Retired engineer duped of ₹1.28 crore by fake WhatsApp crypto trading app
A 65-year-old retired engineer in Miyapur lost approximately ₹1.28 crore (~$130,000) after being recruited into a WhatsApp group promoting a counterfeit DBS crypto trading app. Scammers operating as group analysts and figures named “Professor Rajat Verma” and “Meena Bhatt” persuaded the victim to install a fake trading app hosted at ggtkss.cc, promising exclusive block trades, high-quality IPO allocations and guaranteed returns. Trust was built by allowing a small permitted withdrawal (₹5,000) after an initial deposit; between November 4 and December 5 the victim made multiple bank and UPI transfers exceeding ₹1.2 crore, including an IPO subscription. When he attempted to withdraw the balance, operators demanded a 20% withdrawal fee and then froze his account. Cyberabad cybercrime police registered a case under several sections of the Bharatiya Nyaya Sanhita and the IT Act. Authorities warn traders to verify platform credentials and regulatory approvals, be sceptical of guaranteed-return or exclusive-access pitches, confirm app sources (avoid unknown domains like ggtkss.cc), enable bank/UPI alerts, and report suspicious activity promptly.
Neutral
The incident describes a social-engineering fraud using a fake crypto trading app rather than a protocol-level vulnerability or issue with a specific cryptocurrency. There is no mention of a particular coin or token being compromised, exploited, or delisted — the loss arose from fiat transfers and a counterfeit platform. Therefore the direct price impact on any cryptocurrency is likely minimal: traders may become more cautious, but the story does not trigger selling or buying pressure on a specific token. Short-term effects could include heightened vigilance among retail crypto users and temporary negative sentiment toward crypto-related apps and WhatsApp recruitment channels. Long-term impact is limited unless similar scams scale or target a particular blockchain project; regulators and platforms may increase scrutiny of off‑ramps and marketing channels, which could influence businesses but not coin prices directly.