Overview
- Victims from Pune, Bengaluru, Mumbai, Bhopal, Indore and Nagpur have filed complaints reporting losses that range from lakhs to multiple crores, including a retired Pune IT professional who alleges ₹4.43 crore was taken through WhatsApp and Telegram schemes.
- Investigations show a common method: unsolicited contact on social platforms, small initial payouts to build trust, fake trading dashboards that show large fabricated balances, then demands for extra ‘service’ or tax payments to release funds.
- Police units and the National Cyber Crime Reporting Portal have registered FIRs and opened probes that trace dozens of disposable mobile numbers, dozens of beneficiary bank accounts and multiple spoofed websites, but there are no widely reported arrests yet.
- Some victims were pressured into selling assets or converting cash into cryptocurrency during the scams, which complicates recovery and magnifies personal losses for retirees and salaried workers.
- Cyber experts and police warn the public to verify any unsolicited investment offer, avoid transferring money to unknown accounts, and report fraud through official channels such as the NCCRP so investigators can trace account flows and platform operators.