Bengaluru techie duped of ₹44 lakh in Telegram-to-WhatsApp stock trading scam: Report

Between August 1 and September 17, the Bengaluru man invested a total of ₹44.2 lakh in three transactions sent to different accounts.

In an yet another case of cybercrime in Bengaluru, a 46-year-old software engineer from Horamavu lost a staggering ₹44 lakh after falling prey to a fake stock-trading scam that began with a false medical emergency alert.

The East CEN Crime police have registered a case under the IT Act and BNS Section 318 (cheating).

The victim received a Telegram message on July 11 claiming that someone was in critical condition at a hospital and urging him to rush there. Believing it to be a genuine emergency, he replied that he was not the right contact. The sender, introducing herself as Reeva Chauhan, thanked him for the response, Times of India reported.

What started as casual messaging on Telegram soon shifted to WhatsApp, including voice calls. Over several weeks, Reeva gained the victim's trust and learned personal details about him. She claimed to work for a stock market firm and promised quick profits through investments.

On July 31, she shared a trading platform link, OSL Trade, and guided the victim in setting up an account. He initially invested ₹50,000. Within days, ₹4,950 was credited back to his account, convincing him of the platform’s legitimacy.

Between August 1 and September 17, he invested a total of ₹44.2 lakh in three transactions: ₹20 lakh, ₹12 lakh, and ₹12.2 lakh, sent to different accounts provided by the fraudsters. His dashboard even showed profits mounting to ₹24 lakh. However, when he tried to withdraw his funds, the system blocked the transaction, demanding additional investments, the report further added.

After explaining that he had exhausted his savings, the fraudsters cut off all communication. Realising he had been duped, the victim reported the case to the cybercrime helpline and filed a complaint on September 22.

The East CEN Crime police have registered a case under the IT Act and BNS Section 318 (cheating). Officers said efforts are underway to trace the fraudsters and freeze the accounts.