A 41-year-old immigration officer posted at the Malaysian consulate in Mumbai has reported losses of roughly Rs 79 lakh after falling victim to a cryptocurrency investment scam, according to the police complaint. The victim says the fraud unfolded through a WhatsApp group that began in January 2024 and involved repeated transfers to multiple bank accounts before communications with the promoters were cut off. https://www.ndtv.com/india-news/immigration-officer-loses-rs-79-lakh-in-cryptocurrency-investment-fraud-11093425

Timeline and mechanics
The officer says they joined a WhatsApp group in January 2024 where members circulated what appeared to be share- and trade-related information. Encouraged by that social proof, the victim transferred roughly Rs 78.85 lakh across several bank accounts over a period of time. When they attempted to withdraw funds the operator demanded an additional Rs 18 lakh as a “fee” to release the money; upon refusal, all contact was severed.

Reporting delay and legal action
The complaint was filed about a year and a half after the initial contacts. The victim cited mental stress and fear of social stigma as reasons for the delayed report—factors that commonly impede timely law-enforcement responses and preserve scammer advantages. Police have registered a case naming 10 unidentified persons under charges that include conspiracy, cheating and relevant provisions of IT law.

Patterns and investigative focus
This case follows a familiar pattern: recruitment via messaging groups, the mixture of plausible trading tips with pressure to move funds, use of multiple bank accounts to layer transactions, and an extortionate “withdrawal fee” when victims seek to exit. Investigators are concentrating on tracing the bank transactions and mapping the account network used to collect funds, which is the primary route to identifying intermediaries and the ultimate beneficiaries.

Why it matters for crypto and online finance
The incident underscores operational risks in peer-led online investment schemes and the limits of informal trust signals (group messages, screenshots, and testimonial posts). Digital-asset markets and Web3 products that are transparent about tokenomics, custody, and withdrawal mechanics reduce attack surface compared with closed, chat-driven schemes that rely on opaque fund flows.