Over the past few weeks, we have reported several cases of stock trading scams. Dozens of victims have shared their experiences of losing money after joining a finance group on WhatsApp that lured them into investing in trades but ultimately led to financial losses. While most of the cases were linked through conversations on WhatsApp, it seems WhatsApp is not the only platform these scammers use to target victims. In a recent case, a woman from Mangaluru allegedly lost Rs 74.1 lakh in an elaborate online stock market scam.

The victim lost her money after clicking on an advertisement link on Instagram. According to a TOI report, the incident began on March 15 when the victim was browsing Instagram. An advertisement about share trading caught her attention, promising high returns. Attracted by the prospect, she clicked on the link and was directed to a page containing information about share trading.

The advertisement had a contact number, which she messaged out of curiosity. Soon she was contacted via WhatsApp by an unknown person who seemed knowledgeable and credible. This person provided her with a link through which she joined a group called D101 Artemis Seminar Group on the messaging platform.

Within this group, the woman received regular updates and information about online trading, which seemed legitimate and promising. On April 25, she was sent another link to open a trading account with a company called Artemis Profit Trading. The scammer assured her that bigger investments would yield higher returns, which is a common tactic used in fraudulent schemes to trick victims into paying more money.

Initially, the woman was cautious and invested Rs 10,000. However, over time, the lure of high returns and the solid nature of the scam prompted her to invest more money. Between March 15 and July 4, she made several transactions, gradually transferring a total of Rs 73.6 lakh to various bank accounts. Apart from this, she paid Rs 50,000 directly to Artemis Profit Trading Company.

The woman realised it was a scam when she attempted to withdraw her money. Despite multiple attempts, she was unable to access her money. After realising, the victim immediately reported the incident to the Cyber ​​Crime and Economic Offences (CEN). While the case is under investigation, the incident highlights the growing prevalence of online scams and the need for increased vigilance among internet users. Scammers often use social media platforms like Instagram to target unsuspecting individuals, exploiting their curiosity and trust. It is important to be vigilant.

Notably, to help users deal with these scams, WhatsApp recently announced a new context card feature for groups. This feature will provide users with information about the group and will help them decide if they have been added to an unknown group without their consent or by mistake.