Crypto Con: A Mumbra Consultant's Ordeal

A Mumbra-based consultant was conned out of over Rs 71 lakh by cybercriminals who promised high returns through cryptocurrency investments. Despite transferring substantial funds, the complainant received nothing back. Six people are named in the case, though no arrests have been made yet.

An insurance consultant from Mumbra, Maharashtra, has reportedly fallen prey to a cyber fraud, losing more than Rs 71 lakh in a bogus cryptocurrency investment scheme, authorities revealed on Tuesday.

The incident came to light when the consultant filed a complaint with Mumbra police, stating that six individuals persuaded him to make investments from August 2025 to March 2026 in a company falsely linked to cryptocurrency trading.

Despite the hefty sum being transferred via cash and online payments, the fund was never returned, leading to a case filed under sections related to cheating and breach of trust. As of now, no arrests have been made.

(With inputs from agencies.)