Two city professionals — one an engineer, the other an employee in a private firm — have fallen prey to an elaborate online trading fraud, losing a combined ₹2.28 crore over several months. The East Cybercrime Police have registered separate cases to investigate how sophisticated manipulation and false promises lured them into the trap.
False Promises, Fake Returns
Victims were drawn in through messages and links promising high returns from stock trading. They were persuaded to download trading apps or platforms that initially showed gains to instill confidence. The perpetrators encouraged them to invest more, funneling funds through multiple bank accounts. As sums grew, withdrawals were blocked, and excuses citing taxes or “platform fees” were given.
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In the case of the engineer, the fraudsters took advantage of his trust in financial markets, coaxing him into placing large orders. In the other case, the private firm employee was similarly manipulated by assurances of “guaranteed profits.” These were classical examples of bait-and-switch tactics, where early small returns are faked to induce larger investments.
Police Action and Ongoing Investigations
East Cybercrime officials say they are tracking the digital footprints, bank transfers, account logs, and server data to trace the chain of operators behind the scam. They are coordinating with banks to trace the flow of money and freeze implicated accounts.
The two victims have filed complaints, and investigators are examining links between their cases, suspecting they may be part of a larger syndicate operating nationwide.
Broader Warning for Investors
This incident underscores how even well-informed individuals can be deceived when fraudsters manipulate data displays and exploit psychological triggers. Cybercrime experts warn that trading apps with opaque interfaces should be approached cautiously. Authorities urge investors to verify platform legitimacy, demand transparent withdrawal policies, and report any blockage of funds immediately.
Until the case is resolved, victims and potential investors are on alert, seeking to avoid becoming the next targets in this rising tide of online trading scams.
