A crypto scam has surfaced in Yamunanagar, Haryana, where dozens of investors lost nearly ₹6.82 crore to a fake firm named BFX Pro. The scheme promised fixed monthly returns and claimed links to global operations to gain trust.
According to a report, the complaint names eight accused individuals linked to the operation. These include Priyashu Dutta, Ramesh Dutta, Sandeep Dutta, Diksha Dutta, Amit Kheda, Hemant Bhatnagar, Harnek Singh, and Vinay Gupta. Investigators are examining their roles and possible links to other fraud cases.
Victims said the operators presented the firm as government-registered. They also claimed to run international trading operations. The pitch focused on steady monthly returns of 8–10% and low risk.
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After joining up, users were asked to download an app called Meta BFX Pro, which displayed steady profits consistently. The display of profits created confidence among investors, and more investment was made by users subsequently.
Victims made heavy investments based on the profits being reported by the app. Some of them even invested their personal savings and some borrowed loans or sold their assets. One of the victims alone invested ₹4.16 crore.
In addition, they organized trips to countries such as Bangkok and Dubai and places such as Jim Corbett National Park, which were said to be rewards for the investors. In turn, they created an image of a global company.
At some point, users were urged to lock up their funds for longer time frames. Promises of greater returns were made on such locked funds. This step reduced withdrawal activity and increased exposure.
The fraud became visible through the sudden stoppage of withdrawals. The users got locked out from the application. The offices associated with the company were shut down.
Later on, it is revealed that there were 44 additional victims associated with this fraud, having lost around ₹2.66 crore to this fraud. The total amount involved in the case is estimated to be ₹6.82 crore.
The cybercrime expert, Triveni Singh, described this fraud as being social engineering. It involves gaining the victim’s trust, creating urgency, and providing attractive returns. The expert warned that any fixed returns every month must be treated as a clear red flag.
In addition, he suggested verifying the platform before making investments. Such measures may help minimize any risk associated with such a fraud. Cases like this continue to rise with growing interest in digital assets.
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