Telegram-Based Forex Scam Impersonates GO Markets, Defrauds Ahmedabad Couple of ₹10.8M
An Ahmedabad contractor and his wife were allegedly defrauded of over ₹10.8 million in a Telegram-based forex trading scam, lured by promises of high returns from currency pair trades.
According to a complaint filed with the Cyber Crime Police Station, the victim discovered forex scalping videos on YouTube in early July, which led him to forums like Forex Factory and references to “GO Markets.” A Google search directed him to gomrktsusm.com, which linked to a Telegram account named “GO Markets Global CS”.
After creating a Telegram ID and communicating with “GO Markets Global CS”, he began trading pairs such as EUR-USD, BTC-USD, and GBP-USD under their guidance. On July 4, an account was opened, and a ₹50,000 deposit made on July 7 appeared as $625 in his trading account. A ₹8,000 withdrawal was credited to his Axis Bank account, which built his trust.
Between July 7 and August 30, the couple transferred funds via RTGS and IMPS to 11 bank accounts shared by the fraudsters. Individual transfers ranged from ₹50,000 to ₹2 million, totaling ₹10.8 million.
The complainant alleged that separate trading accounts were created in both names using their Aadhaar and email IDs. However, each withdrawal attempt triggered new “deposit requirements,” and neither the principal nor profits were returned.
The accused operated anonymously via Telegram. Police have registered a case over cheating and criminal conspiracy, and are investigating multiple mule accounts used to siphon funds.
BrokersView Reminds You
When researching a broker, always verify its official website—do not rely solely on Google search results, which may display impersonator domains. GO Markets is a regulated broker, and its official domain is https://www.gomarkets.com. The site gomrktsusm.com is likely a clone of GO Markets.
Legitimate brokers do not operate via messaging apps like Telegram or WhatsApp, and any promises of guaranteed returns or “exclusive trading guidance” are classic scam tactics.
For details about a broker, verify here to avoid falling for scams. If you’ve been targeted or defrauded, Submit a Complaint to BrokersView.
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