Kolkata Crypto Fraud: Businessman Kidnapped and Robbed of Rs 8.9L

Investigation Ongoing in Kolkata Crypto Fraud Case Suspects Arrested

Have cryptocurrency deals in Kolkata turned dangerous? A recent incident shows how swiftly investments can become crimes.

As reported by the Times of India a Kolkata crypto fraud has been exposed, An organized gang of cryptocurrency fraudsters kidnapped an import-export businessman, Brijesh Pandey of Howrah, and robbed him of Rs 8,90,000 on October 28, 2025. The promise of a crypto transaction was used to lure the victim into a trap.

How the Crime Happened

A man named Emo first approached Brijesh and offered him cryptocurrency. He was then taken to Park Circus, where he met another gang member, Saddam. The two of them, along with four others, carried out the robbery near EM Bypass.

The men beat Brijesh inside the car, took his bag containing the money, and threw him out before fleeing. 

The police have apprehended two suspects, including the main accused, Suraj Singh. According to reports, Singh made an estimated Rs 1 crore through such scams. Singh was nabbed in Sikkim trying to travel to Gangtok and open a business in Kathmandu. The police are still on the lookout for four other gang members.

Police Action and Investigation

Suraj Singh has been sent to 14 days of police custody. The investigators are tracing the stolen money and examining digital wallets, bank statements, and devices to understand the full scale of fraud. The authorities are also checking whether this gang is part of a bigger network operating across states.

The case is in addition to the Kolkata crypto scam in which the suspects cheated investors out of ₹ 25 crore on the pretext of fake investment schemes. Scammers use social media, fake trading platforms, and other tactics and promise high returns to their targets.

Growing Crypto Scams in India

Cases of this nature, like the Kolkata fraud, are becoming rather common in India, with more people investing in the crypto market. Many victims are unaware of the risks and fall for "too-good-to-be-true" promises. According to experts, unregulated platforms and quick-money schemes always result in financial losses.

Authorities also encourage investors to check the credentials of every company, avoid over-promising investment schemes, and use only regulated platforms. As law enforcement searches out and stops these fraudsters, awareness becomes very important.

What Needs to Be Done

Stricter regulations against digital currency trading could reduce such cases as this Kolkata crypto fraud. Education to the public about such scams and cross-state police collaboration will help to catch organized fraud networks and recover lost money. 

This case serves as a stern reminder: cryptocurrency can be lucrative, yet it is also very risky. The best protection against fraud is to stay cautious, informed, and alert.