In just 48 hours, Kolkata’s investment losses surpassed 1.2 crore rupees.
Kolkata According to Kolkata Police, between August 2 and August 4, six residents of Kolkata lost a total of more than ₹1.2 crore as a result of different online investment scams.
August 5, 2025, Kolkata According to Kolkata Police, between August 2 and August 4, six residents of Kolkata lost a total of more than ₹1.2 crore as a result of different online investment scams.
The scams involved phony cryptocurrency schemes that promised large returns and unsolicited invites to WhatsApp investment groups. After joining such a group, Rahul Kumar Poddar of Narayanpur was defrauded of ₹10 lakh. Another resident of Keshab Chandra Sen Street, Suraj Yadav, lost ₹15 lakh as a result of a crypto-based marketing scheme that was planned by Shauryadeep Ray, a fraudster. Scammers impersonating representatives of an asset-management company defrauded a Behala woman out of ₹23.8 lakh. Similar scams cost three more victims a total of ₹53.8 lakh.
The syndicate responsible for these scams is being investigated by Kolkata Police officials. Digital forensics and financial transaction tracking are being used to locate the larger network and retrieve pilfered money.
Authorities have warned the public to be extremely cautious when they are approached about investment opportunities through messaging apps or social media. They advise staying away from schemes that promise astronomical profits and only using SEBI-registered advisors or verified platforms.
Background: In West Bengal and throughout India, this incident is a part of a broader trend. Only 15% of the approximately ₹100 crore that Kolkata residents were defrauded of in the last year due to a variety of cybercrimes, including investment frauds, KYC scams, OTP scams, digital arrest tactics, and ticketing scams, was recovered.
