Investment Reviewed 2 July 2026

The trading app showed profits that could not be withdrawn

Every withdrawal request returned a new fee. The group disappeared the day he stopped paying.

Amount lost

₹6,40,000

Recovered: Nil
Reported by: Anonymous Surat, Gujarat

How it happened

An acquaintance added him to a WhatsApp group where a 'research team' posted daily stock calls. The calls were accurate for two weeks, because they were posted after the market moved. Members shared profit screenshots all day.

He was asked to install an app from a link, not from the Play Store, to access an institutional allotment. ₹50,000 became ₹71,000 on the dashboard in nine days. A small withdrawal of ₹10,000 came through, which convinced him to add more.

At ₹6,40,000 invested and ₹9,10,000 shown, the withdrawal required a 20% 'settlement tax' paid upfront. He refused. The group was deleted within a day and the app stopped opening.

Step by step

Added to a WhatsApp group posting stock calls after the market had moved.

Members post profit screenshots continuously; most are part of the operation.

App installed from a link, outside the Play Store.

A small withdrawal is allowed, to establish trust.

Large withdrawal blocked behind an upfront 'tax'; group deleted.

Was it reported?

Yes

If this just happened to you

1930

National cyber crime helpline

How to report a fraud

Related fraud type

Trading and crypto group fraud

This account was submitted by a reader and reviewed by our moderation team. Names, numbers and identifying details have been removed. It is published for awareness and is not a legal record.

What this teaches

A dashboard showing profits is not a statement. Check whether the entity is registered with SEBI.
The one small successful withdrawal is a cost the fraudster budgets for.
No tax on gains is ever collected in advance by a broker.

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