Man Held for Tricking People in Name of Doubling Money Through Cryptocurrency From Kolkata

A man has been arrested from Kolkata for allegedly defrauding people of money under the guise of cryptocurrencies, Mumbai police officials said on Saturday. Accused Hamza Anwar tricked a Mumbai resident into making an online payment of Rs 75,000 by claiming he could double investors' funds within 30 to 35 days.

The investigation found that Anwar had used social media influencers to lure potential investors. The police captured him with technical evidence and recovered the mobile phone and SIM card used to commit the crime.

At least three social media influencers who pitched to Anwar for commission are also under investigation. The official added that Anwar was arrested under Section 420 (fraud) of the Indian Penal Code and the Information Technology Act.

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