A resident of Bhuj in Gujarat’s Kutch district has lost more than Rs 16 lakh after getting caught in a WhatsApp-based stock market scam. The case shows how online investment frauds are becoming harder to spot, especially when they play out slowly and appear routine. Also Read: WhatsApp Bans Nearly 10 Million Indian Accounts Every Month: Government Raises Concerns Over Misuse and Lack of Transparency
The victim, Ajitsinh Jadeja, works with a private firm and has now approached cyber police after realising he was misled over several weeks by people he did not know, all through WhatsApp. 
Also Read: This Person Made Scammer Beg With The Help Of ChatGPT, Here’s How
How The Scam Started
According to police, the incident began in April when Jadeja was added to a WhatsApp group by an unknown number. The group presented itself as an investment advisory forum. Every day, it shared stock tips, market updates, and screenshots claiming steady profits. Nothing seemed out of place at first, and the messages were framed in a way that made the group look credible. Also Read: Doctor Loses 36 Crores After Clicking A Facebook Ad Of Fake Investment Scam: How To Stay Safe
In early July, Jadeja received a link to an online form through WhatsApp. After filling it out, he was asked to download a mobile application using another link. This app later became the centre of the scam.
Small Gains That Built Trust
Between July and August, Jadeja transferred money in instalments to different bank accounts shared by the group. He started with a small amount of ₹5,000. Soon after, he received a slightly higher return. That early payout convinced him the process was genuine, and he went on to invest larger sums.
Things took a turn when the people behind the scheme claimed that an IPO investment had been successful. He was shown figures inside the app suggesting profits and was told a loan of ₹18 lakh had been credited to his wallet. However, when he tried to withdraw the amount, the transaction failed. He was then told that he needed to deposit ₹9 lakh before the withdrawal could be processed. That is when the situation began to look suspicious.
Complaint And Police Action
Realising he may have been cheated, Jadeja contacted the cybercrime helpline number 1930 and later filed a formal complaint with cyber police. A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act. Police are now working to identify those involved and trace the bank accounts used in the fraud.
How To Stay Safe
Scams like this usually don’t start with big demands. They build confidence first.
- Be cautious if you are added to WhatsApp groups by unknown numbers offering stock tips
- Avoid clicking on links or downloading apps sent by unverified contacts
- Never share OTPs, verification codes, or personal details over chat
- Be wary of profits shown only inside an app, especially if withdrawals keep failing
- If you are asked to pay more money to withdraw your own funds, stop and verify
- Step back if the process starts feeling confusing or rushed
If you suspect fraud or have already transferred money, report it immediately via the cybercrime helpline at 1930. Early action can sometimes help reduce further loss.
