Indian Police Probe $15,000 Online Trading Scam Linked to Fake Digital Gold and Nasdaq Investments

Indian law enforcement authorities have opened an investigation into an online trading fraud that caused losses of approximately $15,000, after cybercriminals lured an investor through a social media advertisement and later extracted funds through staged investment opportunities and fabricated trading profits. Police say the case reflects the increasingly organized structure of online investment fraud networks operating through messaging apps, fake trading portals, and layered payment channels.

Social Media Recruitment and WhatsApp Manipulation

According to the complaint filed with police, the victim encountered a Facebook advertisement promoting an online trading platform in December 2025. After submitting contact information through the advertisement link, the victim was contacted on WhatsApp by an individual identifying himself as “Siddharth Vipul.”

The suspect provided guidance on trading through a website and instructed the victim to transfer funds through payment links and bank transfers. Initial deposits of roughly $250 and $575 were made in December, after which the trading dashboard displayed apparent profits, reinforcing the legitimacy of the platform.

Escalating Deposits Through Fake Investment Opportunities

After gaining the victim’s trust, the fraudster promoted additional investment opportunities, claiming that digital gold trading and Nasdaq-linked investments would generate significantly higher returns. The victim subsequently transferred approximately $6,000 via bank transfer in January, followed by another $6,000 weeks later to a different account.

The scammers later demanded an additional $2,200, claiming it was required to secure trading positions and protect earlier profits. Following these transactions, the platform displayed a balance of 76,528 USDT, creating the impression that the investment had generated substantial cryptocurrency-denominated profits.

Withdrawal Blocked and Additional “Tax” Demands

When the victim attempted to withdraw funds, the request was rejected. The suspect then demanded a 15% tax payment on the alleged trading profits before releasing the funds. Suspicious of the demand, the victim requested official tax documentation but received none, prompting the realization that the investment platform was fraudulent.

Financial Crime Investigation Underway

Police have registered a cybercrime case and begun tracing bank accounts used to receive the transfers, along with digital evidence including WhatsApp communications and the trading website infrastructure.

BrokersVew warns investors to verify the regulatory status of trading platforms before transferring funds and to avoid unsolicited investment offers circulated through social media advertisements or messaging applications.