Cyber Fraud: A cyber security expert from Pune became a victim of online investment fraud in which he suffered a loss of around ₹73.69 lakh. Despite their deep knowledge of online security, they fell into a cunning trading scam. The thugs made them transfer money to the accounts of different cities like Chennai, Bhadrak, Ferozepur, Ulhasnagar, Pimpri-Chinchwad and Gurugram. This incident is an indication of how fast fake trading platforms are spreading in India which lure people with the lure of high profits.
How the web of fraud was created
This whole incident started in August when the victim received a message on WhatsApp from an international number, which contained a link. As soon as he clicked on the link, he joined a group chat where more than 100 people were sharing screenshots of alleged earnings related to the stock market. The group administrator asked him to fill a registration form and login to a special trading app where he was promised “expert trading guidance”.
Between August 8 and September 1, the victim transferred ₹73.69 lakh to different accounts 55 times. When he tried to withdraw ₹2.33 crore showing in his account, the scammers demanded 10% tax. Then he realized that he had become a victim of fraud and lodged a complaint with the Pune Cybercrime Police.
Police warnings and disclosures
Investigation revealed that such scams are spread in the form of investment groups on WhatsApp and Telegram. Fraudsters, posing as SEBI-registered advisors or foreign investors, ask users to download fake trading apps.
The interface of these apps is similar to the real platform, which makes the user believe that he is investing money in real stocks. But as soon as it comes time to withdraw money, the app or website disappears. Despite constant warnings from SEBI and police, such scams are now targeting cyber experts too.
How to avoid online investment fraud
Cyber officials have warned citizens to always check the validity of any investment platform.
- Stay away from unknown links, messages or groups.
- Do not transfer money to the account of any unknown person or company.
- Keep security updates in your mobile and computer.
- Use two-factor authentication and strong passwords.
- Keep a regular eye on bank transactions.
Also read:
You can give these cool and affordable gadgets to your loved ones on Diwali 2025, everyone likes the first one.