A local resident reported losing approximately 2.7 million rupees to a fraudulent cryptocurrency investment scheme, police confirmed Friday.
The complainant filed a report with the Kolsewadi police station in Kalyan, alleging that Dheeraj Sakalkar, a resident of Kolhapur, defrauded him after convincing him to invest in digital assets between May and July of this year.
Sakalkar reportedly promised a 30% return on investment in cryptocurrency. The victim then transferred funds in multiple installments, totaling around 2.7 million rupees.
Unluckily, after several months of waiting, the promised returns never materialized, nor did the return of the original investment. Afterward, the accused became unreachable.
I’ve found that these types of investment scams often prey on the promise of high returns with little risk. Here’s what you need to know to protect yourself:
- Be wary of unsolicited investment offers. if someone contacts you out of the blue with an investment opportunity, proceed with extreme caution.
- Verify the legitimacy of the investment. Research the company and the individuals involved. Check with regulatory bodies to ensure they are registered and compliant.
- Understand the risks involved. All investments carry risk, and cryptocurrency is particularly volatile. Don’t invest more than you can afford to lose.
- Avoid pressure tactics. Legitimate investment advisors will not pressure you to make a quick decision.
- Never share your personal or financial information with strangers.
Here’s what works best when evaluating a potential investment: due diligence is key. Always seek independent financial advice before making any investment decisions.
Remember, if an offer sounds too good to be true, it probably is. Protecting your hard-earned money requires a healthy dose of skepticism and thorough research.
Police are currently investigating the matter and are urging anyone with information about Sakalkar’s whereabouts to come forward.