Pune cybersecurity expert loses ₹73 lakh in WhatsApp trading scam: Here’s how it happened

A Pune cybersecurity expert lost ₹73 lakh in a WhatsApp trading scam. Here’s how a professional lost his senses to bad actors.

A cybersecurity professional from Pune has fallen victim to a sophisticated online investment scam, which led him to lose Rs. 73.69 lakh. Despite his knowledge of online safety, he was tricked into transferring money to multiple bank accounts in cities such as Chennai, Bhadrak, Ferozepur, Ulhasnagar, Pimpri-Chinchwad, and Gurugram. The case highlights the rising number of fake trading platform scams circulating in India, which attract people with promises of high returns.

A Pune cybersecurity expert lost ₹73 lakh in a WhatsApp trading scam.

By MD Ijaj Khan

Ijaj Khan is a technology journalist and Senior Content Producer at Hindustan Times, with over three years of experience covering the consumer technology industry. His work spans smartphones, laptops, wearables, gaming, appliances and AI - from hands-on reviews, comparison and buying guides to breaking news and in-depth features that help readers cut through the noise and make informed decisions. Before joining HT Tech, he worked with Jagran New Media, where he sharpened his instincts for fast-paced digital reporting. He holds a Post Graduate Diploma in English Journalism and Mass Communication from the Indian Institute of Mass Communication (IIMC), Delhi. Whether he's testing the latest flagship smartphone, tracking a major AI announcement, or putting a gaming laptop through its paces, Ijaj approaches every story with the same goal - making technology feel relevant and easy to understand for everyday users, not just enthusiasts. When he's not in front of a screen for work, he's usually travelling to a new city, hunting for great food, or keeping tabs on what's next in tech before everyone else catches on.

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How the Scam Unfolded

The incident began in August when the victim received a WhatsApp message from an international number containing a link. Clicking the link added him to a group chat with over 100 members sharing screenshots of alleged profits from a stock-trading app. The group administrator instructed him to fill out a registration form and log into the app, claiming he would receive exclusive trading guidance.

Between August 8 and September 1, the victim made 55 separate transfers totaling Rs. 73.69 lakh to various accounts across several cities. When he attempted to withdraw his reported balance of Rs. 2.33 crore, the scammers demanded a 10% tax payment before processing the withdrawal. Only then did the victim realize he had been defrauded and filed a complaint with the Pune Cybercrime Police.

Warnings from Authorities

Investigators say these scams often appear as legitimate investment communities on WhatsApp or Telegram. Scammers impersonate SEBI-registered advisors or foreign investors and ask users to download apps that imitate genuine trading platforms. Victims believe they are trading real stocks or IPOs until the apps disappear when they attempt to withdraw funds. Despite repeated warnings from SEBI and law enforcement, these scams continue to affect even trained professionals.

Steps to Avoid Similar Scams

Authorities advise citizens to verify investment platforms, avoid unsolicited financial offers, and never transfer money to unknown accounts. Additional precautions include updating device security, using strong passwords and two-factor authentication, monitoring bank accounts for unusual activity, and staying informed about the latest online scams.