| Name of Complainant | |
| Date of Complaint | February 28, 2024 |
| Name(s) of companies complained against | |
| Category of complaint | Investments |
| Permanent link of complaint | Right click to copy link |
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The Prospective Buyer (Accused) named as Mr. Atul Kumar Sharma with his associate Mr. Sanyam Jain are conning lucrative middle men / Agents & Bitcoin Sellers. The Modus operandi is as follows.
The Buyer’s associate & partner in crime Mr. Sanyam Jain tells middlemen /agents to look for a BTC seller with volume of 100plus BTC. The price offered is 25℅ premium on the existing market price or Google price. The middle man gets attracted to this offer and hunts for a seller. If the deal is struck the middle man ends up earning a whopping 25℅ which itself is in crores. Then the Associate of the accused Mr. Sanyam demand’s money for travel expenses & accommodation in 5 star hotel at the cost of the middle man. The middle man anticipating huge profit falls for the trap. He agrees to send money for tickets and hotel booking for the prospective Buyer which is somewhere around 75k-1L INR.
On the particular day the so called BTC Buyer comes with his associate. The Hotel chosen by them is always The Lalit Hotel. Whether it is Bangalore/Mumbai or Delhi. The Middle man finalises the market price for sale of BTC with the Seller, which is the actual price. He is excited that he will get a premium of 25℅ on the market price from the Buyer for whose travel he has already paid.
The Buyer then meets the Seller of BTC in person on the day and date decided. The Buyer sits in the lobby of the hotel & opens his lap top and types something and shows a page which displays a bank account. He shows the Seller a Bank Balance of around 2700crores with a few transactions for around 50crores odd.
The Seller of the BTC now has no words to say as the so called Buyer on the looks is worth zero but shows huge amount in a fabricated web page a balance of a whopping 2700crores.
Then he asks the Seller to verify his BTC which he intends to sell. During the Verification process he asks the Seller to read out the 12 word recovery phrase of the Sellers BTC wallet or write it down on a piece of paper in front of the Buyer. The Seller denies writing the same infront of anybody as it is a secret 12 word phrase, which if revealed to anybody, the Seller can loose all his Assets / BTC available in the Wallet.
The Buyer tries to convince the Seller to write the 12word secret recovery phrase of the BTC Wallet holding 100 BTC’s. The Seller somehow unconvinced leaves the hotel lobby as he finds it unusual. The buyer also has some 4-5 members of his team hovering around in lobby. This makes the BTC Seller feel he is unsafe, and slowly the lucky Seller moves out with a reason saying that he will take advice from his partner on a phone call. He slowly moves out of The Lalit Hotel and exits from the promises as he has crores worth BTC in his Wallet.
Some people like this Seller are lucky, else most of them get caught in this trap and are cheated.
The middleman looses the money paid for Travel expenses and stay for the Buyer (accused) as he reasons out saying that the Seller is not ready for the deal where as the Buyer is ready.
The public needs to be careful. The middleman like me lost 75k to these Fraudsters.
Image Uploaded by Anandkumar Jain / Nileshkumar Dand: