Kharghar Woman Loses Rs 78.82 Lakh in Cryptocurrency Fraud

A 53-year-old woman from Kharghar lost Rs 78.82 lakh after being tricked by a cyber fraudster who promised high returns on cryptocurrency investments through a Facebook advertisement.

The woman came across the ad in 2020, posted by a man named Zuber Khan. He claimed people could earn huge profits through online crypto trading. Interested by the offer, the woman contacted Khan, who asked her to download cryptocurrency apps like The Champ Coin and Binance. He then told her to invest in different crypto tokens.

Between October 3, 2020, and March 25, 2025, the woman transferred Rs 78.82 lakh to Khan’s bank account. But in return, she received only Rs 3.51 lakh. When she asked for the rest of her money, Khan allegedly demanded another Rs 26.70 lakh to release the remaining amount.

Realizing she had been cheated, the woman filed a complaint at the Kharghar Police Station. Based on her complaint, the police have registered a case under sections of cheating and relevant sections of the IT Act.

“We have started investigating the money trail and are trying to find the accused and recover the lost money,” said an officer from the Kharghar police.

Police have urged people to be cautious while investing online, especially in cryptocurrencies.