Cal HC rejects plea to quash 80L bitcoin investment scam case
Times of India | 6 February 2026
Kolkata: The Calcutta HC on Wednesday rejected a plea to quash criminal proceedings in a cyber fraud case involving alleged inducement to invest more than Rs 80 lakh in bitcoin, stating the proceedings cannot be quashed on mere apprehension.
The man approached the bench of Justice Chaitali Chatterjee Das, stating that although he was not named in the FIR, he came to know from his bank that his account was frozen. He apprehended he may be unjustly implicated. He challenged the order directing further probe, citing lack of evidence.
The case is based on a complaint filed by a cyber fraud victim who alleged that unknown persons induced him to invest Rs 85.8 lakh in bitcoin trading. But he was was denied full withdrawal of funds, leading to a total loss of the amount invested.
Justice Chatterjee Das held that criminal proceedings involving allegations of fraud of more than Rs 80 lakh cannot be quashed on the basis of a man's apprehensions, especially when he was not even named as an accused in the FIR, and when the matter is being probed by the anti-fraud section.