High-stakes online trading scams cost Coimbatore residents ₹1.65 crore.
August 14, 2025, Coimbatore Three Coimbatore residents, one of whom is a woman, have been defrauded of an incredible ₹1.65 crore in separate online trading scams, which serves as a terrifying reminder of the expanding scope of cyber fraud.
Scammers Promise Wealth, Deliver Ruin
According to the Coimbatore Cybercrime Police, victims were lured through slick social media ads and WhatsApp messages promising high returns from stock market and cryptocurrency investments. Once hooked, they were directed to fraudulent trading platforms that displayed fake profits to gain trust.
Little Steps, Huge Losses
Investigators claim that after initially requesting modest investments—sometimes as little as ₹5,000—victims were shown a fictitious portfolio growth. Scammers demanded extra “processing fees” and “tax payments” when they tried to withdraw their money, eventually erasing their life savings.
Cases Filed, Kingpins Search Continues
In addition to filing separate FIRs, police are tracking down IP addresses, foreign bank accounts, and digital payment trails connected to the crimes. Authorities believe the operation is being carried out by a global cybercrime network with agents spread across several nations.
According to a senior police officer, “these are not lone wolf scammers—they are part of a highly organized syndicate targeting Indians in Tier-2 and Tier-3 cities.”
The Cost in Emotions
A 42-year-old businessman who was one of the victims told police that he sold family gold to satisfy the con artists’ demands because he thought he would soon triple his money. Rather, he lost everything.
Public Warning
Police advise the public to stay away from unreliable investment apps and to keep in mind that SEBI is the regulatory body for legitimate trading platforms in India. Additionally, they emphasize that no legitimate investment plan promises rapid, substantial returns.
Cybercrime units are coordinating with Interpol for cross-border cooperation as part of the ongoing investigation.
