CHANDIGARH: A major cryptocurrency investment fraud has been exposed where a city resident was allegedly cheated of around $40,000 (approximately ₹33 lakh). In this case, the Cyber Crime Branch has arrested a 29-year-old man, Jitendra Singh, a resident of Jhunjhunu district in Rajasthan. The accused has been charged with duping investors through a fake digital investment platform by promising high returns. The action was taken based on an FIR registered on February 14, 2026.
Victim Lured Through Fake High-Return Scheme
The case began after a complaint was filed by Narendra Ahlawat, a resident of Sector 44, Chandigarh, who operates a digital platform called “Track With Market.” According to the complaint, between October and November 2025, he was contacted by unknown individuals who introduced themselves as representatives of a so-called international investment company named TRD-NFT. The accused lured him with promises of extremely attractive and guaranteed profits through crypto trading.
Initially, the fraudsters gained the victim’s trust by showing small profits through a fake trading interface. The fabricated platform displayed virtual earnings, creating an illusion of legitimate and profitable investment. Gradually, the victim was pressured into investing larger amounts, eventually transferring funds amounting to nearly ₹33 lakh.
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When the complainant attempted to withdraw his funds, the accused introduced multiple excuses such as technical errors, tax requirements, and processing fees. Under continuous pressure, the victim was forced to make additional payments. Shortly after this, the entire network suddenly went offline, and the invested money was never returned.
Fake Profits, Withdrawal Barriers and Sudden Disappearance
Considering the seriousness of the case, the Cyber Crime Branch initiated a detailed investigation by analyzing digital transactions, bank account details, and technical evidence. Based on the leads gathered, the police team traced the accused to Jhunjhunu in Rajasthan, where Jitendra Singh was arrested.
Preliminary investigation suggests that the gang operated in a highly organized manner by creating fake cryptocurrency investment platforms and targeting victims across different parts of the country. The scammers used social media and messaging applications to contact potential investors and directed them to fraudulent websites and dashboards that mimicked real trading platforms.
Cyber experts note that such gangs exploit “digital trust” by first showing small profits to build confidence and then convincing victims to invest larger sums. Once the money is transferred, the entire network disappears, making recovery of funds extremely difficult.
Police Trace Accused to Rajasthan
Authorities have warned that investing in unverified crypto or online platforms carries significant risks. Experts emphasize that greed and haste often lead to major financial losses, especially in cases involving unrealistic profit guarantees.
In the present case, the total amount defrauded is $40,000, which is approximately ₹33 lakh in Indian currency. The loss has caused a severe financial setback to the victim. Investigating agencies are now working to identify other members of the network and determine the full scale of its operations across different states.
With rising cases of cyber fraud, this incident once again highlights the importance of caution and awareness in digital investments, where vigilance remains the strongest safeguard against such scams.
