How One Instagram Click Made a Man Lose Nearly Half Crore?

A Mumbai resident has fallen victim to a cybercrime, losing Rs 46.4 lakh. The 40-year-old victim, who works as a manager in a tech company,filed a complaint with the police. Mumbai’s North Region Cyber Police have registered a case and launched an investigation to nab the culprits. 

According to reports, when the victim clicked on an Instagram post, he was automatically added to a WhatsApp group named ‘5 Paisa J03 Value Investment Portfolio’. There were more than 171 members in the group. 

Subsequently, one of the group admins contacted him privately and urged him to install and use a mobile application ‘FIVE PAISA SES’ if he wishes to invest and earn profit through stock trading. 

The victim installed the suggested app, created an account and started receiving required assistance from the group admins and their associates on trading activities. He was asked to deposit funds into the system for trading purposes in order to earn profits. The victim continued this trading activity for over a month and witnessed nearly Rs 1.62 crore as profits were accumulated in the virtual wallet. 

When he attempted to withdraw the amount, the request was declined. Subsequently, he contacted the admins and their associates who informed him that his account had been blocked as he had allegedly violated the rules. They told him if he wanted to regain access to his funds, he needed to pay a penalty of Rs 44.64 lakh.