Kerala is witnessing a surge in cyber frauds, with 23 cases of bogus online share trading, cryptocurrency, and forex scams reported across the state since September 1. Victims have lost more than ₹33 crore in just 13 days, cyber police said on Sunday.
The biggest loss was reported in Kochi, where a pharma businessman was tricked into investing ₹24.76 crore in a fake online share trading platform named Capitalix. Police said the same scheme has trapped several others, including two doctors.
A doctor in Idukki lost ₹1.63 crore, while a Wayanad native was cheated of ₹1.03 crore. In Thiruvananthapuram, a woman from Kudappanakunnu lost ₹96.60 lakh through the same Capitalix fraud.
Officers said the modus operandi remains the same: victims are shown exaggerated profits on fake trading apps but are blocked when they attempt to withdraw funds. Several bank accounts where the money was transferred have been traced and frozen, officials added.
Between September 1 and 13, six cases were registered by the Thiruvananthapuram city cyber police, while Kasaragod reported four. Two cases each were filed in Palakkad, Wayanad, and Alappuzha. Additional cases came in from cyber police stations in Kochi, Thiruvananthapuram Rural, Idukki, Kollam City, Kollam Rural, Malappuram, and Thrissur Rural.
Kerala Police last week warned the public against online investment scams and urged caution when encountering suspicious adverts. Victims are advised to report incidents immediately — by calling the cyber helpline 1930 or through the national portal www.cybercrime.gov.in.
