Fake Capitalix Scam Found in India, Local Investors Lose at Least ₹260 Million

On Thursday, Indian authorities in Kerala issued a warning about an investment scam impersonating forex broker Capitalix.

Fraudsters reportedly post false advertisements on social media platforms promising high returns. In some cases, they use AI technology to create videos of public figures, making the purported investment scheme appear credible.

Scammers typically invite investors into WhatsApp or Telegram groups, claiming to offer trading tutorials. They then encourage investors to download an app named “CAPITALIX” from app stores.

Fraudsters also direct victims to register trading accounts on fake websites like capitalix.in and trade.capitalix.in. These sites claim to offer various trading services but are merely parts of the scam.

To gain investors' trust, scammers initially allow small withdrawals. Once investors invest more into the platform, they restrict trading and demand additional fees for withdrawals.

According to local police, the fake Capitalix scam has caused losses of ₹260 million to local residents.

BrokersView reminds you

In this investment scam, fraudsters impersonated Capitalix, an online trading brand operated by 4Square SY Ltd. This compliant broker is regulated by the Seychelles Financial Services Authority (FSA).

Additionally, Capitalix received a warning from the Securities Commission (SC) of Malaysia in 2024. Investors should remain vigilant about the risks.