Hyderabad: A 30-year-old government health officer has fallen victim to a meticulously orchestrated cryptocurrency scam, losing ₹5.77 lakh in the process. The officer, who frequently trades on the Binance app, was targeted while attempting a routine peer-to-peer (P2P) transfer of USDT.
The Perfect Crypto Trap
The scam unfolded when a fraudster intercepted the transaction, posing as a helpful guide to “verify and process” the transfer. Trusting the fraudster’s instructions, the officer was asked to send funds to an account provided for what was claimed to be a verification step. The transaction was carried out using the Web3 feature on the Binance app.
Shortly after completing the transfer, the officer noticed three suspicious transactions in her Binance Web3 history. Upon reviewing her Binance wallet, she found it completely drained of funds. The fraud didn’t stop there.
The officer began receiving a barrage of scam calls from individuals pretending to be Binance customer support. The callers pressured her to accept video calls, click on dubious links, and even visit a fraudulent website, verifybep.in, for further verification. Alarmed by these attempts and realizing she had been duped, the officer promptly reported the incident to Hyderabad’s cyber crime wing.
Authorities on the Hunt
Hyderabad police have launched an investigation to track down those behind the scam and recover the stolen funds. However, given the anonymous and decentralized nature of cryptocurrency transactions, tracing such fraudsters is a complex challenge. Authorities continue to warn users to stay alert and take extra precautions while trading online.
Beware, Crypto Traders
Experts warn that cryptocurrency users should always stick to official platforms and avoid engaging with strangers online, no matter how helpful they seem. Fraudsters often appear convincing, making it crucial to double-check every transaction. Traders are also advised to avoid clicking on suspicious links or visiting unverified websites, as these can lead to scams. While crypto trading can be profitable, it comes with risks. This incident serves as a strong reminder that trust in the digital world should never be taken lightly.
