A series of cyber fraud cases in Faridabad has exposed a growing network of online investment scams that are exploiting social media platforms and messaging apps to target unsuspecting victims. Fraudsters are reportedly using fake stock trading schemes, IPO promises, and impersonated brokerage firms to siphon off large sums of money from individuals.

Retired BSNL Officer Loses Over ₹52 Lakh in Fake Trading Scheme

In one of the most significant cases, a 69-year-old retired BSNL official, Ashok Kumar Verma, was allegedly defrauded of ₹52.3 lakh through a fraudulent investment scheme promoted via a Facebook advertisement.

The ad, which claimed to represent a trading platform named “Quanta Pulse Trading Company,” promised high returns from stock market investments. After responding to the advertisement, the victim was gradually convinced through fake documents, investment dashboards, and email confirmations that appeared legitimate.

Between April 2025 and February 2026, the victim reportedly made 40 separate transfers to multiple bank accounts controlled by the scammers. The fraud came to light when he attempted to withdraw his funds and was instead asked to pay additional charges. Once he refused, communication was abruptly cut off.

The victim later reported the matter through India’s cybercrime helpline (1930) and filed a formal complaint with authorities.

WhatsApp IPO Scam Targets Investor With Fake Brokerage Claims

In another case, a resident of Sector-15A, Karun Talwar, was targeted via WhatsApp by scammers posing as representatives of a registered brokerage firm. The fraudsters promised high profits through IPO and stock market investments without requiring a Demat account.

Believing the offer to be genuine, the victim transferred approximately ₹17.5 lakh in multiple installments after borrowing money and liquidating savings. He later realized the scheme was fraudulent when further payments were demanded.

Multiple Bank Account Frauds Reported in Separate Incidents

Two additional cases highlight the expanding scope of digital banking fraud in the region:

• A resident of NIT, Dheeraj Dhingra, reported unauthorized deductions totaling ₹93,000 from his bank account while attempting a routine transfer. He suspects his mobile device may have been compromised.
• Another victim from Atali village, Vinesh, discovered an unauthorized debit of ₹99,000 from his rural bank account, with no prior authorization or awareness of the transaction.

Growing Use of Social Media and Messaging Apps in Cyber Fraud

Investigators note that the cases collectively point to a coordinated pattern of cyber fraud operations that rely heavily on social media advertisements, messaging platforms, and impersonated financial services. Fraudsters are increasingly using polished marketing content, fake documentation, and staged investment portals to build trust and prolong victim engagement.

Authorities have confirmed that multiple First Information Reports (FIRs) have been registered, and detailed forensic investigations are underway. Cybercrime units are analyzing banking transactions, digital footprints, mobile data, and communication records to trace the fraud networks involved.

Police Warn of Rising Digital Investment Scams

Officials have warned that such scams are becoming more sophisticated, often combining psychological manipulation with professional-looking digital interfaces to deceive investors. Authorities also stressed the importance of verifying investment platforms and avoiding unsolicited financial offers received via social media or messaging apps.

Investigations are ongoing, and officials believe additional victims linked to the same fraud networks may come forward as awareness increases.

A major cybercrime investigation in Noida has uncovered two separate but potentially interconnected criminal operations involving large-scale cryptocurrency theft and an international SIM card trafficking network linked to fraud syndicates operating overseas. Authorities say both cases highlight the growing sophistication of digital financial crime networks.

Alleged Multi-Crore Crypto Theft from Corporate Wallets

In the first case, investigators are probing allegations of a major cryptocurrency theft involving a Noida-based company engaged in foreign exchange and digital asset services. The firm is reportedly linked to a joint venture known as “5ire Technology,” which was established in 2021 and claimed rapid growth in the blockchain sector.

According to the complaint, multiple digital wallets containing investor funds were collectively managed by company stakeholders. These wallets reportedly held cryptocurrencies including Bitcoin and USDT.

