Nashik: A private employee in the city has been cheated of Rs 1,569,078 on the pretext of making high profits in ‘cryptocurrency’. The suspects hacked the complainant’s trust wallet by scanning the QR code, asking him to buy ‘USDT’ (Tether) at a rate higher than the market price. A case has been registered in this instance at the Cyber Police Station.
The complainant was contacted by unknown persons named Yogesh and Sagar from Pune between October 2025 and November 11, 2025. They lured him to get more returns from selling USDT and asked him to scan the QR code. As soon as the code was scanned, the complainant’s digital trust wallet was accessed, and 16,604 USDT was transferred to another wallet.
Since crypto transactions are instant and irreversible, the transaction cannot be cancelled. After the transaction was completed, the suspects disconnected the contact. After realising that the fraud had taken place, the complainant rushed to the cyber police.
Senior Police Inspector Sanjay Pise said that a technical investigation is underway based on the relevant mobile number and wallet ID. Work is underway to trace the digital trail of the money transfer.
What is USDT (Tether)?
USDT is a stablecoin type of cryptocurrency. Its price is usually kept fixed at 1 US dollar. It is widely used on global crypto exchanges for buying and selling, trading and transferring funds. It is stored in a digital wallet. Transactions are recorded on the blockchain and are difficult to cancel after completion. USDT is misused in fraud cases by luring ‘high profits’ or ‘off-market deals’.
Cyber police have appealed to citizens to be cautious. Do not fall prey to any kind of ‘high returns’ lure related to cryptocurrency. Do not scan QR codes or links sent by unknown persons. If such fraud occurs, a complaint should be filed immediately at the cyber police station or on the 1930 helpline.
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