In an recent cyber fraud news a 37-year-old IT engineer from Ulhasnagar has lost over Rs1 crore in online trading fraud. As per reports, victim received a message on X (Twitter) in November 2025, he was subsequently contacted by the user who persuaded him to open a trading account with a company. Following initial investments and withdrawals of credited returns, he transferred Rs1.05 crore via multiple online transactions to fraudster-provided beneficiary accounts between December 23 and February 4.
Despite the trading app showing profits of nearly Rs3 crore, his withdrawal requests were repeatedly declined. The caller, upon being confronted, demanded an additional Rs30 lakh for withdrawal processing. When the victim refused, the caller became evasive and stopped responding.
Realizing he had been defrauded, the victim filed a cyber crime complaint.