Connect with us


Indian Fashion Designer Scammed of Rs 1.1 lakh via Cryptocurrency




VOC, Voice of Crypto, Scam, crypto scams

Key Insights:

  • The Instagram account was hacked and used to orchestrate fraud. 
  • A fashion designer loses money via cyber fraud. 
  • The fashion designer lost Rupees 1.1 lakh via cryptocurrency.

In Mumbai, a female fashion designer was scammed by an unscrupulous individual through a string of activities. It began when her friend’s Instagram account was hacked and then used by the fraudster to send a message. 

In the message directed to the fashion designer, the scammer requested that she invest in crypto.

The message from her friend’s Instagram account stated that “he had invested Rs 50,000 in cryptocurrency and made Rs 4.90 lakh profit from it. He asked her to invest money in cryptocurrency and install a mobile app called ‘BINANCE’.

The unwitting 36-year-old fashion stylist transferred Rs 1.10 lakh, thinking that she was interacting with her friend. 

Later on, she requested that the scammer return the money, but they refused and decided to hack the fashion designer’s Instagram account to cover their track. 

The victim feared that her account would be used to scam her clients, friends, and others and decided it was wise to inform the police of the happenings. She reported the matter to the Juhu police station. 


Once she decided to follow the instructions sent to her, she was sent a link requesting that she invested Rs 30,000. An email stating that she had been rewarded with Rs 5,500 was sent to her, then she was asked to withdraw it. Before she was permitted, she was told she had to pay Rs 80,000, which was refundable. She ended up spending the sum of Rs 1.10 lakh but was not given the profit.  

When she realized that she had been defrauded, she contacted the phone number that was attached to the email. The scammer promised to refund her money if she decided to verify her identity by changing her profile information, email address, and number. She also ended up losing her Instagram account to the scammer.  

Rose Nnamdi is a crypto content writer that loves drafting content on cryptocurrencies and innovative platforms building on blockchain technology.