Key Highlights
- A Pune techie lost ₹69 lakh in a crypto investment scam after fraudsters used a fake trading app to display over ₹80 lakh in fake profits and block withdrawals.
- In a separate case, a 62-year-old woman was duped of ₹69 lakh in a “digital arrest” scam, where impersonators posing as Telecom Regulatory Authority of India and Crime Branch officials coerced her into transferring her life savings.
- Pune is emerging as a major cyber fraud hotspot, with crypto-linked scams, digital arrest cases, and large-scale schemes collectively contributing to losses worth thousands of crores across the city.
A Pune-based tech professional has lost ₹69 lakh in a cryptocurrency investment scam, underscoring the growing threat of sophisticated cyber fraud targeting even financially aware individuals.
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According to a report by the Times of India, the 48-year-old victim, who works at a reputed firm in the city, was lured into the scheme through an online message containing a suspicious link. After clicking it, he was contacted by individuals posing as cryptocurrency trading experts, who promised high returns on investments through a dedicated trading platform.
Gaining his trust over time, the fraudsters convinced him to download a mobile application and begin investing in cryptocurrencies. While the platform initially showed minimal activity, the scammers persistently urged him to increase his investment, claiming that larger deposits would unlock higher profits.
Over several months, the victim transferred funds in multiple transactions to different bank accounts provided by the accused. The application later began displaying substantial profits, reportedly exceeding ₹80 lakh, reinforcing the illusion of a successful investment.
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However, when he attempted to withdraw his funds, the requests were denied. It was only then that he realized he had fallen victim to a well-orchestrated scam.
The victim initially approached authorities with a complaint, following which a formal case was registered with the Pune cyber police. An investigation is currently underway to identify the perpetrators and trace the flow of the stolen funds.
Same city, another scam
In a separate case, a 62-year-old woman in Pune lost ₹69 lakh to a “digital arrest” scam after fraudsters impersonating officials from the Telecom Regulatory Authority of India (TRAI) and the Crime Branch coerced her into transferring her entire life savings over nearly a month.
According to a report by The Times of India, the fraud began on February 13 when the woman received a call from an unknown number. The caller identified himself as a TRAI official and told the victim that a SIM card had been registered using her Aadhaar details and was allegedly being used for illegal activities, including circulating objectionable content. She was also told that a bank account in her name had been linked to a money laundering case.
As the days went on, the pressure escalated. The fraudsters began posing as Crime Branch officers, warning the woman that a criminal case had already been registered against her and that she could face arrest at any time. The language was authoritative, the follow-ups were persistent, and the intent was clear: keep the victim too scared to verify anything independently.
Forced to transfer savings for ‘verification’
The scammers then told the woman that her bank accounts were under investigation and that she needed to move her funds to a designated account for “verification purposes.” She was promised that the money would be returned once the process was complete.
Fearing immediate arrest and legal consequences, the woman complied. Over the following weeks, she transferred money in phases. By the second week of March, she had moved nearly her entire savings, totalling ₹69 lakh, into accounts controlled by the fraudsters.
When the promised refund did not arrive, the woman tried reaching out to the so-called officials. At that point, the scammers shifted tactics. They told her she needed to obtain a No Objection Certificate (NOC) from her local police station to get her money back.
On March 17, the woman visited the police station along with a family member. Officers informed her that she had been a victim of cyber fraud. A case has since been registered, and the investigation is underway.
Pune’s digital arrest crisis keeps growing
This case is far from an isolated incident. Pune has become one of the most frequently targeted cities in India for digital arrest fraud, and the numbers continue to climb.
Just weeks ago, Pune Cyber Police arrested two suspects in a ₹10.74 crore digital arrest scam that targeted an 82-year-old pensioner on Bhandarkar Road. In that case, investigators found that part of the stolen funds had been converted into cryptocurrency and routed through overseas exchanges linked to handlers in China and Hong Kong. The case was tied to at least 11 cybercrime complaints across the country.
In a separate incident, a 66-year-old Kothrud businessman lost ₹21.63 lakh after being befriended on Facebook by a woman who directed him to a fraudulent cryptocurrency app. The platform initially paid out small amounts in USDT to build trust before blocking withdrawals and demanding a ₹29 lakh “processing charge.”
A recent investigation by Top Coin Daily found that Pune alone has been at the centre of crypto fraud losses exceeding ₹20,000 crore when accounting for the GainBitcoin scam, digital arrest frauds, and smaller investment schemes collectively. The CBI’s arrest of Darwin Labs CTO Ayush Varshney at Mumbai airport earlier this month in connection with the ₹6,000 crore GainBitcoin Ponzi further highlighted the scale of crypto-linked fraud rooted in or connected to the city.
A nationwide pattern
Digital arrest scams have surged across India in 2025 and 2026, with criminals increasingly exploiting the fear of law enforcement among elderly citizens. The Ministry of Home Affairs informed the Supreme Court that such scams have cost Indian citizens roughly ₹3,000 crore.
According to official data presented in Parliament, over 24 lakh cybercrime complaints were filed on the National Cyber Crime Reporting Portal in 2025, with reported fraud losses amounting to ₹22,495 crore.
The Indian government’s PRAHAAR counter-terrorism strategy, released in February 2026, specifically flagged the growing use of crypto wallets by criminal networks. A dedicated darknet and cryptocurrency task force has been set up under the Multi-Agency Centre, and the CBI has separately registered a ₹350 crore crypto Ponzi case and conducted searches at 10 locations across seven states.
Maharashtra Chief Minister Devendra Fadnavis has also announced the establishment of a Centre of Excellence in Digital Forensics in Pune to support investigations into crypto-related fraud, though many of the city’s pending cases continue to move slowly.
Cybercrime experts, including former IPS officer Prof. Triveni Singh, have repeatedly warned that digital arrest scams are designed to exploit psychological vulnerabilities. No legitimate government agency or law enforcement body in India ever asks citizens to transfer money over phone calls or online platforms for verification, and no concept of “digital arrest” exists under Indian law.
Police continue to advise citizens to verify any suspicious claims through official channels and to report suspected fraud immediately through the national cyber helpline at 1930 or via cybercrime.gov.in.
Also Read: India’s Crypto Tax Deadline is Tomorrow—Last 24 Hours Could Save You Lakhs
