The MIDC police registered an FIR against the unknown owner of the ECE Limited app (ERA CAPITAL EARNING LIMITED) on Sunday. According to the police, the crypto trading app, ECE Limited, where thousands of people invested crores of rupees, has not only disappeared from app stores, but also stopped functioning since September 26.

This came to light after Reena Tiwari, her sister Ruchi Pandey, 31, (their family together lost around R16 lakh) and some other victims approached the MIDC police last Wednesday seeking help after losing their investments. “On the complaint of Pandey, we have registered a case under Sections 417 [punishment for cheating) and 420 [Cheating and dishonestly inducing delivery of property] of IPC against the unknown owner of the ECE app [ERA CAPITAL EARNING LIMITED],” said an officer from MIDC police station.