WhatsApp Stock Trading Scam Costs Noida Man Rs 12 Crore: Here’s How To Stay Safe

A 50-year-old Noida resident has reportedly lost Rs 12 crore to a stock trading scam after being tricked by cybercriminals posing as market experts. Police said the man, an engineering consultant from Sector 47, transferred the money over several weeks after being convinced he would receive high returns on his investments.

According to officials, the fraud began on October 17 when the victim received a WhatsApp message from an unknown woman urging him to invest in the stock market. Soon after, he was added to an online group where members regularly posted screenshots of alleged profits to make the platform appear legitimate. The victim was then asked to download an app that was shown to him as a reliable trading platform promising high returns.

He began by putting in Rs 50,000 and later kept increasing the amount as members in the group continued urging him to invest more. Over time, he transferred nearly Rs 12 crore across nine transactions. Police said the scammers even credited Rs 9 lakh back into his account at one point to strengthen his trust in the platform.

The fraud came to light when the victim was asked to invest an additional Rs 17 crore to buy into an IPO. When he finally tried to withdraw some of the money, he realised the funds were locked and he couldn’t access anything. Realising he had been cheated, he filed a complaint on the National Cyber Crime Reporting Portal (NCRP).

A case has now been registered at the Cybercrime Branch police station under relevant sections related to cheating and impersonation. Police teams are now tracking the flow of money and working to identify the bank accounts where the transfers were made.

Tips to Stay Safe from Stock Trading Scams

1. Ignore unknown investment messages – Legit platforms don’t approach users on WhatsApp or Telegram.
2. Don’t install apps from shared links – Use only official app stores for trading apps.
3. Be wary of profit screenshots – Scammers often use fake earnings to build trust.
4. Verify the platform before investing – Check registration details and reviews before sending money.
5. Report issues early – If withdrawals fail or you feel pressured, stop and alert authorities.