Ahmedabad: A 36-year-old medicine trader from Rajasthan has approached City Crime Branch, alleging that he was cheated of Rs 47.8 lakh in a cryptocurrency investment scheme after being promised USDT in return for his investment.According to the complaint, the trader was introduced to a man through a friend in April this year and was told that investing in cryptocurrency could yield substantial returns. After several discussions, he agreed to invest in USDT through contacts provided by the accused.On May 6, he allegedly transferred Rs 95,600 via PhonePe to a person as instructed. He later checked the cryptocurrency application and found that 999 USDT had been credited to his account, which increased his confidence in the arrangement.The next day, he was allegedly asked to arrange Rs 23.9 lakh in exchange for 25,000 USDT. The complainant arranged the funds through an angadia firm in Mumbai, from where the money was transferred to a person in Ahmedabad. He claimed that the corresponding 25,000 USDT was subsequently reflected in his crypto wallet.Encouraged by the earlier transactions, the trader allegedly transferred another Rs 47.8 lakh through an angadia firm later in May. However, no USDT was credited to his account against this payment.When he contacted the person who had facilitated the investment, he was allegedly told that there was a problem with the crypto wallet and that the issue would be resolved within a day or two. The complainant alleged that he continued to receive similar assurances for several days before the accused stopped responding to his calls.He later contacted the recipient of the Rs 47.8 lakh, who allegedly told him that the money had been collected on the instructions of another associate and handed over to a third person.After failing to recover the money, the trader on Thursday lodged a complaint with City Crime Branch against three persons residing in Isanpur, Gandhinagar and Naranpura, alleging that they had cheated him in the cryptocurrency investment deal.
