Indian Chartered Accountant Loses $2.2M to Pig-Butchering Crypto Scam in Madhya Pradesh

Madhya Pradesh police are investigating a cryptocurrency investment fraud in which a 70-year-old chartered accountant, Ashok Vijayvargiya, lost ₹21.06 crore, approximately $2.2 million, to scammers who befriended him on social media and funneled his funds through a fake trading platform. The fraudsters built trust over weeks by showing fabricated returns, then blocked all withdrawal attempts once deposits exceeded $2.2 million.

A parallel case in Surat, Gujarat, involved a 29-year-old software engineer accused of renting bank accounts to accomplish the scheme. Investigators found one such account linked to ₹24.72 crore ($2.5 million) in alleged losses across eight cyber fraud complaints. Both investigations remain open as authorities work to trace the money.