Indian police are investigating the “Datameer” crypto trading app, which allegedly duped at least 700 locals out of inr 10 million.

According to a local report, the scheme promised returns of up to 50% to unsuspecting investors who were told their funds were being invested in cryptocurrencies.

Once the investors transferred their money through the fake app, the app shut down, and the scammers disappeared. During the time it was active, the scam managed to dupe investors of more than inr 10 million (roughly $119,000).