As a seasoned investor with decades of experience under my belt, I can’t help but feel a profound sense of disillusionment and concern when I hear about incidents like this digital arrest case. Having seen the incredible potential that cryptocurrencies hold for transforming our financial landscape, it’s heart-wrenching to see such a dark side to this brave new world.
A senior citizen residing in Mumbai, India, was swindled out of 10 lakh rupees (equivalent to 1 Million INR) in a digital extortion case, which is a form of fraud where the perpetrators pose as law enforcement officials and coerce victims into transferring money, frequently converting it into cryptocurrencies.
As reported by authorities, Chandrakant M – a retired individual residing in Hong Kong with his son – had recently traveled to Mumbai. The suspect allegedly called him, pretending to be from the Central Bureau of Investigation (CBI). This group then fabricated charges against Chandrakant, claiming he was implicated in human trafficking and money laundering schemes.
The accused kept the victim under constant digital surveillance via round-the-clock video calls, effectively confining him without any opportunity for assistance or departure from the house.
As reported by the police, the alleged perpetrators compelled the victim to transfer a sum of 10 lakh rupees through RTGS under the guise of an investigation. In recent times, cases involving “Digital Arrests” have been making headlines in India. Here, the accused pose as law enforcement officers and trick victims into staying connected on video calls for extended periods over several days. This constant connection prevents them from seeking assistance or help from anyone else.
Lately, authorities in Rajasthan apprehended a gang of fifteen suspects implicated in a digital arrest fraud scheme. They would transform the money they extorted into cryptocurrencies instead.
As per the reports, the victim has allegedly received a WhatsApp video call from an unrecognized number following his arrival in India from Hong Kong. The caller, who claimed to be from the Central Bureau of Investigation (CBI), instilled fear in the elderly man by making false accusations about his activities such as money laundering and human trafficking. The scammer went on to say that the victim was under house arrest and that his phone would be deactivated within the next two hours.
A complaint was lodged against the alleged swindler on December 9, at the police station located in Santacruz. According to the ongoing investigation, Chandrakant M is a retired individual who resides with his son in Hong Kong. However, due to the harsh cold weather in his foreign residence, he moved back to Mumbai and has been living independently in his Santacruz home ever since.
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2024-12-21 16:20