66-Year-Old Kothrud Businessman Duped of ₹5.42 Lakh in Fraudulent Crypto Trading Scheme
PUNE: A 66-year-old chemical trading businessman residing in Kothrud has fallen victim to an online cryptocurrency investment scam, losing ₹5,42,300. The Pune City Cyber Police registered an FIR following the victim’s complaint, routed via Alankar Police Station.
According to the police, the complainant, Suhas Gurunath Hasabnis, a resident of Pinac Garden on Karve Road, received a WhatsApp message on January 29, 2026, from an unidentified contact using a UK-based virtual phone number (+44 7592840772) operating under the alias ‘Adhish’. The sender promised high daily returns through cryptocurrency (USDT) and stock trading.
The complainant was added to an investment WhatsApp group named “compoundes.top trading platform”, where group administrators induced him to register on a fraudulent web portal (compoundes.top). To initiate investments, the victim was directed to create a Binance account and transfer funds in USDT using his wife’s bank credentials.
To simulate legitimate trading, the perpetrators displayed inflated paper profits on the dummy portal, eventually claiming his portfolio had grown to ₹24.66 lakh. Under the pretext of a mandatory “30% profit commission” required before withdrawal, the fraudsters directed the complainant to transfer domestic currency into multiple third-party accounts via UPI and RTGS.
Between February 4 and February 5, 2026, Hasabnis transferred ₹5,42,300 across four separate transactions from his wife’s HDFC Bank account and his son’s ICICI Bank account. The funds were credited to accounts linked to Kashish Hingorani, Yogita, and a J&K Bank account under Syed Mohsin Mushtaq.
The fraud came to light when the operators demanded an additional ₹7.39 lakh in advance commission to unlock the funds. When Hasabnis requested the return of his principal capital, all communications abruptly ceased.
A formal case has been registered against ‘Adhish’, group administrators, and the beneficiary account holders under relevant sections of the Indian Penal Code and the Information Technology Act. Further investigation is underway by Pune Cyber Police.