- ₹2,000 crore swindled in crypto scams in Himachal Pradesh.
- 89 arrests made; 20 FIRs filed since 2021.
- A ₹1,740 crore Bitcoin scam led by Subhash Sharma affected 100,000 victims.
- New cybercrime units planned to combat rising fraud cases.
In the last three years, Himachal Pradesh has witnessed one of India’s largest crypto scams, totaling a staggering ₹2,000 crore. Chief Minister Sukhvinder Singh Sukhu disclosed this shocking figure in the State Legislative Assembly, revealing that 89 people had been arrested and 20 FIRs filed. The swindlers lured unsuspecting citizens with promises of doubling their money through various crypto platforms and schemes.
The Chief Minister mentioned that despite the enormity of the scam, only ₹11.36 lakh was recovered and returned to six victims. Most of the fraud occurred through online platforms, offering enticing but unrealistic returns.
Bitcoin Scam Hits 100,000 Victims
The lion’s share of the scam comes from a ₹1,740 crore Bitcoin fraud, one of the largest in the country. Reported last year, the scam victimized approximately 100,000 people, primarily in the districts of Mandi, Una, Bilaspur, and Kangra. These residents were duped through websites and crypto coins, promising high returns.
The mastermind, Subhash Sharma, remains elusive, reportedly hiding in Dubai. His associate, Milan Garg, was apprehended in Kolkata in July 2024. Despite the arrests, the scope of the scam remains vast, with over 400 complaints related to this fraud pouring in from various districts.
State Cybercrime Response Gears Up
With a sharp increase in cyber fraud cases, the Himachal Pradesh Police are ramping up efforts to combat the growing menace. New Integrated Cyber Extended (ICE) Units will be established in nine districts lacking cyber police stations. Currently, the state has only three such stations—located in Mandi, Kangra, and Shimla—where cybercrime complaints are handled. These limited resources are struggling to keep up with the surge, with an alarming rise in daily complaints, jumping from 11 per day in 2019 to 44 per day in 2024.
Cybercrime complaints continue to flood the centralized cyber helpline (1093), with 248 calls being received daily. Most of these are linked to financial fraud (72%), followed by social media scams (19%), and inquiries related to phone hacking and reporting protocols (9%).
Legal Challenges in Cybercrime Recovery
In response to the increasing number of cyber fraud cases, the Himachal Pradesh High Court, in March 2024, directed lower courts to avoid automatically registering FIRs for cyber fraud cases. The court stated that the police are already overwhelmed and registering an FIR for every complaint is impractical. This decision has caused mixed reactions, as victims seeking financial recovery often view FIR registration as the first step toward justice.
As the state grapples with this escalating crisis, the expansion of cybercrime units could offer some relief. However, with the scale of financial fraud continuing to grow, tackling these scams requires more than just increased police presence—it needs public awareness, technological safeguards, and swift legal action to protect residents from future threats.
