I lost money to a crypto investment scam advertised on social media from Gandhinagar; what should I do?
PR Asked by Pradeep Naidu from India
Quick Answer
Crypto investment fraud is prosecuted under Sections 419, 420 of the Bharatiya Nyaya Sanhita and Section 66D of the IT Act for cheating by personation.
Detailed Legal Analysis
Crypto investment fraud is prosecuted under Sections 419, 420 of the Bharatiya Nyaya Sanhita and Section 66D of the IT Act for cheating by personation. Lodge a cyber complaint at the Gandhinagar cyber police station and on the National Cyber Crime portal, attaching transaction hashes, wallet addresses and chat records.
The Reserve Bank's advisories make private crypto a regulated grey area, but cheating is fully actionable. The Gujarat High Court can be moved for directions to freeze the proceeds in the offending wallets if police action is delayed.
Gujarat Rent Control Act 1999 on money-lending or prize chits may also apply where the scheme promised guaranteed returns. Inform your bank immediately to attempt a recall or chargeback where the channel permits.
Engage a cyber lawyer in Gandhinagar to coordinate with the investigating officer and the exchange's grievance portal.
Legal Provisions Referenced
Verify the current statutory text at India Code (the official repository of Indian legislation) or the Legislative Department. This answer is general legal information, not advice on your specific matter.
Disclaimer: AI-generated for educational purposes only. Does not constitute legal advice. Consult a qualified practitioner.