A 44-year-old man from Thane has been accused of defrauding seven investors of ₹1.61 crore by promising high returns on cryptocurrency investments. The alleged scam occurred between December 2023 and June 2025, with funds being routed to a woman's bank account linked to the accused. The Kasarwadavali police registered the case following a complaint filed on May 25, and an investigation is underway. The accused reportedly convinced the victims to invest in cryptocurrency, promising lucrative returns that never materialized. The funds were deposited into an account belonging to a woman whose husband worked with the accused. This case highlights ongoing concerns about crypto-related fraud in India, where scams often lure investors with promises of high returns. Authorities urge victims of cyber fraud to report incidents promptly via the National Cyber Crime Reporting Portal or by calling the helpline number 1930.