Stock market fraud: Bengaluru man loses ₹91 lakh to fake trading app; here’s what Zerodha’s Nithin Kamath has to say

Nithin Kamath, co-founder and CEO of Zerodha, has raised concerns about a surge in cyber frauds targeting investors through fake trading apps. His cautionary message comes after a Bengaluru tech professional lost nearly ₹91 lakh in a recent scam.

Addressing the growing threat, Zerodha CEO Nithin Kamath, revealed that scammers have siphoned off over ₹1,100 crore in the past nine months. “Fake trading app scams have exploded and have become a mega nuisance. These scams work by inducing you to trade and making you think that making money is easy,” he wrote on X (formerly known as Twitter).