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11,000 crore scam claiming to make profits in stock trading

Mumbai, Nov. 30-A scam worth Rs 11,000 crore has been committed in India in the last nine months by spreading information through social media platforms like WhatsApp and Telegram, claiming to lead people to invest in the stock market and earn high profits, according to Nitin Kamath, CEO of Zerodha.
11,000 crore scam claiming to make profits in stock trading
Share market scam

Recently, a software engineer from Bengaluru, who received a message on his WhatsApp number in the name of investing in the stock market, invested up to Rs 91 lakh in various stages.

The value of his investment was shown to be Rs 1.50 crore in a few days.

At one point, he realized that he had been cheated and filed a complaint with the cyber police when he tried to withdraw the invested money.

Nitin Kamath, who also shared this information on his social media, further said:

Such scams are on the rise. In the last nine months alone, frauds worth Rs 11,000 crore have been committed.

It is scary to think about what will happen if fraudsters use artificial intelligence technology next.

The only way to protect yourself is to not associate yourself with unknown people and unwanted groups.

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