Pune, 4th May 2026: In a sharp rise in cyber fraud cases, Punekars lost ₹9.31 crore in April after falling victim to fake stock trading schemes promising quick profits. A total of 24 cases were reported, affecting individuals across all age groups, from an 18-year-old to a 71-year-old.
Cybercriminals targeted victims through fake advertisements on social media platforms such as Facebook and Instagram. Interested users were added to WhatsApp groups where scammers initially provided small returns to build trust. Victims were then persuaded to download fake trading apps that displayed high virtual profits.
Once victims saw fake gains, they invested larger amounts. However, when they tried to withdraw money, they were asked to pay additional charges such as processing fees or taxes. At this stage, it became clear that the profits were fake and the money was gone.
Police investigations revealed that the stolen money was routed through multiple bank accounts linked to shell companies. It was later converted into cryptocurrency and transferred abroad. Several IP addresses connected to the fraud were traced to locations such as Hong Kong and Dubai.
The fraud impacted both men and women, with a higher number of cases among working professionals. Women from areas like Shewalwadi, Vadgaon Budruk, Pisoli, and Viman Nagar collectively lost over ₹3.46 crore, while male victims accounted for losses of around ₹5.85 crore.
Young individuals were also affected, including an 18-year-old who lost ₹4.21 lakh and a 25-year-old who lost ₹21.71 lakh. The highest number of victims were in the 31–50 age group, mainly professionals and businesspersons.
Senior citizens also suffered major losses, including a 71-year-old who lost ₹37.3 lakh and another elderly victim from Wanowrie who lost nearly ₹1 crore.
Areas such as Magarpatta, Kharadi, Viman Nagar, Balewadi, Nanded City, and Wadgaon Sheri reported a higher number of cases. These localities, known for their IT workforce and financial stability, appear to have been specifically targeted by scammers.
Authorities have urged citizens to remain cautious while investing. Only SEBI-registered advisors should be trusted, and investment tips from unknown WhatsApp or Telegram groups should be avoided. Trading apps must be downloaded only from official app stores.
Victims of cyber fraud should immediately report the incident by calling the national helpline number 1930 or contacting the Cyber Police Station in Shivajinagar, Pune. Prompt reporting can help authorities take quick action and possibly trace the stolen funds.