Hyderabad, Sept.30 (NSS): A 38-year-old man from Hyderabad saw an advertisement for gold share trading on Instagram. He clicked on the link provided and was added directly to a WhatsApp group. After observing the group for a month, he made his first investment. The scammers shared a trading link (https://www.dotgold.net/index/user/bill.html) and asked the victim to complete the necessary formalities on the platform. He logged in by entering his mobile number, name, and bank details. The victim traded for two weeks and initially earned a good profit, even successfully withdrawing some money. Gaining confidence, he began to invest more. The scammers guided him on how to trade gold, and he joined a WhatsApp group called “A07-Rogers Premium VIP Stock Sharing Club,” which had 60 members.
After a while, the victim saw profits reflected in his Dot Gold trading account. However, when he tried to withdraw his funds, he was unable to do so. The scammers told him that he needed to pay 40% of the trading amount before he could withdraw. Trusting them, the victim paid the 40% and successfully withdrew his money. Encouraged, the scammers informed the victim that he could now trade without limits as the gold market was low.
The victim continued trading, and his funds appeared to increase in the Dot Gold account. At this point, he created a separate WhatsApp group, contacted other members of the Dot Gold Trading app, and shared information, confirming that the platform appeared genuine. He continued investing, and the amount in his account grew. One day, when he attempted to withdraw again, he was once more unable to do so. He contacted the scammers, and they informed him that he needed to pay an additional 40% commission, central tax, and capital gains tax before he could withdraw his funds within three hours. Growing suspicious, the victim stopped trading, having already paid the 40% commission twice along with other taxes. In total, the victim lost Rs 9, 56,167. Victim made online complaint for help.
Cybercrime police cautioned the public that fraudsters approach victims through various online social media platforms i.e. Telegram, WhatsApp, X, Instagram, and Face book by advertising Fake investment app / websites. Such schemes are fraudulent and do not have SEBI’s endorsement. Always ask to a SEBI registered financial advisor before investing. Fraudsters are using simple tactics to lure gullible investors with promises of high returns and Fake profit screenshots.
After, they will credit a small amount in the victim’s account to gain the victim’s confidence. Never believe the promises of huge returns. In case they become victims of cybercrime fraud, dial 1930 or by visiting cybercrime.gov.in immediately. In case of any emergency of cybercrime frauds, call or WhatsApp 8712665171.
