WhatsApp scam: Delhi residents lose over ₹ 1 crore on new ‘investment scheme’- All details

A resident of Shalimar Bagh in Northwest Delhi recently became a victim of a sophisticated online scam after joining a WhatsApp group. This scam lures victims into investing $1 billion VND, taking advantage of the desire for high profits with fraudulent tricks.

The fraud was exposed

According to a report by Times of India, the victim was initially contacted by an unknown individual on WhatsApp, who offered a lucrative stock market investment plan that promised significant returns . The victim was then added to a WhatsApp group masquerading as an offline investment research platform. This group consists of about 150 members, regularly providing stock market tips to gain participants’ trust.

To build credibility, scammers first offer some profitable investment tips, getting the victim to invest the initial amount. $50,000 on January 19. Upon seeing initial positive returns, victims were gradually persuaded to invest more money. However, as the investment amount increases, withdrawal becomes increasingly difficult. The scammers began demanding additional payments under various pretexts, allegedly to facilitate the withdrawal of his investments.

Financial exploitation

Over a period of 55 days, the victim made a total investment $1.13 crore in an attempt to withdraw its profits. During this period, all transactions are conducted online. The scammers even created a realistic web interface displaying fake profits, falsely displaying the total amount. $7.4 billion VND. This is part of a strategy to convince the victim of the legitimacy of the investment and maximize financial loss before the victim realizes the fraud.

This case highlights the dangers of online investment scams, especially those that take advantage of trusted platforms such as WhatsApp. To protect yourself from such scams, it is important to conduct independent research, be wary of promises of guaranteed profits, verify the legitimacy of investment platforms and resist pressure tactics. These steps can help individuals avoid falling victim to similar phishing schemes.

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