Pig-Butchering Scam Starts from Dating Site: Indian Man Loses Rs 3.2M in 'Boost Base'

A 29-year-old Indian man recently fell victim to a pig-butchering scam after meeting a woman online. On her recommendation, he invested in cryptocurrencies through a trading app called "Boost Base," unaware that it was a fraudulent platform.

It is reported that the Indian man in Mumbai, a manager from a multinational company, registered with a dating platform at the beginning of this year, hoping to find a life partner.

On April 21, the man met a woman who introduced herself as 'Mahi Agawal' on the platform. She claimed to be a cryptocurrency investor, working for Boost Base in Malaysia with a six-figure annual salary. As their conversation progressed, their discussions shifted from marriage to investment opportunities.

Agawal encouraged the man to invest in cryptocurrency through the company she worked for, so the victim created a cryptocurrency account and downloaded the Boost Base trading app.

Within about a month, the victim deposited nearly Rs 3.3 lakh through this app. However, the victim found the account locked when he tried to withdraw from the app on May 18th. The man immediately realized he had been scammed and approached the police.

BrokersView reminds you

Investors should exercise extreme caution when receiving unsolicited investment advice and remember that recommendations from friends, family, or public figures offer no guarantee of financial safety.

Investors are advised to check the financial licenses of financial institutions before making trading decisions to avoid unnecessary risks.