Promised 98L for old coins, student loses 22L to cheats
Mumbai: A 22-year-old Bachelor of Management Studies (BMS) student was duped of Rs 22 lakh by cyber fraudsters under the pretense of exchanging old Indian coins for a hefty sum.
According to cyber police, the fraudsters assured the victim that he would receive Rs 98 lakh in exchange for the coins but that he needed to fill an "RBI registration form" and pay a registration fee of Rs 699.
Once the student made the initial payment through a digital payment system, the fraudsters raised their demands, citing various false taxes and charges. They persuaded the victim to transfer Rs 22.08 lakh Over the span of four days (June 2–6) into multiple bank accounts, The cyber police said the victim, a resident of Andheri, came across a suspicious advertisement on Instagram on June 2, 2025. The ad claimed to offer high returns for old coins and listed a WhatsApp number. — S Ahmed Ali
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