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In yet another case of online fraud, an innocent citizen was allegedly duped by fraudsters to the tune of Rs 5 lakh. The incident came to light after Twitter user Nithin Kamath, founder of Zerodha said that someone he knew got scammed and lost money. Kamath shared a slew of tweets explaining how the person he knew got scammed by fraudsters online. He said that it all started with a response to a part-time job offer on WhatsApp. Post this, the person got involved, performed some tasks and even earned Rs 30,000 in his account. However, Kamath said that the person was given a few other tasks which included trading on a mock crypto platform and was asked to transfer real money in order to generate higher returns. He said that his friend transferred more money but when he tried to withdraw the same money, he was unable to do it. In his post, Kamath said that his friend transferred a total of Rs 5 lakh. Finally, Kamath's friend confided with his partner, who realised that it was a big fraud. Following this, the couple reached out to cops who said that many even educated people have also fallen into this trap and even borrowed tens of lakhs and eventually lost the money to such sophisticated scams. Cyber Fraud in Mumbai: Businessman Duped of Rs 7 Lakh by Fraudsters While Shopping for Electronic Parts Online, Case Registered.
Someone I Know Got Scammed and Lost Money
A Telegram group was created with others who claimed to do these tasks.
The next task for the group was to trade on a mock crypto platform, following a bunch of rules. Profits generated were allowed to be withdrawn, even without transferring any real money. 2/8
— Nithin Kamath (@Nithin0dha) May 3, 2023
Guess the Risk Didn't Seem Much
I guess the risk didn't seem much since the money transferred was the Rs 30K earned through the platform.
But greed took over, and more money was transferred, probably due to peer pressure from others in the group who claimed to have made large transfers and profits. 4/8
— Nithin Kamath (@Nithin0dha) May 3, 2023
The Platform Offered a Loan
The platform offered a loan when the person said there was no more money to add. The person finally decided to confide with the spouse about the situation, who almost immediately realized it was a fraud. They reached out to the police for help. 6/8
— Nithin Kamath (@Nithin0dha) May 3, 2023
Cops Share Cases of Sophisticated Scams
The police shared many cases—even well-educated folks borrowing tens of lakhs and losing it in such sophisticated scams.
Everyone is a target, and we need to create awareness. The important thing to remember is that there is no easy way to make a lot of money quickly. 8/8
— Nithin Kamath (@Nithin0dha) May 3, 2023
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