The victim was duped via a fake WhatsApp trading group promising high profits.
He made 55 transfers totaling Rs 73.69 lakh across multiple Indian cities.
Scammers mimicked SEBI-registered advisors; police warn users to verify trading apps.
A cybersecurity professional from Pune has lost Rs 73.69 lakh in a complex online trading scam carried out via WhatsApp. The victim, despite his professional expertise in online safety, was manipulated into transferring funds across multiple accounts in cities including Chennai, Bhadrak, Ferozepur, Ulhasnagar, Pimpri-Chinchwad, and Gurugram. The growing trend of fake trading platform scams is sweeping across India, luring individuals with the promise of quick profits.
SurveyThe ordeal started in August, when the victim received a message from an international WhatsApp number containing a suspicious link. Clicking it led him to a group chat with over a hundred members, each sharing screenshots of fake “profits” from a supposed stock-trading app.
The group’s admin instructed him to fill out a form and log into the app, promising exclusive trading guidance and high returns. Over the next few weeks, from August 8 to September 1, the victim was persuaded to make 55 separate transfers totalling nearly Rs 73.69 lakh to various bank accounts across several cities.
However, when he tried to withdraw his “earnings”, an apparent balance of Rs 2.33 crore, the scammers demanded a 10% ‘tax’ payment before processing. Realising he had been duped, the expert filed a complaint with the Pune Cybercrime Police.
Investigators reveal that such investment scams are often disguised as legitimate trading communities on WhatsApp and Telegram. Scammers pose as SEBI-registered advisors or foreign investors, urging users to download fake apps that mimic genuine platforms.
Victims are convinced they’re trading in real stocks or IPOs until they attempt to withdraw funds and the apps vanish. Despite multiple public advisories by SEBI and police departments, these scams continue to dupe even informed professionals.
Authorities urge citizens to verify platforms, avoid unsolicited investment offers, and never transfer money to unknown accounts.
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Himani Jha
Himani Jha is a tech news writer at Digit. Passionate about smartphones and consumer technology, she has contributed to leading publications such as Times Network, Gadgets 360, and Hindustan Times Tech for the past five years. When not immersed in gadgets, she enjoys exploring the vibrant culinary scene, discovering new cafes and restaurants, and indulging in her love for fine literature and timeless music. View Full Profile
