Mobile Shop Owner in Ahmedabad Falls Victim to Cryptocurrency Fraud
Ahmedabad, February 20, 2026: A 34-year-old mobile phone repair shop owner from Bopal, Ahmedabad, has reportedly lost a substantial amount of money after falling prey to an elaborate cryptocurrency scam. The victim, identified as Shaktisinh Thakor, filed a complaint with the Bopal police station on Wednesday, alleging he was defrauded of Rs 5.56 lakh.
According to Thakor’s statement to authorities, the trouble began in August 2025 when he received a WhatsApp message from an international number. The sender, who introduced herself as Maya Sharma, coaxed him into investing in cryptocurrency by promising high returns on his investment.
Following the initial contact, Thakor was directed to register on a website named “MexcCrypto” through a provided link. For registration, he was asked to pay a fee of Rs 9,500, which he transferred on September 28, 2025, believing in the legitimacy of the opportunity.
Over the following two months, Thakor reported that he was repeatedly encouraged to deposit more funds for cryptocurrency trading on the platform. From September 30 to November 22, 2025, he transferred a total sum of Rs 5.56 lakh as investments.
Though the platform allegedly displayed notional profits in US dollars, Thakor soon encountered issues when he tried to withdraw his funds. The website then demanded he pay Rs 5.29 lakh more as “tax” to release a sum of Rs 12 lakh he was told he had earned. Realizing that the arrangement was a fraud, he reported the incident to the cybercrime helpline at 1930. Police officials have confirmed they are investigating the matter. Authorities have cautioned citizens to exercise extreme caution in cryptocurrency investments, especially those initiated through unsolicited contacts and unverified platforms.
Understanding Cryptocurrency Scams
Cryptocurrency frauds like these often involve convincing victims to invest through fake websites or unregulated apps, with scammers fabricating profits to lure more deposits. Victims typically face difficulties withdrawing their funds and may be coerced into paying additional fees, taxes, or penalties as part of the scam.
The cybercrime department urges people to verify the credibility of cryptocurrency platforms, avoid transactions through unverified links, and report suspicious activities immediately.
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