Scammers lure people with old coins, promise huge payouts
Scammers are targeting people with old coins across India, using social media ads that promise huge payouts.
A 74-year-old from Hyderabad and a 65-year-old retired security guard from Madhya Pradesh were convinced by fraudsters—posing as buyers or government representatives—that their coins were worth lakhs or even crores.
Hyderabad man lost ₹4.27 lakh over several weeks
The victims were asked for multiple advance payments for fake "verification" and "clearance" fees.
The Hyderabad man lost ₹4.27 lakh over several weeks; the Madhya Pradesh victim paid nearly ₹60,000 before dying by suicide after repeated threats from scammers.
Police have filed cases of cyber fraud and abetment to suicide, tracing digital evidence and payment trails.
Officials stress that RBI never charges fees for coin deals, and experts urge everyone: don't pay upfront or share documents with unverifiable buyers—report scams right away at cybercrime.gov.in or by dialing 1930.