A sophisticated cryptocurrency scam has recently been uncovered in India, where a 33-year-old man from the Dombivli area of Thane district lost over $25,000 after falling for a fraudulent investment scheme.

The incident began when the victim received a call from an international phone number. The caller posed as a representative of a cryptocurrency investment company. Through a series of persuasive calls, the scammer convinced the victim of the potential for quick profits by investing in Bitcoin and other cryptocurrencies.