In a disturbing case of digital deception, a prominent chartered accountant in Lucknow has fallen prey to a meticulously crafted cryptocurrency scam. Posing as a philanthropic entrepreneur on Facebook, the fraudster siphoned off nearly ₹1.93 crore through a fake investment scheme run via a WhatsApp-linked portal. The case underscores how educated professionals, too, are vulnerable to new-age financial frauds.
From Consultation to Con: The Digital Mask of Trust
What began as an innocent professional outreach quickly spiraled into a shocking financial nightmare for Shalabh Pandey, a respected chartered accountant based in Lucknow, Uttar Pradesh. It all started when a woman identifying herself as Bhavika Shetty contacted him via Facebook, claiming she was looking for a CA to advise on financial planning for her proposed school and old-age home project in Kolkata.
However, the narrative quickly shifted. Shetty soon introduced herself as an expert in cryptocurrency investments, boasting high returns and insider knowledge of digital assets. Citing impressive profits and offering bonuses, she lured Pandey into a scheme that would eventually rob him of ₹1.92 crore.
What’s more unsettling is the emotional manipulation layered into the fraud: Bhavika created a relationship of trust, mixing social good with financial gain. Her story was as believable as it was calculated, blurring the lines between professional networking and predatory deceit.
The Scam Engine: WhatsApp Portal and Fabricated Gains
The fraud was operationalized through a WhatsApp-integrated portal: https://amexus.cc/mobile, which gave the illusion of a legitimate trading platform. Starting with a modest ₹50,000 investment on April 26, 2025, Shalabh Pandey was shown fake dashboards, returns, and trading metrics that consistently depicted gains.
Over time, the platform used psychological levers bonuses, profit screenshots, and limited-time offers—to entice him into making larger and more frequent deposits. Every digital cue, from platform aesthetics to WhatsApp communication, was designed to maintain credibility and urgency.
Eventually, Pandey had transferred a total of ₹1,92,92,000, believing he was on the cusp of a large payout. When he finally requested a withdrawal, the platform denied access, citing false technicalities and then went dark. Only then did the realization dawn that he had been thoroughly conned.
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Cybercrime Surge and Institutional Silence
Pandey has since filed a complaint with the Cyber Crime Police Station, Lucknow, sharing complete details of the fraudulent website, WhatsApp interactions, and transaction records. However, the case is just one among hundreds of digital investment scams mushrooming across Uttar Pradesh, where cybercriminals continue to exploit the unregulated grey zones of cryptocurrency and social media-fueled fraud networks.
The case raises urgent questions:
- How do such fake crypto platforms continue to operate unchecked?
- Why is there no central mechanism to verify such investment schemes in India?
- And how can even educated, cautious professionals fall into these traps?
In the aftermath, Pandey’s ordeal serves as a stark reminder that cybercriminals are refining their tools faster than our defenses are evolving. They now wear digital suits, speak the language of finance, and know just how to target vulnerabilities—emotional and financial alike.
As cyber frauds continue their upward spiral, law enforcement, regulatory bodies, and tech platforms will need more than just awareness campaigns—they’ll need coordinated action, tighter regulations, and real-time fraud detection frameworks.
Conclusion: Not Just a Scam, But a Systemic Breakdown
This is not an isolated incident it’s part of a larger, deeply entrenched ecosystem of digital deceit. The blending of social engineering with emerging tech, such as cryptocurrency, has created a fertile ground for fraudsters who operate across borders, devices, and jurisdictions.