Mumbai Man Loses Rs 11 Crore in Trading App Scam

A businessman from Mumbai became the victim of a massive online trading scam, losing nearly ₹11 crore. The fraud began when he was introduced to a trading app that looked genuine and promised high returns. The app showed fake profits and manipulated dashboards to convince him that his investments were growing. Encouraged by these fabricated numbers, he kept adding more money over time.

The victim trusted the platform because it appeared professional and even offered customer support. However, when he tried to withdraw his funds, the app blocked access and stopped responding. By then, he had already invested crores, believing the profits displayed were real.

Investigations revealed that the app was fake and designed only to cheat investors. Fraudsters used psychological tricks, showing quick gains to trap him into investing more. Once the money was transferred, they disappeared, leaving him with huge losses.

This case highlights the growing danger of online financial scams in India. With digital trading becoming popular, fraudsters are exploiting people’s trust in technology. Experts advise investors to use only verified platforms, check regulatory approvals, and avoid apps promoted through unknown sources. Awareness and caution are the only shields against such sophisticated scams.