A software engineer living in Greater Noida West has become the latest victim of a sophisticated online trading scam, losing ₹50 lakh after cybercriminals lured him through a WhatsApp group that promised high daily returns on stock market investments. Police say the gang operated under false identities and used manipulated dashboards to build trust before disappearing with the money.
The victim, employed with a private company in Gujarat and currently working remotely from Noida, first received a call on September 20 from a man identifying himself as Praveen Patel, a “cyber expert.” The caller added him to a WhatsApp group full of fabricated profit screenshots and coordinated messages meant to create the illusion of genuine market analysis.
The engineer was persuaded to begin with an initial investment of ₹50,000. Within two days, ₹9,000 appeared in his account—an early return designed to establish legitimacy and trigger confidence. Encouraged by group members repeatedly posting fake earnings, he transferred increasingly larger sums over the next 20 days, eventually reaching a total loss of ₹50 lakh.
But when he attempted to withdraw his principal and so-called profits, the fraudsters abruptly vanished. The WhatsApp group was deleted, numbers were switched off, and all channels of communication disappeared.
Realising he had been duped, the victim filed a complaint via the National Cybercrime Reporting Portal. An FIR has now been registered at Noida’s Cyber Crime Police Station. ADCP (Cyber) Shavya Goyal confirmed that an investigation is underway to trace the accounts and digital footprints used by the scammers. She urged citizens to remain cautious of trading or investment “opportunities” circulated through WhatsApp or Telegram groups—methods increasingly used by organised cyber syndicates.
Police noted that fraud groups often simulate trading platforms, display fake gains, and use psychological nudges to push victims into repeatedly investing larger amounts. Officials reiterated that any genuine investment platform should be verified through official financial regulators before money is transferred.
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