Mumbai Trader Duped of ₹7.5 Lakh in Crypto Investment Scam Promising 45% Monthly Returns
A 30-year-old stock and cryptocurrency trader from Kurla was allegedly defrauded of ₹7.5 lakh by a group of cyber fraudsters operating under the name FLOWX PROTOCOL Pvt. Ltd. The accused lured the victim through a website and Telegram channel, promising returns of up to 45 per cent monthly on USDT cryptocurrency investments. Police have registered a case against eight persons under the Bharatiya Nyaya Sanhita and Information Technology Act.
The trader, originally from Bhopal, discovered the website in February 2026 and joined a Telegram channel in March. He was convinced to invest after attending online seminars where alleged company founders explained the investment scheme. The accused instructed him to hand over cash, claiming it would be converted to USDT and deposited into a Trust Wallet linked to the company account. The Kurla police have launched an investigation into the matter.
