Two Victims Lose ₹44 Lakh to Fake Trading Scam

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Two individuals lost a combined total of 44 lakh rupees through deceptive investment schemes involving cryptocurrency and foreign stock market opportunities, according to law enforcement authorities.

First Instance: Cryptocurrency Scam via Telegram Group

A woman from Lotus-300 Society in Sector 107 was added to a Telegram group in July 2025 that promoted remote work and cryptocurrency investments. Group members allegedly posed as representatives of an investment firm, showcasing fabricated profit reports and fake trading data to build credibility.

Scam Details

The victim was pressured to make multiple transfers totaling 20.92 lakh rupees into various bank accounts. When she sought to withdraw her funds, the perpetrators demanded additional payments, revealing the scam.

Second Case: Foreign Stock Market Fraud

A resident of Galaxy North Avenue-1 Society in Gaur City West was contacted through an online platform last year. The fraudsters convinced the individual to invest 23.06 lakh rupees in foreign stock markets by emphasizing exaggerated returns.

Escalation and Aftermath

After receiving the funds, the perpetrators ceased all communication. Investigations by the Noida Cyber Police are ongoing following the complaints.

Rising Trend of Scams

A research organization specializing in digital crime noted a rising trend of similar scams, where fraudsters create fake investment groups, display manipulated trading dashboards, and use fabricated testimonials to deceive victims.

Scam Tactics

These schemes often escalate by pressuring individuals to invest larger sums under the guise of securing returns. A cybersecurity expert with experience in law enforcement highlighted the increasing use of social engineering tactics and counterfeit digital platforms to target investors.

Expert Warnings and Public Advice

The expert emphasized the importance of verifying the authenticity of any high-yield investment opportunity, particularly those involving cryptocurrency or international markets. They also warned that demands for additional fees before processing withdrawals are clear indicators of fraudulent activity.

Authorities’ Recommendations

Authorities have advised the public to exercise caution when encountering investment offers through social media, messaging apps, or unverified online groups. Verification of the platform’s legitimacy and independent research are critical steps to avoid falling victim to such schemes.

According to a research organization specializing in digital crime, the trend of fake investment groups and manipulated trading dashboards is on the rise.

A cybersecurity expert with experience in law enforcement warned that social engineering tactics and counterfeit platforms are increasingly used to target investors.