Kalaburagi Senior Loses Rs 2.2 Crore in Sophisticated Auto Trading Cyber Fraud
In a distressing case of cybercrime, a 63-year-old retired employee of Gescom in Kalaburagi has been cheated of a staggering Rs 2.2 crore by fraudsters who lured him with promises of high returns through an auto trading investment scheme. The victim, identified as Dattappa Surapur, a resident of Akkamahadevi Colony in Kalaburagi, fell prey to this elaborate scam after encountering an advertisement while browsing social media.
How the Scam Unfolded: From Initial Contact to Massive Losses
According to the police complaint, the incident began on June 11, 2025, when Dattappa came across an advertisement related to 'auto trading' while watching reels on a social media platform. Intrigued by the prospect of easy profits, he clicked on the link and provided his personal details. Shortly after, he was contacted by an individual who introduced himself as Arun Joshi, who skillfully persuaded him to invest in a platform named 'Quanta Pulse'.
The fraudsters employed a classic tactic to build trust: Dattappa initially invested Rs 12,000 and started receiving daily profits ranging from Rs 500 to Rs 800. This consistent return boosted his confidence in the scheme, leading him to invest a larger sum of Rs 2 lakh. Following this investment, his online account reportedly showed an inflated profit of Rs 4 crore, creating a false sense of wealth.
The Trap Tightens: Demands for Taxes and Additional Payments
When Dattappa attempted to withdraw Rs 1.3 crore from the displayed profits, he received an email stating that Rs 80 lakh needed to be paid towards taxes and other charges to enable the withdrawal. Trusting the instructions, the victim transferred Rs 80 lakh in multiple stages. The fraudsters later informed him that the amount had been converted into Indian currency and credited to his account, but the money never materialized.
In a further twist, the scammers claimed that the insured amount, including his withdrawal, had risen to Rs 2.3 crore. They then demanded additional payments of Rs 32 lakh, and later Rs 50 lakh, citing reasons such as insurance, taxes, and processing charges. Through these deceptive tactics, the fraudsters extracted a total of Rs 2.2 crore from the victim in multiple transactions over various pretexts.
Police Action and Ongoing Investigation
Following the incident, a case has been registered against five unidentified persons at the Kalaburagi Cyber Economic and Narcotics (CEN) police station. Authorities are actively investigating the matter to trace the perpetrators and understand the full extent of the scam. This case highlights the growing threat of cyber fraud targeting vulnerable individuals, especially seniors, with promises of lucrative returns.
Experts advise caution when encountering unsolicited investment opportunities online, emphasizing the importance of verifying platforms and avoiding sharing personal or financial details with unknown entities. As digital scams become more sophisticated, public awareness and vigilance are crucial to prevent such financial losses.
