Do you use OLX to sell your old stuff? If yes, then you need to be very cautious before making a transaction on the app. Siddharth, a 27-year-old software engineer from Bengaluru, recently found himself in such a troublesome situation. He lost nearly Rs 2 lakh to online fraud after a routine sale of an air cooler.

According to a report published in The Times of India, on August 29, Siddharth decided to sell his air cooler and listed it on OLX at a price of Rs 5,200. Within minutes of posting the ad, he received a call from a man who identified himself as Srikanth Verma and claimed to be the owner of an old furniture showroom in Whitefield. The conversation seemed straightforward: Verma showed interest in buying the cooler and said he would handle the payment first, with the goods being picked up later.

However, the payment process took a strange turn. Verma sent Siddharth a QR code of Rs 5 and asked him to scan it to receive the payment. Siddharth scanned the code and received Rs 5. But the real trouble started when Verma sent another QR code of Rs 5,200.

This time, instead of receiving the money, the same amount was debited from Siddharth’s account. Verma immediately sent another QR code, calling it a technical glitch. Eager to solve the problem, Siddharth scanned the new code, but found that more money had disappeared from his account.

Despite realising the fraud, Siddharth’s attempts to get his money back were unsuccessful. Each QR code sent by Verma resulted in more money being withdrawn. In total, Siddharth lost over Rs 1.9 lakh from his bank accounts. Siddharth did not become suspicious until Verma asked Siddharth to add a bank account as a beneficiary. He decided to block his account and reported the incident to the cyber helpline and the local police.

Similarly, a 31-year-old vice president at an investment banking firm also fell prey to a QR code scam the same day. His wife had listed an inverter and battery for sale on OLX. The scammer posing as the buyer sent QR codes, which initially seemed to confirm payment, but eventually resulted in Rs 46,000 being stolen from the couple’s account.

These incidents underscore the growing complexity of online fraud and the urgent need for vigilance. While Siddharth’s case is under investigation and efforts are being made to freeze the scammer’s account, this story serves as a stark warning: always confirm transactions and be cautious when dealing with unfamiliar contacts online.