AI Trading Scams: Cyber Threats Empty Your Bank Accounts, Trap Funds in Wallets with 30% Profit Promise

In light of the increasing activity of cyber fraudsters, Vadodara residents using social media are urged to exercise caution. These scammers often present enticing offers of part-time jobs or investment opportunities, promising a hefty 30% profit. However, falling for such schemes could lead to the loss of lakhs or crores of rupees from individuals’ accounts. 

While your wallet may reflect substantial earnings, the reality may be far from it. These cyber criminals can’t transfer the promised earnings to your account, leaving you deceived and potentially facing significant financial losses. 

Every month, Vadodara witnesses around 60 cases of individuals falling victim to task frauds, prompting the need for assistance from cybercrime police. It’s crucial for social media users to remain vigilant, verify offers thoroughly, and report suspicious activities to prevent becoming victims of cyber fraud.

Warning Against Financial Fraudulent Activities on Unauthorized Links: Vadodara Cyber Crime SP

Warning Against Financial Fraudulent Activities on Unauthorized Links: Vadodara Cyber Crime SP

Mayursingh Rajput, the SP of Vadodara Cyber Crime, has issued a warning to the public urging them to refrain from engaging in any financial transactions on unauthorized links. It has come to their notice that various social media platforms such as Facebook, Instagram, Telegram, and WhatsApp are being used to advertise tempting offers for engaging in various online tasks and blocking funds in the share market through unauthorized links. 

Many individuals are falling prey to these schemes by borrowing money or taking loans, ultimately facing significant financial losses. Therefore, it is emphasized that any financial transactions on unauthorized and insecure links should be avoided, and citizens are urged to keep themselves safe from cybercrime.

Modus Operandi of Cyber Fraud Targeting Individuals

Cyber gangs are using social media to send messages offering part-time jobs and investment opportunities. After obtaining your consent, they’ll ask you to subscribe to a link where you’ll be assigned 20 tasks per day, with the first 16 tasks promising a reward of Rs. 50 each. 

This is communicated along with the provision that you’ll be given four additional ‘prepared tasks’. Before starting the tasks, you’ll be required to fill in your personal data and receive a salary verification code. 

Through this code, you’ll be assigned tasks worth Rs. 1000, Rs. 3000, and Rs. 5,000, offering approximately a 40% increase in the initial task reward. Following this, you’ll be added to a Telegram group. Beware of such fraudulent schemes aiming to extract personal information and deceive individuals online.

Lure of all schemes for investment

Beware of Cryptocurrency Trading Scam: Request for Account Joining Screen Capture

You might receive a task explanation requesting your bank account details to initiate your initial tasks. After transferring money to your bank account to tempt you, you’ll be offered larger tasks. 

You’ll be instructed to deposit the task’s funds via a UPI ID and provide an investment code and a website link like ( Following this, you’ll be asked to join a cryptocurrency trading account by entering your email ID and password into the website. Please be cautious as this could be a scam.

Beware of Cryptocurrency Trading Tasks: Target for Completing Compulsory Tasks

You may receive tasks related to trading in cryptocurrency. These tasks require completion within 180 seconds, and it is emphasized to fulfill compulsory tasks within the specified time limit. 

Failing to complete tasks within the time limit will result in not receiving any payment, as it indicates a potential scam targeting individuals who fall into the trap of not completing tasks on time. Upon completing one task, the amount for subsequent tasks increases, and in the process, you may end up losing a significant amount without receiving any refunds. 

This is indicative of systematic investment fraud. Stay cautious and avoid falling victim to such schemes.

Email Scams

Investment Scam through Share Market Manipulation via Fake Websites

Cyber criminals reached out to an individual through an unknown number on Telegram channel, offering a link to join a group related to stock market classes. In this group, potential investors were provided with information about the share market and were promised substantial profits if they invested according to the instructions provided. 

They were assured of earning 30% profit, with the scammers taking a 15% commission. Subsequently, the victim was provided with a link in the Telegram channel, which upon clicking, led to a fraudulent website where they were asked to share their bank details and investment code. 

This incident highlights the dangers of falling victim to investment scams orchestrated by cybercriminals who manipulate individuals through false promises and fraudulent schemes. It’s crucial to remain vigilant and verify the authenticity of investment opportunities before sharing personal information or making any financial transactions.

Victim Made Deposits After Becoming a Member on the Fraudulent Website

Victim Made Deposits After Becoming a Member on the Fraudulent Website

After becoming a member on the fraudulent website by providing their username and password, the victim proceeded to deposit funds and started trading on the platform. Initially, upon receiving small profits, the victim gained confidence and deposited larger amounts, believing in the legitimacy of the platform. 

However, after depositing the funds, the victim realized they were deceived, as the promised returns were not materializing, and attempts to withdraw the money were met with resistance. This highlights the financial losses incurred by individuals who fall victim to fraudulent schemes under the guise of investing in the stock market through fake websites.

Scam Involving Payment for Fake Part-Time Job Opportunities

Cybercriminals devised a scheme where individuals were promised to earn Rs. 50 by providing ratings for hotels and restaurants through WhatsApp messages. Believing the message to be genuine, the victims followed the instructions and provided ratings as requested. 

