Nithin Kamath warns of WhatsApp scam using Zerodha's name
Bengaluru, April 30 -- Zerodha co-founder and CEO Nithin Kamath on Wednesday raised alarm over a growing WhatsApp-based investment scam that has allegedly duped thousands of unsuspecting investors by impersonating officials of his firm.
In a detailed post on X, Kamath explained the modus operandi of the scam, which involves fraudsters creating WhatsApp groups with names like 'Zerodha Elite Traders' or 'Premium Investors Club', using Zerodha's branding and even fake SEBI registration numbers to appear credible.
"Within hours, these groups are filled with screenshots showing 100-200% intraday returns and glowing testimonials - all fabricated," Kamath said, warning that the names and photos of Zerodha staff, including himself and his brother N...
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