In a shocking case of cyber fraud, a Chandigarh resident fell prey to an elaborate online investment scam that cost him more than ₹15 lakh. The incident, which unfolded over several weeks, highlights how cybercriminals are using sophisticated tactics to exploit people’s desire for quick returns in the digital age.
The Trap: Too Good to Be True
It all began when the victim — a 38-year-old working professional — came across an advertisement on social media promising high returns through cryptocurrency and stock investments. The post, designed with sleek visuals and a fake company logo, appeared genuine and claimed to be associated with a reputed global trading platform.
The ad redirected him to a WhatsApp number, where a woman posing as a “financial advisor” introduced herself as a representative of an international investment firm. She assured him that with a minimal investment, he could earn daily profits of up to 15–20%.
At first, the victim was skeptical, but after receiving screenshots of supposed “successful withdrawals” from other investors, he decided to test the platform with a small investment of ₹10,000.
Within a few days, his account dashboard showed a return of ₹12,000, which was even credited to his wallet. Encouraged by the apparent success, he decided to invest more.
The Gradual Trap: Building Trust
Once the scammers gained his trust, they convinced him to make larger deposits in order to unlock “premium investment tiers.” These tiers promised higher profits, special trading insights, and bonus returns during “market surges.”
Over the next two weeks, the man transferred money in multiple transactions through UPI, bank transfers, and even cryptocurrency wallets, totalling ₹15.3 lakh.
The fake investment portal continued to show rising profits — at one point, displaying a balance of ₹22 lakh. However, when he tried to withdraw his earnings, the website prompted him to pay a “processing fee” of ₹1.2 lakh to release the funds.
That’s when doubts began to surface.
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The Realization: When Reality Hit Hard
When he refused to pay the additional charges, the so-called customer support team became unresponsive. The WhatsApp number was blocked, and within hours, the website stopped loading altogether.
Alarmed, the victim searched online for the company’s name and discovered multiple complaints from others who had fallen victim to the same platform. He immediately approached the Cyber Crime Cell in Chandigarh and lodged a complaint.
Officials later confirmed that the scam was part of a larger organized cyber fraud network operating across multiple states and even using international payment channels to evade detection.
How the Scam Worked
Investigators revealed that the fraudsters used a well-coordinated strategy combining psychological manipulation, fake online platforms, and technical deception.
Here’s how the operation typically functions:
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Baiting through social media ads: Scammers post attractive investment offers on platforms like Facebook, Instagram, and Telegram.
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Fake company setup: They create convincing websites mimicking real investment firms, complete with “live dashboards” showing fake profits.
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Social engineering: “Financial advisors” contact victims via WhatsApp, Telegram, or email, often using AI-generated profile pictures and fake IDs.
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Initial payout: To build trust, scammers release a small amount of profit at the beginning.
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Bigger deposits: Once the victim is hooked, they’re urged to invest large sums.
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Disappearance: After receiving significant funds, the fraudsters vanish — deleting chat histories, shutting down the site, and blocking victims.
Police and Cybercrime Response
According to Inspector Rajesh Rana, head of the Chandigarh Cyber Crime Cell, the case has been registered under sections of the Indian Penal Code (IPC) and the Information Technology (IT) Act. “We are tracking the flow of money through digital wallets and bank accounts. Preliminary findings suggest that the scam’s operators are based outside India, using proxy servers and mule accounts to launder the funds,” he said.
Authorities have also sent requests to UPI platforms, banks, and cryptocurrency exchanges to freeze accounts associated with the fraudulent transactions.
Cybercrime officials believe that such scams are increasing as online investments and digital payment systems become more mainstream.
A Growing Trend in Online Fraud
India has seen a sharp rise in online investment and trading scams in recent years. According to data from the National Crime Records Bureau (NCRB), cyber fraud cases involving fake investment schemes rose by over 80% between 2021 and 2024.
Experts say scammers exploit human psychology — especially greed and trust. As digital finance apps, trading platforms, and crypto exchanges grow, many people are drawn to the promise of fast profits without fully verifying the authenticity of the source.
Expert Opinions: Why People Fall for It
Cybersecurity expert Ritesh Bhatia says that scammers increasingly use AI-driven tools to create highly convincing websites and fake testimonials.
“These frauds are no longer just crude phishing attempts. They look professional — the logos, dashboards, and even customer support chatbots feel real. Victims don’t realize they’re being manipulated until it’s too late,” he explained.
He added that even educated professionals are falling victim because the scammers speak fluent English, use financial jargon, and mimic genuine trading language.
How to Spot an Online Investment Scam
Authorities have urged citizens to exercise extreme caution before investing online. Here are a few red flags that can help identify such scams:
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Unrealistic returns: Any platform promising “guaranteed” or unusually high profits (10–20% daily) is almost always fake.
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Pressure tactics: Scammers often urge quick decisions, claiming “limited-time offers.”
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Unverified apps or links: Only use verified trading platforms listed on the RBI or SEBI websites.
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Requests for personal details or extra fees: Legitimate platforms never ask for upfront “processing” or “withdrawal” fees.
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Lack of physical presence: If there’s no verifiable office address or contact number, it’s likely a scam.
What To Do If You’re Scammed
Victims are advised to immediately:
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File a complaint at cybercrime.gov.in or call the 1930 Cyber Helpline.
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Contact their bank to freeze further transactions.
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Preserve all digital evidence — screenshots, chat logs, and transaction receipts.
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Avoid paying any additional money, even if the scammers claim it’s needed for refunds.
Early reporting significantly improves the chances of recovering funds or tracing the perpetrators.
The Aftermath
The Chandigarh victim, though emotionally shaken, has decided to speak out publicly to warn others.
“They were so professional and convincing that I didn’t doubt them for weeks. I hope no one else has to go through this,” he said.
Cyber officials have since issued a public advisory reminding people to verify all investment opportunities, especially those shared through social media or messaging apps.
The case stands as yet another reminder of how quickly trust can be exploited in the digital world — and how essential awareness and skepticism have become in the age of online finance.
Conclusion
As India moves rapidly toward a digital-first economy, cyber hygiene and awareness must evolve just as fast. Scams like these aren’t just financial crimes — they are emotional and psychological manipulations targeting everyday users.
The loss of over ₹15 lakh in this single case is a painful reminder: in the online investment world, if something sounds too good to be true, it probably is. Vigilance, verification, and timely reporting remain the best defenses against these digital predators.