New Delhi, Nov. 10 -- A businessman from Sola in Gujarat was recently cheated of Rs.31 lakh in a crypto scam. He was lured with the promise of high returns through a fake crypto investment website.

This is how it unfolded: He met a woman on Facebook who claimed to work for a crypto trading platform, CoinEx. She convinced him to invest in cryptos to earn a 10% return. Initially, she transferred Rs.9,900 to win his trust. Later, in multiple transactions, he transferred Rs.31 lakh into various bank accounts shared by the woman.

But when he tried to withdraw the money, he was told to invest more. He later discovered that the website he was using was a clone of the CoinEx platform. This is quite an unusual occurrence, but to avoid this from ...