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Man loses Rs 1.05 cr in the name of crypto currency trading

A case has been registered under Sections 66(D), 66(C) of the IT Act and IPC Sections 420 and 417.
Last Updated : 29 May 2024, 14:17 IST
Last Updated : 29 May 2024, 14:17 IST

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Mangaluru: A 43-year-old Bengaluru businessman, hailing from Ichalampady in Kadaba taluk of Dakshina Kannada district, lost over Rs 1.05 crore while allegedly attempting to trade in Crypto currency.

According to the complaint filed at a Dakshina Kannada Cyber Economic and Narcotics Crime Police Station, the man, named P G Saji, was asked by a user named Ayaka Watanabe on Telegram to download Binance App and Defi App. He was asked to do so to help invest in crypto currency.

Accordingly, he downloaded the app from the App store of his iPhone. Later, he was asked to created wallets on both apps, which he did using his mobile number and e-mail id.

Once done, an unknown person informed him about trading and exchange using a website and token address. Accordingly, he transferred Rs 1,05,79,711 from his two bank accounts and lost the money in the name of crypto currency trading.

A case has been registered under Sections 66(D),66(C) of the IT Act and IPC Sections 420 and 417.

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Published 29 May 2024, 14:17 IST

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