Nithin Kamath, founder and CEO of online brokerage platform Zerodha, has released a video on social media platform X regarding cyber fraud. Kamath has also shared a long message with it, in which he has explained how fraudsters commit fraud using the name of popular brands, such fraud is happening in the name of Zerodha itself.
Actually, fraudsters add people to a group on WhatsApp in the name of Zerodha. This group includes fake people in the name of all the senior executive officials of Zerodha including Kamath, due to which this group looks like an official group of the company.
These fake app and website scams keep getting worse and worse. Not a day goes by where I don't read about such scams or hear from people who've been affected. The scale of these scams is just insane.
— Nithin Kamath (@Nithin0dha) November 18, 2024
There are now countless phishing scams that take advantage of the familiarity of… pic.twitter.com/cWLk6dXer9
He wrote, ‘These fake app and website scams keep getting worse and worse. Not a day goes by where I don’t read about such scams or hear from people who’ve been affected. The scale of these scams is just insane. There are now countless phishing scams that take advantage of the familiarity of all major brands, celebrities, etc. The tricks vary—fake apps, fake websites, fake social media profiles, scam calls—but all with the same goal: to steal your money. We’ve discovered multiple such scams in the name of @zerodhaonline.’
Kamath further said, ‘These scams work because they take advantage of our emotions like hope, fear, and greed. Two simple rules that can protect you: 1. Never act in a hurry and always verify. 2. If something seems too good to be true, it probably is., Be extremely suspicious about everything. If you’re seeing this post, you’re probably already aware of these scams, so please share this with your friends and family who might be more vulnerable.’
To invest in Zerodha or any app, always download the app from the official website of the respective company or from a trusted app store to stay safe from cyber fraud.
