E-Paper
Woman loses ₹79 lakh in cryptocurrency fraud orchestrated by her Facebook friend
A woman from Goregaon, Mumbai, lost ₹79 lakh in a cryptocurrency scam orchestrated by her Facebook friend, Zuber Shamshad Khan.
A 53-year-old woman was allegedly cheated of ₹79 lakh over the last four-and-a-half years by her Facebook 'friend' who lured her into investing in a cryptocurrency scheme, police said on Saturday.
"The accused, identified as Zuber Shamshad Khan, allegedly lured the woman, a resident of Goregaon in Mumbai, into investing in a cryptocurrency scheme, promising high returns," a Kharghar police station official in Navi Mumbai said.
The woman invested ₹78,82,684 between October 2020 and March 2025 in multiple transactions, he said.
The fraud came to light when the victim attempted to retrieve her invested capital.
"When she sought a refund of the money, the accused refused to oblige her," police said.
An FIR was registered against Khan on May 15 under sections 318(4) (Cheating) of the Bharatiya Nyay Sanhita and relevant sections of the Information Technology Act.
No arrest has been made to date.
