One of my hubby's cousin called us last evening. He was in need of some money, we are always happy to help in the family. Hubby checked with him of what is the matter since the money he asked for was a big amount and he wanted it urgently. On checking he told us that he had to give it to one of the financial agent who is investing in Cryptos and the timeline was to give the money by end of the day. We keep hearing these kind of stories on and off and we told him that something is not right and this seems to be fishy.
On checking more we got to know that our cousin had already given that agent around 25k INR as a down payment asked by that agent and now that person was asking for 2 Lakhs more to invest in a certain scheme in cryptos. We told our cousin that there are no such schemes in cryptos and this guy seems to be a fraud, he was not willing to believe us because he felt that guy was genuine. That agent had made high claims of returns on investments and hyped up the talk. There was a Telegram group in which he was doing all these interactions.
We asked our cousin to tell the agent that he would like to speak with him and know more about this investment scheme and know where exactly he is investing the money. All the interactions were only happening on Telegram messages. When our cousin sent that message for a long time there was no response, so he sent a reminder again and now this agent goes ahead and blocks him and removes him from the group.
It was foolish of our cousin to not take the contact number and not talk personally as a basic step in the first place and just rely on someone who is only contacting on chat. My cousin mentioned that there were some people on the group who were raving about their returns. This is a trap, these frauds create such groups with their own gang and then they do these tricks to attract people. When other people validate they feel it's genuine and gain confidence.
After this our cousin realized that this was a fraud, he lost his 25K but he got saved from losing more money. If he had that money by himself and paid that guy then he would have lost all of it. Thank God he did not have that money and he reached out to us for help where we could identify this fraud.
There are so many people who still do not have knowledge about the Crypto world but yes they do see the price going up and get lured to make money, where they get caught up in these kind of frauds.
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