Binance Used to Siphon Off ₹7.21 Crore from Retired Woman in Digital Arrest Scam
A 68-year-old retired woman from South Mumbai was allegedly duped of ₹7.21 crore by cyber fraudsters who threatened to implicate her in money laundering and terror funding cases.
The accused claimed to be officials of the 'National Data Protection Board of India' and even sent her fake notices and orders purportedly issued in the names of a court, RBI, and ED.
They convinced her to transfer money to various bank accounts and open an account on Binance, where she was instructed to purchase USDT through peer-to-peer transactions and transfer it to wallets specified by the fraudsters.
The victim, who had retired in 2024 and was dependent on returns from fixed deposits, mutual funds, and shares, became suspicious after transferring the money and lodged a complaint with the cybercrime helpline number 1930 on August 13, 2026.