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Indian Seniors Targeted in Crypto Scams, Losing Over $386,000

Indian Seniors Targeted in Crypto Scams, Losing Over $386,000

Author:

Global Cryptocurrency

Published:

2026-01-04 09:40:02

14

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BTCCSquare news:

Elderly Indian citizens have fallen victim to fraudulent cryptocurrency investment schemes, with losses exceeding Rs. 3.21 crore ($386,000). Police reports indicate scammers exploited victims' limited understanding of digital assets through Telegram groups and fake arbitrage promises.

One victim allegedly lost Rs. 2.58 crore ($310,000) after being instructed to download a wallet called Base and share sensitive financial information. Another surrendered Rs. 63.15 lakh ($76,000) to similar tactics. The schemes preyed on retirees seeking supplemental income through what appeared to be legitimate crypto opportunities.

By:

Malaysian Physician Loses $130K in Crypto Investment Scam

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