WinProFX Scam Probe Expands as Fake Profits, 1.93 Lakh Users and Global Links Come Under Scanner
A major breakthrough for Indian police in the WinProFX scam investigation! They have arrested a 26-year-old engineer, linked to the Rs. 19 lakh fraud. The case shows how fast crypto fraud in India is spreading across the country.
The case was first opened after a Gujarat investor reported a loss of more than Rs. 19 lakh. The victim invested money through a USDT investment scam after watching forex trading videos online. These videos promised high returns and easy profits.
Fake Profits Used to Gain Trust
The platform showed fake profits on its dashboard, which made the investment appear real and tempting. This encouraged the investor to deposit more money over time. However, problems started when he tried to withdraw funds, as no money was returned.
Officials found that the platform stopped responding after multiple withdrawal requests. This method is common in many forex trading scam cases recently reported in India.
Cybercrime officials in Ahmedabad started a detailed investigation. Teams tracked digital records, crypto wallets, and bank transactions to find the source. The search led the officers to Bihar, where they finally arrested the accused engineer.
Police say the accused helped run the platform as a developer and admin. He also created and shared promotional videos to attract new investors. Authorities also seized devices like a mobile phone, tablet, and laptop for further investigation.
Investigation Reaches Bihar
WinProFX claimed to offer trading in forex, gold, silver, and crypto assets. The platform also claimed to have around 1.93 lakh users in nearly 100 countries. These included India, the US, the UK, and several Asian countries.
Investigators believe the total scam amount could be much higher than Rs. 19 lakh. The platform operated from outside India while collecting funds through local bank accounts and crypto wallets. Mule accounts played a key role in moving the money, which links to other cybercrime cases.
Officials are also checking possible international links connected to the scam network. The investigation remains active as police search for more people involved.
Authorities have filed charges under the Bharatiya Nyaya Sanhita and the IT Act. The focus now remains on tracking money trails and identifying the full network behind the WinProFX scam.
Authorities Warn Investors
The WinProFX scam shows how fake platforms use simple tricks to cheat investors. They create trust with fake profits and then block withdrawals. Many investors fall for these schemes through social media promotions.
India has seen a sharp rise in such crypto fraud cases in recent years. However, strong action by authorities shows tighter control on illegal platforms. Cybersecurity experts have also advised investors to stay alert and verify platforms before making any investment.
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
