Noida: A major cyber fraud case has emerged in which a 37-year-old resident of Sector 53 allegedly lost ₹56.93 lakh after being lured into a fake stock market investment scheme operated through a WhatsApp group. The victim was gradually convinced to invest large sums after being shown fabricated profit claims and manipulated trading data.
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WhatsApp Group Used to Build Trust
According to police, the victim was added to a WhatsApp group on February 9, where members regularly shared screenshots of alleged stock market gains and promoted a so-called “guided investment plan.” The group administrator later introduced him to a mobile application that was claimed to be designed for professional trading and assured high returns.
Initially, the victim invested ₹50,000 as a test amount. Shortly after, he reportedly saw fake profit updates displayed on the application interface, which built his confidence in the scheme. Encouraged by these manipulated results, he continued investing in multiple instalments over time.
In total, the victim transferred ₹56.93 lakh through 24 separate transactions. However, when he attempted to withdraw his funds, he was allegedly asked to pay additional charges and processing fees. Despite repeated follow-ups, he received no clear response, and communication with the group eventually stopped.
Fake Trading App and Profit Claims
Realizing something was wrong, the victim independently investigated the matter and discovered inconsistencies in the investment platform and group activity. He then approached the Cyber Crime Police Station and filed a formal complaint.
Police have registered a case against unidentified accused persons under relevant sections of cheating and impersonation under the Bharatiya Nyaya Sanhita. Officials said that a detailed investigation is underway, including tracing the digital money trail and identifying bank accounts used in the transactions.
Preliminary findings suggest that the fraud may be part of a larger organized cybercrime network operating through social media platforms and fake trading applications. Such networks typically build trust by showing small fake profits in the beginning and later trap victims into investing larger amounts before cutting off contact.
Digital Money Trail Being Traced
Cyber experts say WhatsApp-based investment scams have become increasingly common, where fraudsters create groups that appear legitimate by sharing fake profit screenshots, trading charts, and testimonials. These groups often rely on psychological manipulation to convince victims that quick and guaranteed profits are possible.
Experts further explain that the mobile applications used in such scams are usually controlled by fraud operators, allowing them to fabricate account balances and profit statements in real time. Once significant money is deposited, withdrawal requests are either blocked or tied to additional fake charges.
Authorities also noted that scammers often route money through multiple bank accounts to obscure the origin and destination of funds, making recovery and tracking difficult. Investigators are currently analyzing transaction records and digital footprints to trace the network behind the fraud.
Police have issued an advisory urging the public not to trust unknown investment groups on messaging platforms or social media, especially those promising fixed or unusually high returns. Officials emphasized that legitimate financial investments never guarantee assured profits and always involve market risk.
