Online Trading Scams on WhatsApp: ₹75 Lakh Lost by Investor
Major Cyber Fraud Case Exposed: Retired Engineer Duped of ₹75 Lakh
A sophisticated cyber fraud scheme has been uncovered, targeting a 71-year-old retired telecom engineer from Noida who lost nearly ₹75 lakh.
The Scam Unfolds
- The victim was lured into investing through a fake stock-trading app that initially yielded a small profit.
- The app claimed to operate in both Indian and US stock markets, offering assured profits through technical trading strategies and IPO investments.
- The victim received regular stock tips and investment strategies, creating a sense of credibility and building trust.
Investigation Launched
The authorities have launched an investigation and are tracing the bank accounts and digital trails linked to the operation.
According to Professor Triveni Singh, a cyber crime expert, “social engineering plays a critical role in such scams.” She warns that blindly trusting unknown groups, trading apps, or investment schemes can be extremely risky.
Warning Signs
- Fraudsters often show small profits to build trust before luring victims into investing substantial amounts.
- Be cautious of fake applications and investment schemes that promise guaranteed returns.
Action Taken
The victim realized he had fallen victim to a scam and approached the cybercrime police, filing a complaint.
Citizens are urged to report any suspicious investment offers or online activities to cyber helplines or law enforcement agencies promptly.
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