Pune Cybersecurity Expert Falls Victim to ₹73 Lakh Online Trading Scam

In an ironic twist highlighting the growing sophistication of cybercriminals, a Pune-based cybersecurity expert — someone who helps others stay safe online — has himself become a victim of a large-scale online share trading scam, losing ₹73.69 lakh within a month.

According to the complaint filed with Pune City’s Cyber Crime Police Station, the victim, who works with a private IT firm, was deceived through a fraudulent share trading application after being lured into a WhatsApp group that promised “high-return” investment tips.

The ordeal began in August, when the man received a WhatsApp message from an international number containing a seemingly harmless link. The moment he clicked on it, he was added to a group with more than 100 members — all actively discussing stock trading and posting screenshots of massive profits they claimed to have earned through a trading app promoted in the group.

The group’s administrators, posing as financial experts, gradually gained his trust by conducting virtual sessions and sharing “exclusive” market insights. They convinced him to register on a trading platform that appeared authentic and even had an interface resembling legitimate brokerage apps.

Over the following weeks — between August 8 and September 1 — the victim was persuaded to make 55 separate transactions, transferring a total of ₹73.69 lakh into various bank accounts under the guise of “margin money” and “investment deposits.” These accounts, later identified as mule accounts, were spread across multiple cities, including Chennai, Ulhasnagar (Thane), Bhadrak (Odisha), Ferozepur (Punjab), Pimpri-Chinchwad, and Gurugram.

By the time the victim realised that withdrawals from the app were disabled and the “experts” had vanished from the WhatsApp group, it was too late. His life savings were gone.

Cybercrime officials said this case reflects a disturbing trend. Over the past two and a half years, cyber police stations across Maharashtra — including Pune and Pimpri-Chinchwad — have seen a sharp rise in such online trading scams.

“Fraudsters typically lure victims by offering investment advice, hosting virtual lectures, and promoting fake mobile apps that promise unusually high returns. Once the victim deposits large sums, the scammers disappear, and the money is routed through multiple mule accounts,” said a cyber officer.

Police have launched an investigation to trace the financial trail and identify the masterminds behind the operation. Meanwhile, cyber experts are urging the public to be cautious.

“Even the most tech-savvy individuals can fall for psychological manipulation. Always verify the authenticity of investment platforms, avoid clicking on unknown links, and never trust WhatsApp or Telegram groups offering guaranteed profits,” an officer added.

The incident serves as a sobering reminder that in the digital age, no one is completely immune to cyber fraud — not even those trained to prevent it.