Man duped of Rs 10.55 Lakh in 'Digital Gold' investment scam

A case of online investment fraud has been reported at Kankanady Rural Police Station, where a man was allegedly cheated of ₹10.55 lakh after being lured into a so-called “digital gold” investment scheme.

According to the complaint, the victim registered through a link received on Instagram. The fraudsters convinced him that investing in digital gold would yield high returns. Acting on their instructions, he transferred a total of ₹10.55 lakh in multiple transactions to various bank accounts provided by the accused.

Though the app displayed a balance of ₹60 lakh in his account, the complainant was unable to withdraw the amount. Realising that he had been cheated, he approached the police.

A case has been registered and further investigation is in progress.