Indian Fraudsters Target Elderly Victims in Fake Crypto Trading Schemes
Indian scammers are escalating schemes targeting elderly victims, luring them with promises of easy profits through fraudulent crypto trading platforms. A recent case involved a 64-year-old retired banker from Secunderabad who lost over Rs. 1.25 crore ($137,000) to a bogus trading app called 'Capstone.'
The fraudsters operated via a WhatsApp group named 'Team B Club Internship Group 39,' where members shared fabricated screenshots of investment gains. Victims were coerced into downloading the Capstone app, only to have their funds disappear once the scammers severed communication.
Authorities note these schemes exploit the desperation and trust of elderly investors, with losses often realized too late. The incident underscores the risks of unverified crypto platforms and the need for heightened vigilance among vulnerable demographics.
