Key Takeaways
- • $40,704 fraud loss: A Chandigarh resident was defrauded of over $40,000 through a fake cryptocurrency investment platform promising 2% daily returns between October and November 2025.
- • Suspect arrested April 8, 2026: Jitendra Singh, 29, from Jhunjhunu, Rajasthan, was arrested by Chandigarh Cyber Crime Police after an FIR was filed on February 14, 2026, under the Bharatiya Nyaya Sanhita (BNS).
- • Sophisticated social engineering scheme: Fraudsters impersonated representatives of a company named "TRD-NFT," providing fabricated SEBI certificates and fake transaction screenshots to establish credibility before soliciting cryptocurrency transfers.
- • Binance KYC coordination enabled arrest: Police obtained Know Your Customer (KYC) details from cryptocurrency exchange Binance, which traced the fraudulent wallet directly to the suspect's registered mobile number, facilitating identification and apprehension.
- • Victim posed as AI-trading platform operator: The complainant, Narender Ahlawat, who operates a platform called "Track With Market," was specifically targeted, suggesting scammers conducted preliminary research on potential victims with investment experience or financial credibility.
Summary
Chandigarh Cyber Crime Police arrested a 29-year-old Rajasthan resident on April 8, 2026, in connection with a cryptocurrency investment fraud scheme that defrauded a city resident of $40,704. The accused, Jitendra Singh of Jhunjhunu, Rajasthan, was apprehended following an investigation into an FIR filed on February 14, 2026, under relevant sections of the Bharatiya Nyaya Sanhita (BNS) at the cyber crime police station.
The fraud targeting complainant Narender Ahlawat, a Sector 44 resident who operates a platform named "Track With Market," occurred between October and November 2025. Fraudsters posing as representatives of a company identified as TRD-NFT approached Ahlawat with promises of 2% daily returns through cryptocurrency and AI-based trading mechanisms. To build confidence, the perpetrators provided fabricated documentation including a purported SEBI certificate and forged transaction screenshots. Ahlawat transferred $40,704 across multiple transactions to a cryptocurrency wallet designated by the fraudsters. The scheme unraveled when Ahlawat attempted to withdraw his investment and accrued returns, at which point the accused ceased communication.
Investigators coordinated with cryptocurrency exchange Binance to retrieve Know Your Customer (KYC) records associated with the fraudulent wallet address. The examination revealed that the wallet was registered under the name of Jitendra Singh with a mobile number issued in his name, establishing the critical link between the suspect and the criminal activity. Police subsequently arrested Singh and recovered mobile phones from his possession during the investigation.
This case exemplifies the evolving sophistication of cryptocurrency-based investment fraud targeting individuals with financial acumen or platform operations, leveraging falsified regulatory documentation and AI-based trading claims to overcome initial skepticism. The successful resolution demonstrates the operational importance of cross-institutional coordination between law enforcement and major cryptocurrency exchanges in tracing illicit digital asset flows.
The fraud targeting complainant Narender Ahlawat, a Sector 44 resident who operates a platform named "Track With Market," occurred between October and November 2025. Fraudsters posing as representatives of a company identified as TRD-NFT approached Ahlawat with promises of 2% daily returns through cryptocurrency and AI-based trading mechanisms. To build confidence, the perpetrators provided fabricated documentation including a purported SEBI certificate and forged transaction screenshots. Ahlawat transferred $40,704 across multiple transactions to a cryptocurrency wallet designated by the fraudsters. The scheme unraveled when Ahlawat attempted to withdraw his investment and accrued returns, at which point the accused ceased communication.
Investigators coordinated with cryptocurrency exchange Binance to retrieve Know Your Customer (KYC) records associated with the fraudulent wallet address. The examination revealed that the wallet was registered under the name of Jitendra Singh with a mobile number issued in his name, establishing the critical link between the suspect and the criminal activity. Police subsequently arrested Singh and recovered mobile phones from his possession during the investigation.
This case exemplifies the evolving sophistication of cryptocurrency-based investment fraud targeting individuals with financial acumen or platform operations, leveraging falsified regulatory documentation and AI-based trading claims to overcome initial skepticism. The successful resolution demonstrates the operational importance of cross-institutional coordination between law enforcement and major cryptocurrency exchanges in tracing illicit digital asset flows.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.