A shocking example of online fraud has come to light in Bengaluru, as a local man was swindled out of ₹42.62 lakh after joining what he believed was a legitimate trading group on Telegram. This article breaks down the details of the scam, explains how it played out, and highlights what you must know to avoid falling victim. The focus keyword Telegram crypto group scam appears throughout for clarity and SEO relevance.
What happened in the case of the Telegram crypto group scam
According to a report by NDTV: a 45-year-old Bengaluru resident named Shakthivel E was contacted via Instagram, then added to a Telegram group led by someone identifying themselves as “Ashutosh Sharma”. He was lured with a promise: engage in trading on the Ethereum / USD pair with a 15% commission on earnings. ndtv
Initially, small payments appeared to yield returns, giving the victim confidence. Eventually, the “platform” showed 138,687.22 USDT in his wallet (equivalent to several lakhs). However, on attempting to withdraw, he was told his bank details were incorrect and asked to pay an additional ₹4 lakh in “late fees”, “USD-INR conversion charges” and other bogus taxes. Desperate to unlock his funds, he borrowed from friends and finance apps – transferring in total ₹42,62,081 between July 3 and August 1. In the end, he could withdraw nothing.
The Bengaluru police are now investigating, verifying wallet addresses, phone numbers and the domain used.
Why this Telegram crypto group scam worked
1. Trust through social media & group identity
The victim was first contacted on Instagram, then coaxed into a Telegram group via someone claiming expertise. That gave the scam a sense of legitimacy.
2. Showing fake profits to lure more investment
The early “returns” small amounts tricked him into believing the scheme worked—classic technique in so-called recovery scams.
3. Demand for additional “fees” to release funds
When the victim tried to withdraw, the scammers introduced new hurdles: incorrect bank details, conversion charges, tax fees. This kept the victim paying more.
4. Borrowing to feed the scam
Once emotionally and financially committed, the victim borrowed from personal and formal channels. This amplifies loss.
5. Platform and jurisdiction issues
The “wallet” was in USDT, there was a domain for “trading” and the entire setup was likely offshore, making legal recourse difficult.
Lessons from this Telegram crypto group scam
- Never trust unsolicited invites to Telegram/WhatsApp groups promising high returns.
- Always verify credentials of any “advisor” or group admin. Legitimate trading platforms don’t add you in groups randomly.
- If you must invest, use regulated exchanges — controlled by recognised financial regulators (SEBI, etc.).
- Be wary of withdrawal blocks: If you cannot withdraw or are asked for extra fees, it’s likely a scam.
- Avoid going deeper after initial losses: “Chasing losses” often worsens the situation.
- Keep documentation and report early: Screenshots, transaction IDs help if you file a complaint.
The wider context of crypto-fraud in India
Scams involving crypto and social-media groups are rising rapidly. The regulatory framework is still catching up in India. Fraudsters exploit the anonymity of Telegram and other encrypted-chat apps to lure victims. In recent days, more cases have surfaced in Bengaluru alone.
What to do now if you suspect you’ve been scammed
- Lodge a complaint immediately with your local cyber-crime police station.
- Freeze any bank accounts tied to the suspicious transfers (if possible).
- Notify your bank about the fraud and ask if a recall is possible.
- Report the incident to the Cyber Crime Coordination Centre (Four Tier) or other appropriate national portals.
- Do not make further payments in hopes of recovery—fraudsters often use “payment to recover funds” as the next trap.
Why this matters for everyday users
Understanding the mechanics of a Telegram crypto group scam isn’t just for big investors—it’s for any mobile-user who might be tempted by high-returns offers. With crypto hype, many people let hope override caution. This case underscores the danger: even experienced people can be trapped by social engineering plus financial pressure.
Conclusion
The ₹42.62 lakh loss by the Bengaluru man is a stark reminder that Telegram crypto group scams are real, prevalent and ruthless. The story shows how easily trust can be exploited, and how difficult it becomes to recover money once you’re trapped. Stay vigilant, double-check offers, and treat claims of “guaranteed high returns” with extreme scepticism.
