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Chandigarh Police arrests Rajasthan man in crypto investment fraud of over $40,000
The accused, identified as Jitendra Singh, a resident of Jhunjhunu, Rajasthan, was arrested on April 8 in connection with an FIR filed on February 14 under relevant sections of the Bharatiya Nyaya Sanhita (BNS) at the cyber crime police station.
A 29-year-old Rajasthan man has been arrested by Chandigarh Police for a $40,000 cryptocurrency scam targeting a city resident through a fake investment platform. (Representational Image)
The cybercrime police station, Chandigarh, has arrested a 29-year-old man from Rajasthan in connection with a cryptocurrency investment fraud in which a city resident was allegedly cheated of over $40,000.
The accused, identified as Jitendra Singh, a resident of Jhunjhunu, Rajasthan, was arrested on April 8 in connection with an FIR filed on February 14 under relevant sections of the Bharatiya Nyaya Sanhita (BNS) at the cyber crime police station.
According to police, the case was registered on the complaint of Narender Ahlawat, a resident of Sector 44, who runs a platform named “Track With Market”. He alleged that between October and November 2025, he was approached by fraudsters posing as representatives of a company named TRD-NFT.
Police said that the fraudsters lured him with promises of 2 per cent daily returns through cryptocurrency and AI-based trading, and even shared fake documents, including a purported SEBI certificate and fabricated transaction screenshots, to gain his trust. Believing the claims, the complainant transferred $40,704 to a cryptocurrency wallet in multiple transactions.
Police said that when the complainant later sought withdrawal of his investment and profits, the accused stopped responding, leading to the fraud coming to light.
During the investigation, the cyber police coordinated with cryptocurrency exchange Binance to obtain Know Your Customer (KYC) details linked to the fraudulent wallet. The inquiry revealed that the wallet was registered in the name of Jitendra Singh, with a mobile number issued in his name.
Following this, a police team arrested the accused and recovered mobile phones from his possession.
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During the interrogation, Jitendra disclosed that he had come in contact with a person from Haryana who was involved in similar frauds.
According to the police, he reportedly stated that he facilitated the fraud by allowing his Binance wallet to be used for receiving USDT transactions from victims lured through fake investment schemes.
Police said the accused is currently in remand and is being interrogated to identify other members of the network and trace additional victims.
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