Noida Consultant Loses ₹12 Crore in WhatsApp-Based Job & Trading Scam

A Noida-based consultant has reported a staggering loss of nearly ₹12 crore after being trapped in a meticulously designed scam operated through WhatsApp. The fraudsters allegedly acted under the identity of a woman named Kiara Sharma, presenting themselves as experts in online trading and high-return tasks.

A WhatsApp Message Turned Into a Multi-Crore Trap

The fraud began when the victim received a WhatsApp message offering small online “tasks” and investment opportunities with assured profits. To appear legitimate, the scammers added him to multiple WhatsApp groups where numerous participants — later found to be fake profiles — regularly posted screenshots of impressive earnings, successful withdrawals, and motivational messages.

The atmosphere inside the groups was carefully engineered to create trust, urgency, and the illusion of a thriving investment community.

Fake Trading App Used to Build Credibility

The victim was instructed to download a trading-style application presented as a government-certified investment tool.
He initially deposited ₹50,000, and the app quickly showed his account rising to ₹9 lakh — an amount he was even allowed to withdraw once.

This early withdrawal was a psychological tactic — a common red-flag pattern in large-scale cyber-fraud — used to convince victims to invest far larger sums.

Believing the platform was genuine, the consultant made nine high-value transfers over 17 days, amounting to ₹11.99 crore.

Demands Increased; Withdrawals Blocked

Once the victim’s funds were fully invested, the scammers began demanding an additional ₹17 crore, claiming it was necessary to “unlock premium investment tiers.”
When the consultant refused and attempted to withdraw his existing balance, the app blocked all transactions, and communication from the operators ceased.

Realizing the deception, he filed a complaint with the cyber-crime police.

Police Investigation Underway

Authorities have begun tracing the money flow across multiple bank accounts used by the scam operators.
Efforts are ongoing to freeze accounts, identify digital assets, and track the people behind the fraudulent platform and WhatsApp groups.

This case is now among the largest WhatsApp-linked cyber-frauds reported in Noida.

A Growing Pattern of High-Return WhatsApp Scams

Cyber experts note a sharp rise in scams driven by:

• Promises of quick and guaranteed returns

• Fake WhatsApp groups showing fabricated profits

• Fraudulent investment or task-based apps

• Social engineering techniques that mimic legitimate trading platforms

Such scams specifically target professionals, consultants, and business owners with disposable capital.

Shunyatax Global Perspective

This incident highlights the urgent need for stronger digital awareness as well as improved investor safeguards.
Shunyatax Global advises readers to:

• Verify any investment platform before use

• Avoid “guaranteed profit” claims

• Stay cautious of unsolicited WhatsApp messages

• Use only regulated financial instruments for investments

For credible financial intelligence, scam analysis, and compliance insights, visit Shunyatax Global Services - your trusted source for global economic and fraud-risk coverage.