One Thing You Can Do…”: Nithin Kamath After Bengaluru Man Loses Rs 91 Lakh In Stock Market Fraud

Zerodha co-founder and CEO Nithin Kamath is an avid social media user. He often shares his candid views on several topics. Now, in his recent post, the billionaire raised concerns over a spike in financial frauds, particularly those targeting individuals on social media platforms like WhatsApp and Telegram. Taking to X, Mr Kamath highlighted a recent case in Bengaluru where a techie lost nearly Rs 91 lakh in a stock market scam. The victim was reportedly lured into a fraudulent scheme via a WhatsApp group, where scammers promised high returns on investment. 

Mr Kamath said that the trend of cyber frauds had reached alarming proportions, with more than Rs 1,100 crore lost to such frauds in the last nine months alone. He also shared a small but crucial step that can prevent people from falling prey to such scams. 

“The trend of these frauds are increasing. The past 9 months alone have had scams worth 11000 crores! I dread to think what it will be like once