IIT PhD scholar conned of Rs 1 lakh in crypto investment

CHENNAI: A PhD student from IIT has lodged a complaint saying that an online fraudster cheated him to the tune of Rs. 1 lakh after promising heavy return by investing in crypto.

The 26-year-old student, a native of Jharkhand, in his complaint at the Kotturpuram police station, said that he received a message/ link on his mobile phone about the possibility of getting a return to the tune of 40 per cent on investment in cryptocurrencies.

He was included in a group and his investment of Rs.1000 was returned as 1400.

Convinced about the investment scheme, the PhD student then invested Rs.1 lakh hoping to get a 40 per cent return on that as well.

“As I have not received the promised return and the investment of Rs.1 lakh was also not returned, I seek help from the police to get me the money back,” he said in his complaint.