Jodhpur: Amid rising cases of online investment and crypto-related fraud, another major cyber scam has come to light, where a so-called company named ‘Bot Bro’ is accused of defrauding around 200 people of nearly ₹40 million.
Victims allege that the company lured investors by promising fixed monthly returns of 5 to 20 percent and later abruptly stopped all payouts.
Hotel Seminars and Deceptive Social Proof
According to complaints, the network actively attracted investors through large-scale seminars and meetings held in luxury hotels. At these events, so-called beneficiaries were brought on stage to share success stories, creating a false sense of credibility that encouraged more people to invest. Most of the victims are reportedly linked to trading associations and wholesale market groups, with some individuals investing several million rupees.
Reports suggest that one investor alone lost nearly ₹8 million, while many others invested amounts ranging between ₹500,000 and ₹2.5 million. Initially, the company reportedly maintained trust by showing small returns for a short period. However, payments suddenly stopped without any explanation.
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Multi-Brand Operations and Offshore Servers
Victims have further alleged that when they demanded refunds, the company cut off all communication and in several cases changed contact numbers and identities. It has also emerged that the same operation was allegedly running under multiple names such as QFX, YFX, Cross Market, Mine Crypto, Bit Nova, and Bit Capital-X.
Investigations have revealed that the company was not registered in India and was allegedly operating through foreign servers and digital platforms. Early findings indicate that investors were primarily recruited through Telegram channels and fraudulent investment links circulating on social media.
Dashboard Manipulation and Named Perpetrators
Based on a complaint filed by one of the victims, a case has been registered at the Airport police station, naming individuals including Lavish Chaudhary alias Nawab Khan alias Rashid Ali, Brijesh, and Himanshu Khandelwal. It is alleged that fake investors were used during seminars to create artificial credibility, and a system-based investment dashboard with unique IDs was shown to victims.
Cyber experts say such schemes typically follow a fixed pattern, where initial small profits are displayed to build trust, followed by sudden shutdown once a large amount of money is collected. Cybercrime expert and former IPS officer Prof. Triveni Singh stated that “in digital investment frauds, criminals use psychological triggers. They first build trust, then create social proof through fake returns, and eventually disappear after extracting maximum funds. Investing in unverified platforms is the biggest risk.”
Telegram Group Exploitation and Account Tracing
He further added that nearly 99% of investment links circulating on Telegram and similar platforms are suspicious and most do not have any legitimate registration.
According to investigative agencies, the case appears to be part of a larger organized digital investment scam, potentially involving investors from multiple states. Cyber units are now tracking digital transactions, bank accounts, and cryptocurrency wallets linked to the operation.
Officials have indicated that more individuals connected to the network may be identified in the coming days, and further action, including coordinated raids, cannot be ruled out. The investigation is ongoing, and investors have been urged to verify the authenticity of any high-return investment scheme before committing funds.