Subsequently, the cybercriminals provided a code and instructed the victims to contact a receptionist via a Telegram channel. The victims were required to provide basic information such as name, WhatsApp number, age, gender, occupation, village, and bank details to the receptionist. 

After providing these details, the victims were asked to deposit Rs. 150 into the account provided by the receptionist, purportedly for processing. Following the initial payment, upon providing additional ratings, the victims were instructed to transfer Rs. 225 into the account of the individual managing the scam.

Fraudulent Scheme Involving Merchant Welfare Task

After completing three tasks, the fraudsters demanded Rs. 2,000 for a “merchant welfare task.” The victim transferred the amount via Google Pay. During this time, the fraudsters added the victim to a Telegram group. 

Subsequently, the receptionist instructed the victim to contact a teacher. The teacher provided the victim with an investment code and instructed them to register on a website. After registration, the fraudsters coerced the victim into depositing large sums of money for various tasks. 

Moreover, they falsely promised higher returns on the profits earned from the tasks, persuading the victim to deposit more money. Eventually, the victim did not receive any returns, falling victim to financial fraud.

Online Trading Scheme Under the Pretext of Product Purchase

The cybercriminals sent a message to the victim on WhatsApp containing a link. Clicking on the link opened an APK file named “SENEE TRADER,” which facilitated online trading of products. 

Promising quick returns, the victim invested Rs. 1,000 after registering their mobile number. Subsequently, the victim received another link on WhatsApp. Clicking on it added the victim to a WhatsApp group named “9131 SENEE Official Group.”

Alluring Schemes for Investment

In this group, various schemes for investment were presented, enticing the investor with promises of lucrative returns. Seduced by the prospects, the investor ventured into investments. 

Subsequently, every fortnight, a new product would be launched on the SENEE Trader application, and the investor would purchase these products, often accompanied by conditions promising higher returns upon completion of a certain tenure. 

Payments were to be made via the UPI ID within the application. Over six months, the investor heavily invested in these products, all purchased through the application. However, when the investor attempted to input their details into the application, it failed to open on their mobile device, alerting them to the possibility of fraud. 

Fortunately, the investor had refrained from disclosing large sums for trading, thus avoiding significant financial losses.

Social Media Page Following Commission Scheme

Cyber fraudsters added the investor to a WhatsApp group named “EZRANKING DIGITAL PARTNER INDIA.2.” In this group, a message was circulated claiming that individuals could earn between 2,000 to 5,000 rupees by working part-time for two hours. 

The task involved following pages on Facebook and Instagram, for which participants would receive a certain amount per page followed. 

They were required to provide screenshots of the followed pages in 50 Telegram groups as proof, upon which the participants would receive their payment. The investor fell victim to this scheme and carried out the tasks as instructed.

Scam: Commission Deposited into Bank Account, then Data Stolen

Cyber fraudsters messaged the investor, providing a Telegram link for contact. The investor, following the instructions, shared bank account details. Subsequently, commissions from various tasks were deposited into the investor’s bank account. 

Trusting the process, the investor followed a link provided, creating an ID and password for registration. With the lure of higher commissions for different tasks, the investor was enticed to provide more data. 

However, the cybercriminals, after collecting the data, did not fulfill their promise of further payments, leading to financial loss for the investor.

Scheme: Making Money through Trading with AI

Cybercriminals sent a WhatsApp message to investors, promising higher returns through trading with Artificial Intelligence (AI). 

Subsequently, investors were added to various WhatsApp groups where they were persuaded to invest a small amount of money, promising significant returns. Later, investors received a link and were instructed to create a user ID and password for registration. 

The fraudsters then provided trading tips, claiming lucrative profits from trading, thereby gaining the investor’s trust.

Fraudulent Trading Platform Leads to Losses

After being lured into trading on the same platform as the fraudster, investors were promised increasing profits with each trade. Consequently, investors deposited money into the fraudster’s account and were guided through the platform where the fraudster would show them profits. 

The investors were then instructed to transfer small amounts of profits to the fraudster’s bank account. As investors continued to invest more funds, they realized that despite the application showing significant profits, they were unable to withdraw substantial amounts. This realization led to suspicion and eventual exposure of the fraudulent scheme.

Exercise Caution with Money-making Advertisements

Be cautious of advertisements promising easy money through various means:

  1. Following Celebrities on YouTube: Avoid schemes that encourage you to follow celebrities or rate hotel pages in exchange for money. Such offers often turn out to be fraudulent schemes aimed at exploiting your trust.
  2. Commission through Telegram Channels: Exercise caution when joining Telegram channels that promise commissions for completing tasks. These channels may be fronts for scams where you could end up losing money instead of earning.
  3. Crypto Trading (Bitcoin): Beware of high-return promises in crypto trading, especially with Bitcoin. While it’s possible to make money through crypto trading, it’s also volatile and risky. Avoid schemes that guarantee quick profits with minimal effort.
  4. Following Pages on Instagram: Similar to YouTube, be wary of schemes on Instagram that offer money for following pages. These schemes often exploit your engagement to benefit themselves without delivering on promised rewards.

Always remember to conduct thorough research and exercise skepticism before participating in any money-making schemes advertised online.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.