Harshik Mukeshbhai Patel has been apprehended by authorities in Chandkheda, located in Gujarat’s Gandhinagar district. Following a court order, Patel was transferred to Kolkata, where he is currently in police custody pending further investigation.
The arrest stems from a cybercrime case registered on September 15, 2023, at the Bidhannagar Cyber Crime Police Station. The complaint was filed by Aurobinda Maji, a 34-year-old resident of Kolkata, who reported being defrauded by a fraudulent cryptocurrency investment scheme.
According to Majhi’s complaint, he was lured into investing through a fake cryptocurrency platform that promised extremely high returns. The platform, which mimicked legitimate cryptocurrency trading websites and wallets, allowed users to deposit funds and watch as they earned fictitious returns – a common tactic used by scammers to gain trust and incentivize large investments.
Investigators revealed that the fraud involved a network of bank accounts used to siphon off deposited funds. Victims were instructed to diversify their investments across various digital assets, making it more difficult to detect the scam and increasing the criminals’ control over the funds. The platform reportedly promised guaranteed profits ranging from 10% to 25% within just a few days-another hallmark of financial fraud.
Authorities traced a portion of the stolen money-approximately ₹2 lakh (around $2,400) – to an IDFC First Bank account held by Patel. The funds were funneled through a Layer 2 transaction and quickly withdrawn via ATM, suggesting a calculated attempt to cover the trail.
During Patel’s arrest, law enforcement officers confiscated several undisclosed items believed to be connected to the illicit financial activity. A senior official from the Bidhannagar Commissionerate noted that Patel is suspected of being part of a larger network of scammers involved in similar digital fraud schemes. The investigation remains ongoing as authorities seek to identify other conspirators and trace additional illicit gains.
India has seen a noticeable rise in cybercrimes related to digital assets in recent months. In a separate incident, a man lost approximately ₹1.67 crore (roughly $200,000) through a crypto scam conducted over WhatsApp. The fraud began when the victim was approached by a woman posing as a prospective bride on a matrimonial site. Claiming to work for a crypto trading firm in Singapore, she encouraged him to invest.
Initially, the victim invested a small amount-about $583-and quickly saw an apparent profit of $100. Enticed by the return, he continued transferring larger sums via multiple bank and UPI transactions. “After my first deposit, the app showed a profit of ₹8,300. Encouraged by the returns, I kept investing more,” the victim recounted.
