The FBI’s 2023 Cryptocurrency Fraud Report reveals a staggering $5.6 billion loss for Americans due to cryptocurrency scams, highlighting the growing sophistication of cybercriminals. Investment fraud, particularly through social engineering, dominates the landscape, while labor trafficking connected to scams emerges as a concerning trend.
An executive in Mira Road, Mumbai, has fallen victim to investment fraud and lost Rs 31 lakh. The accused, a woman, lured him with promises of extra part-time income through share trading. The man invested around Rs 31 lakh but was unable to withdraw his profits. The fraudsters stopped responding to his calls and messages, prompting him to approach the Nayanagar police station. Investigation is underway under the Indian Penal Code and IT Act.
