MBA graduate in India loses Rs 9.29 lakh to pig butchering cryptocurrency scam

Summary

A 41-year-old MBA graduate from Bachupally, Hyderabad, lost Rs.9,29,786 in a pig-butchering fraud between November 5 and November 14. The victim received a Facebook friend request from a profile named Amrutha Chowdary, who claimed to have studied at the same college. She guided him through WhatsApp to a fake trading app, promising returns on gold-yield trading in US dollars. After an initial withdrawal of Rs.4,608, he was convinced to invest further, transferring Rs.8,84,394 into another bank account. When he attempted to withdraw the funds, the request failed, and he reported the incident to the cybercrime helpline 1930. Cyberabad cybercrime police have registered a case and are investigating.