Thane, Mar 22 (PTI) A 37-year-old man from Navi Mumbai allegedly lost more than Rs 10 lakh after fraudsters persuaded him to invest in cryptocurrency promising high returns, an official said on Friday.

In his complaint, the man said some individuals contacted him over the phone and Telegram app between February 9 and February 11, claiming he would get lucrative returns if he invested in cryptocurrencies like bitcoins and other digital assets.

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He then transferred Rs 10.61 lakh into various accounts as advised by the scammers.

The man approached the police when he did not receive any money in return despite attempts to contact the accused.

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The Uran police on Thursday registered a case of cheating under the Indian Penal Code, and the Information Technology Act, said the station house officer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)