A 23-year-old resident of Chandigarh has allegedly lost more than ₹5.5 lakh in a cryptocurrency investment scam that began with what appeared to be a legitimate online job offer.
According to a local report citing a complaint filed with the Chandigarh Cyber Police, the victim Shubham Kumar Goyal received a Telegram message on May 24 from a woman who identified herself as Kanchan Bansal. Claiming to represent a digital marketing agency, she offered Goyal a remote position executing basic hotel-rating tasks with promised earnings of up to ₹3,500 per day.
The psychological trap: From online tasks to crypto investments
To neutralize skepticism, the operators utilized a psychological grooming script common to contemporary task syndicates. The scammers initially assigned simple online rating tasks and reportedly paid Goyal ₹160 to complete them. After several similar tasks, he was introduced to what was described as a cryptocurrency investment opportunity.
Police said the victim was instructed to make payments through QR codes and multiple bank accounts allegedly linked to cryptocurrency investments. Between May 24 and May 27, he transferred a total of ₹5,50,142 using his own accounts as well as accounts belonging to friends and family members.
The complainant reportedly received only ₹2,000 back from the fraudsters. When he attempted to withdraw additional funds, he was told to follow a withdrawal process. However, his withdrawal request allegedly failed, and he was later informed that his account had been frozen due to an error.
Realising he had been deceived, Goyal approached the cyber police station in Sector 17 and submitted transaction records and other evidence.
Following a preliminary verification of the complaint, Chandigarh Cyber Police registered a case against unidentified individuals. Authorities are currently tracing the financial transactions and examining the bank accounts used in the alleged fraud.
Crypto scams continue to target Indian investors
The case reflects a growing trend in which scammers use messaging platforms such as Telegram and WhatsApp to lure victims through fake job offers, investment schemes, and cryptocurrency trading opportunities.
The Chandigarh incident also follows several similar crypto-related fraud cases reported across India. In May 2026, police in Maharashtra registered a case involving an alleged ₹1.61 crore cryptocurrency investment scam that reportedly affected multiple investors.
Earlier, in October 2025, a resident of Gandhidham, Gujarat, allegedly lost ₹56.47 lakh after being persuaded to join a fake Telegram-based crypto trading group that promised lucrative returns. The victim reportedly transferred funds to fraudsters before losing access to the investment platform.
Collectively, these cases show that syndicates are moving away from standard software exploits. Instead, they are combining human psychology, fake employment profiles, and immediate crypto off-ramps into a singular, highly effective threat vector targeting retail investors nationwide.
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