Thane, July 6: A 60-year-old man lost Rs 30.80 lakh in online cryptocurrency investment fraud, police said on Saturday. Police have registered an FIR against two persons and are conducting investigations. "The complainant was contacted by two persons on WhatsApp in June who inducted him a member of a group assuring him hefty returns for investing in cryptocurrency," a Vartak Nagar police station official said. Investment Frauds in India: Fraudsters Using Facebook, WhatsApp, Telegram, X and Others To Dupe Users To Invest in Crypto and Stocks, Says Report.

Trusting them, the victim invested around Rs 31 lakh. However, as he failed to redeem returns, he contacted the group administrators, who started ignoring him, the official said, adding that nobody has been arrested yet.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)