In an alarming series of events, three residents of southeast Bengaluru, two of whom are senior citizens, have fallen prey to digital deception, each losing over ₹1 crore to cyber fraudsters within just 10 days this March.
According to FIRs filed at the Southeast CEN police station between March 16 and 26, the combined financial loss across all three cases amounts to a staggering ₹3.9 crore. Two of these cases revolved around sophisticated investment scams, while the third involved unauthorized UPI transactions.
Case 1: The Mirage of Digital Wealth
A 41-year-old man found himself trapped in a cunning web after being invited to a WhatsApp group named “ACI Stratergy Club”. The Cyber fraudsters lured him with seemingly promising stock market tips and convinced him to download an app by the same name through an APK file. Over time, he was manipulated into investing, ultimately losing a jaw-dropping ₹1.7 crore.
Case 2: Wisdom Didn’t Save the Elder
In another heartbreak, an 83-year-old man lost ₹1.1 crore in a similar ploy. He was added to a group named “QuantasAIS”, where supposed fellow investors flaunted fake screenshots of massive returns. The illusion was so convincing that he too downloaded the app and invested through it—only to watch his savings vanish.
A senior police officer tracking cybercrimes shared insights into the modus operandi. Fraudsters typically create WhatsApp groups with around 8–10 potential victims. Members, who are actually part of the scam ring, pretend to be successful investors, luring victims by showcasing fabricated profits. Once the bait is taken, APK files linked to fake trading apps, designed to imitate real platforms, are shared, and the deception unfolds.
While authorities attempt to pull down these deceptive apps, the digital hydra resurfaces each time with a new disguise.
Case 3: A Vanishing Act Through UPI
In a separate, unsettling case, a 67-year-old woman—who had sold her property earlier in 2024 and deposited ₹1.1 crore in her account—was in for a rude shock. When she checked her balance in March, it had mysteriously dwindled to just ₹300. Investigators revealed that the money was siphoned off via multiple UPI transactions. While initial suspicions hint at a new cyber fraud method, authorities are also probing the possibility of familiar OTP manipulation tactics being at play.
These cyber incidents stand as a grim reminder that cyber criminals are evolving with terrifying speed, using technology to build illusions of trust while draining victims dry, emotionally and financially.
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