Sagar Crypto Fraud: Woman Posing as Bengaluru CEO Swindles ₹22 Lakh via Bitcoin Investment Scam

Sagar, Madhya Pradesh: In a chilling reminder of the rising tide of cybercrime, a 35-year-old man from the Motinagar area of Sagar has been defrauded of ₹22 lakh. The scam, orchestrated through social media, involved a sophisticated “Honey Trap” combined with a fraudulent cryptocurrency investment scheme.

The Hook: A High-Profile Identity on Social Media

The incident began in April 2025 when the victim received a friend request on Facebook Messenger from a woman identifying herself as Adhchita Rajput. To build instant credibility, she claimed to be the Owner and CEO of a prominent firm called ‘SRS Clothing’ based in Bengaluru.

As their conversation shifted to WhatsApp, the suspect began weaving a web of lies. She portrayed herself as a highly successful professional who had amassed immense wealth through Bitcoin and Cryptocurrency trading over the last four years.

The “Expert” Pedigree and Fake Portfolios

To eliminate any doubt, the fraudster claimed a prestigious family background in finance. She told the victim that her uncle had served as a Director at JP Morgan Bank in the USA for 23 years and now ran a private investment firm.

She shared screenshots of a fake digital portfolio showing a balance of approximately 1.2 million USDT (equivalent to ₹12 Crore). She promised the victim “insider tips” and “accurate market signals” from her uncle’s research team, guaranteeing that loss was impossible.

The Trap: The ‘Introductory Bonus’ Scam

Once the victim was convinced of the potential for easy wealth, the woman lured him into a time-sensitive trap. She informed him of a special promotional offer on a trading exchange:

• The Bait: If he deposited 20,000 USDT (approx. ₹20 Lakh) between May 8th and May 16th, he would receive a bonus of 6,000 USDT (approx. ₹6 Lakh).

• The Hook: Driven by the lure of a 30% instant profit, the victim managed to arrange and transfer a total of ₹22 lakh into the accounts provided by the woman.

The Disappearance

As soon as the final transaction was confirmed, the “CEO” vanished. She blocked the victim’s number, deleted her social media profiles, and cut off all communication. Realizing he had been duped, the victim approached the Motinagar Police Station to lodge a formal complaint.

Police Investigation and Expert Advice

Jaswant Singh Rajput, Station House Officer (SHO) of Motinagar, stated that a case of fraud has been registered. “We are currently analyzing the bank account details provided by the victim and tracking the digital footprints of the accused. The investigation is in its primary stage,” he added.

Cybersecurity experts warn citizens against:

1. Identity Deception: Fraudsters often use stolen photos and high-profile titles (CEO, Director, Doctor) to gain trust.

2. Unrealistic Returns: Any platform promising “guaranteed profits” or “bonuses” on crypto deposits is likely a scam.

3. Third-party Apps: Never download investment apps or transfer money based on links sent by strangers on WhatsApp.

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