Azamgarh: A major cyber fraud involving a fake online trading platform has been uncovered in Uttar Pradesh’s Azamgarh, where two accused have been arrested for allegedly cheating a family of around ₹1.5 crore by promising to double their money through an online trading app.
The arrests were made following a complaint filed by the victim. The two accused were apprehended near the Semraha underpass in the Rani Ki Sarai area. Authorities recovered two mobile phones, ₹5,000 in cash, and a car from their possession.
Preliminary investigation revealed that the accused had created social media groups to lure people into investing money through a fraudulent trading and gaming application.
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Victims trapped through social media networks
The complainant Abdullah, a resident of Asad Colony in the Sidhari area, alleged that Mohd. Haris, Naz Khan, Mohd. Nadeem, Mohd. Fazil, and Ashraf had approached him with an offer to invest in online trading.
According to the complaint, the accused claimed that investments made through a platform called “Qutex” trading-gaming app could generate high returns and even double the invested amount in a short period.
To build credibility, the accused added the victim’s mobile number to several social media groups, where screenshots showing supposed trading profits and successful investments were regularly shared.
Initially, the victim was persuaded to invest a small amount. Later, the accused convinced him to invest larger sums by promising higher profits. Through links and digital payment channels, the victim and his family members transferred money multiple times to accounts suggested by the accused.
Family members also persuaded to invest
According to the complaint, the accused gradually built trust with the victim, convincing him that the trading platform was genuine. As a result, the victim also encouraged his family members to invest in the scheme.
Over time, through multiple transactions, nearly ₹1.5 crore was transferred to bank accounts and digital wallets linked to the accused.
For some time, the platform continued to show fake profit figures, giving the impression that the investment was growing. However, when the victim attempted to withdraw the money, the accused allegedly began making excuses and delaying the process.
Suspecting fraud, the victim eventually filed a complaint, prompting authorities to launch an investigation.
Two accused arrested during investigation
After the complaint was registered, authorities began tracing digital transaction trails and mobile numbers connected to the fraud.
During the operation, two accused—Mohd. Haris and Abu Fazil—were arrested. Authorities also seized mobile phones, cash, and a car from them.
Investigators are now analyzing the seized devices and digital records to trace financial transactions linked to the fraud. Officials believe that more individuals may be involved in the network, and efforts are underway to identify and apprehend other suspects.
Experts warn about rising trading scams
Cybersecurity experts say that fake trading platforms and investment apps have become one of the fastest-growing forms of cyber fraud in recent years.
Fraudsters often use social media groups, messaging platforms, and online advertisements to lure victims by promising unusually high returns in a short period.
Shikha Singh, a cybersecurity expert at the Center for Police Technology, said that such scams typically rely on social engineering techniques. According to her, fraudsters first build trust with victims and gradually pressure them into investing larger sums of money.
She advised people to verify any trading platform or investment opportunity carefully before transferring money and avoid trusting unknown links, apps, or individuals promising quick profits.
The incident once again highlights the importance of vigilance and verification while making digital investments, as even a small lapse in caution can result in significant financial losses.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