The complainant alleges that unauthorized transfers took place after a business meeting abroad, during which access controls were allegedly compromised. Following this incident, substantial digital assets were reportedly moved to unidentified accounts over several months.

Several individuals associated with the company have been named in the complaint, and a formal investigation has been launched by the Noida Cyber Police. Authorities are now analyzing blockchain transactions and digital wallet activity to trace the movement of funds.

SIM Trafficking Network Linked to Cambodia-Based Cyber Fraud

In a separate case, police in Noida arrested a man from Gurugram accused of supplying Indian SIM cards to international cyber fraud groups operating from Cambodia.

The investigation began after a victim lost approximately ₹85 lakh in a “digital arrest” scam. Tracing the mobile number used in the fraud led investigators to an e-SIM that had been activated through a telecom distribution channel and later routed to overseas operators.

Authorities allege that the accused played a role in sourcing and activating SIM cards that were subsequently used in large-scale online fraud schemes targeting victims in India and abroad.

Cross-Border Cybercrime Links Under Investigation

Law enforcement officials believe both cases reflect a broader pattern of organized cybercrime involving cryptocurrency theft, identity misuse, and telecom infrastructure abuse. Investigators are examining whether the SIM trafficking network and crypto theft operation are part of a wider international fraud ecosystem.

Digital forensics teams are currently reviewing wallet transfers, telecom activation records, and banking transactions to establish potential links between domestic facilitators and overseas cybercriminal groups.

Growing Threat of Digital Financial Crime Networks

Cybersecurity experts note that such cases underscore the increasing convergence of cryptocurrency fraud and telecom-based identity exploitation. Criminal networks are reportedly leveraging anonymous digital wallets alongside SIM-based identity systems to execute and mask financial crimes at scale.

Authorities have indicated that further arrests and disclosures are possible as the investigation expands.

A cyber fraud incident involving senior Indian journalist Ajit Anjum has highlighted the growing misuse of hacked messaging accounts to execute financial scams. The incident occurred after attackers compromised a WhatsApp account and used it to request money from known contacts, ultimately leading to financial losses before the deception was uncovered.

Hacked Account Used to Request Emergency Payments

According to reports, the scam began when the WhatsApp account of journalist Prabhakar Mani Tiwari was compromised by unknown attackers. The hijacked account was then used to send urgent messages to contacts, claiming that a UPI payment system had been blocked and requesting immediate financial assistance.

Believing the request to be genuine, Anjum reportedly instructed his team member to transfer funds through multiple QR codes shared in successive messages. The fraud continued through repeated payment requests until suspicions were raised after several transactions.

In total, approximately ₹11,000 was transferred before the scam was identified and stopped.

Fraud Discovered After Direct Phone Verification

The deception came to light when the journalist contacted the original account owner through a direct phone call. During the conversation, it was confirmed that the WhatsApp account had been hacked and that other individuals had also received similar payment requests from the attackers.

This verification exposed the scam as part of a broader pattern of account takeover fraud, where cybercriminals impersonate trusted contacts to manipulate victims into sending money.

Experts Warn Against Impersonation-Based Cyber Scams

Cybersecurity experts emphasize that such attacks rely heavily on trust and urgency. Once an account is compromised, attackers often send urgent financial requests to multiple contacts simultaneously, increasing the likelihood of successful fraud.

Security specialists recommend verifying any unexpected money request through direct voice or video calls before taking action. They also advise users to be cautious of repeated QR code payment instructions, which are increasingly used in digital payment scams.

Growing Trend of Messaging App-Based Financial Fraud

Incidents like this reflect a wider rise in messaging platform fraud, where attackers exploit social media and communication apps to impersonate known individuals. These scams are often difficult to detect in real time due to the personal nature of the communication.

Authorities continue to urge users to remain vigilant and verify identities before transferring funds, even when requests appear to come from trusted contacts.

Conclusion

The case underscores how compromised messaging accounts can quickly be turned into financial fraud tools. As cybercriminals increasingly target communication platforms, experts stress that verification remains the strongest defense against impersonation-based scams.