NOIDA: Noida has reported what police describe as its biggest-ever cyber fraud, where a Sector-47 based consultant was deceived into investing nearly ₹12 crore in a sophisticated online trading scam. The case began innocuously with a WhatsApp message from an unknown number and gradually unfolded into a meticulously executed financial trap.
A WhatsApp Text That Triggered a Multi-Crore Scam
On October 17, 2025, consultant Indrapal Singh received a WhatsApp message from a woman identifying herself as ‘Kiara Sharma’, claiming to be a seasoned stock market expert. The initial conversation focused on potential high-profit stock trading opportunities.
Over the next few days, Singh was convinced that he had connected with a legitimate professional offering genuine financial insights.
Fake Groups, Fake Profits, and Manipulated Trust
The scammers added Singh to two WhatsApp groups:
- Sundaran AMC – Stay Positive
- 111 Sundaran AMC – Infinite Possibilities
These groups were populated with multiple fake profiles that regularly posted manipulated profit screenshots, fabricated trading testimonials, and encouraging comments to build credibility. The coordinated activity in the groups was designed to make the scheme look like an authentic community of successful investors.
SDAMCMAX: A Counterfeit Trading Platform Presented As “Government Certified”
The group administrators persuaded Singh to download SDAMCMAX, a fake trading application marketed as a “certified trading platform.”
Singh initially invested ₹50,000. Within days, the app displayed a skyrocketing balance of ₹9 lakh, which he was even allowed to withdraw—an intentional move by the fraudsters to strengthen trust.
This engineered “success” became the psychological trigger that made Singh fully believe the scheme was genuine.
₹12 Crore Lost: Nine Transactions, Multiple Accounts, Zero Returns
Over the next 17 days, the fraudsters intensified the operation. Singh was promised guaranteed daily returns and commissions up to 15%.
Encouraged by the early “profits,” he made nine major bank transfers, sending a total of ₹11.99 crore to various accounts provided by the scammers. Each account led to a different destination, making the money trail difficult to follow.
Demand for an Additional ₹17 Crore Raises Red Flags
When the scammers attempted to push Singh to invest an additional ₹17 crore, doubts finally surfaced. His repeated attempts to withdraw funds from the app were unsuccessful. Realizing he had been cheated, Singh approached the Cyber Crime Police Station and filed an FIR.
Police Action: Accounts Identified, Funds Being Frozen
ADCP Cyber Crime confirmed that several bank accounts used by the fraudsters have been traced. Authorities are working to freeze remaining funds and uncover the broader criminal network behind the fake app, fraudulent groups, and money-routing channels.
Why WhatsApp-Based Investment Frauds Are Rising
- Easy Access, Personal Messaging Advantage: WhatsApp’s private and direct communication format gives scammers an upper hand in gaining emotional and psychological trust.
- Manipulated Social Proof: Fake groups, coordinated comments, and fabricated screenshots create a powerful illusion of authenticity that can influence even financially literate users.
- Proliferation of Unregulated Apps: Fraudulent trading apps like SDAMCMAX imitate real platforms, confusing inexperienced investors.
- The Lure of “Guaranteed High Returns”: Promises of 15–20% assured profits attract investors seeking quick gains, making them easy targets.
