A 31-year-old man from Bengaluru Cantonment area lost about ₹24 lakh in a cryptocurrency scam that unfolded over 12 transactions. The fraud took place between 12 July – 13 September 2025.
The scam began after the victim connected with a woman on a matrimonial website. The woman, using the name “Tharani Srinivasan” and a UK phone number, pretended to be a London-based professional with roots in Tamil Nadu.
Over video calls and messages she built trust, then convinced him to invest in two fake crypto platforms — m.bitcoin-on.com and m.bitcoin-av.com — promising large returns.
How the Fraud Escalated
- Initially, the scammer, along with accomplices posing as crypto advisors, showed him fake profits to build confidence.
- When the man attempted to withdraw funds, he was blocked, with the fraudsters demanding more money under various pretexts.
- Emotional manipulation played a role — promises of a shared future were used to increase trust and push investments.
- Eventually, the scammer cut off communication. That’s when the man realized he had been conned. He then filed a complaint with Bengaluru police under the Information Technology Act and section 318 of the Bharatiya Nyaya Sanhita for cheating. The Times of India
Implications & Key Takeaways
- Use of Matrimonial / Social Platforms: Scammers are increasingly using matrimonial sites and social relationships as pretense to initiate crypto frauds.
- Fake Crypto Platforms: Fraudsters create or mimic crypto investment platforms/websites, show fake profits, then block withdrawals — classic “advance fee” or “fake trading” scams.
- Emotional & Psychological Manipulation: Trust, promise of future togetherness, and emotional bonding are leveraged to make victims invest more.
- Regulatory & Legal Response: Filing under cybercrime laws (IT Act, etc.) is essential for any chance at recovery or investigation. Authorities will try to trace the money, but recovery is often difficult.
What to Watch Next
- Whether the police or cybercrime unit can trace the fake websites, blockchain trails, bank accounts, and the scammer’s identity.
- If there will be any recovery of funds. Often, partial or none.
- Possible warnings or advisories to the public to be wary of crypto investment offers via personal relationships, matrimonial sites, etc.
- Whether platforms used (m.bitcoin-on.com, etc.) are shut down or taken offline by authorities.
This case is a stark reminder: even educated, alert people can fall prey to crypto investment frauds, especially when relationships (even virtual/emotional ones) are used to build trust. Always verify crypto platforms, avoid transferring money to unknown wallets, be especially skeptical of unsolicited investment offers claiming guaranteed returns.
