Crypto craze turns risky: Himachal sees surge in cyber fraud cases

Himachal Pradesh is witnessing a worrying rise in cybercrime cases linked to cryptocurrency investments. Fueled by the desire for high returns, many residents are unknowingly falling into the trap of unauthorised exchanges and fake digital coins. In 2025 alone, 24 complaints related to cryptocurrency fraud have already been registered, adding to the 135 cases reported last year via the cybercrime helpline (1930).

Deputy Inspector General (DIG) Mohit Chawla of the State CID Cybercrime unit revealed that despite regular awareness campaigns, people continue to become victims of online fraud. “Lack of awareness and the failure to verify platforms before investing are the biggest culprits. Many unknowingly engage with shady exchanges or suspicious coins,” he said. Chawla emphasised that the anonymous and technically complex nature of crypto transactions makes them especially attractive to cybercriminals operating on the dark web.

Although dealing in cryptocurrency is not illegal in India, the DIG stressed the importance of prioritising security and legality. “Any suspicious or fraudulent activity must be reported immediately to safeguard both personal finances and the wider digital economy,” he urged.

Chawla warned investors to use only verified and licensed cryptocurrency platforms that comply with know your customer (KYC) regulations. Platforms that promise unrealistically high returns or bypass identity verification are major red flags. He also highlighted the dangers of schemes circulating on social media, such as “double your money” scams and fake trading bonuses, which lure users into financial traps.

The DIG cautioned against clicking on unknown links or using unauthorised apps for crypto-related transactions, as these are commonly used to extract sensitive personal and financial data. He reiterated that involvement in illegal activities on the dark web—whether buying, selling, or otherwise—is a serious crime under Indian law.

To tackle this evolving threat, the Himachal Pradesh Police have introduced advanced AI-based monitoring systems to track blockchain transactions. Special cybercrime task forces are actively monitoring the dark web, and the state is working closely with national and international agencies to crack down on online fraud networks.

The authorities continue to appeal to citizens: stay alert, research well, and report any suspicious activities to the nearest cybercrime unit or by dialing 1930.

Himachal Tribune