money in cryptocurrency payments. In return, the store wallet would reflect the order value with an added 20% profit. She further claimed that referrers earned 10% commission on each order.

After a month, Singh said he got persuaded and created an account on the platform the woman had suggested. He also made payments with the platform.

Later, he was directed to a second platform, allegedly another version of the same store. Between October 20, 2024 and March 22, 2025, Singh transferred substantial amounts to various bank accounts in West Bengal, Chhattisgarh, Telangana, and Rajasthan, and UPI addresses provided by the fraudsters, he informed police.

Singh, in his complaint, claimed that he completed orders worth $72,118 (equivalent to ₹6,243,500), expecting returns through the store wallet. However, when he attempted to withdraw the earnings, he was asked to pay additional “taxes” and “processing fees,” amounting to $10,000.

The woman went unreachable after this, he told police.

After he realised the fraud, he first filed a complaint to the National Cybercrime Reporting Portal (NCRP)and has now sought action from the police, stating that the money was borrowed via loans and that he is under severe mental and financial stress.

Based on the complaint, a case has been registered against unknown persons under Section 318(4) and 319(2)- related to cheating, dishonest inducement, and fraudulent acts of Bharatiya Nyaya Sanhita (BNS) and Section 66D of the Information Technology Act, 2008.

“We have registered an FIR based on the victim’s complaint and have begun an investigation. Preliminary findings suggest the use of cryptocurrency platforms and multiple bank accounts across different states. Efforts are underway to trace the beneficiaries and identify the network involved,” said Ranjeet Kumar Singh, SHO, Cyber Crime police station, Noida.