Lost Your Capital by Clicking on a Forex Trading Link? This is the Latest Scam Trend!

Newspaper after newspaper, social media platforms after social media platforms, we often come across the term forex trading scam. Its taking a vicious shape. Unknown profiles constantly jam your phones or social media accounts with luring messages of guaranteed and astonishing returns that you may not have heard of before. So, what many do? They click on the link and get into a dreamy, yet fake world that somehow appears much later. More so, in many cases, after the scam.

The case of XPO.ru last year, where users were told to click on a link to start forex trading, led to the siphoning of as much as INR 3,100 crore, leaving affected investors and the authorities puzzling over the incident.

While the XPO scam was a massive incident, there has not been a shortage of these incidents. The Internet is flooded with stories concerning forex scams of this nature. In this article, we take a close look at several such scams.

The 3,100 Crore Fund Scam That Shook India

According to reports, XPO.ru operated a large-scale scam network by inviting users through a link. As users click, they would see moving charts, glorified numbers appear, and dazzling testimonials hyping the high returns and smooth services of the broker. All that made around 450,000 people invest into the platform with the hope of pocketing guaranteed returns as promised. But what happened is now history! The company ran away as usual, leaving the affected investors in disgust and pain. The total scam amount grossed INR 3,100 crore.

More Recent Online Forex Trading Scams in 2026

A Retired Army Officer Lost Over 1 Crore

A retired Colonel lost more than INR 1 crore after falling into the trap of investing in foreign exchange for great returns between October 2025 and February 2026. The 82-year-old victim recounted that he received a text message on the messaging application offering him high returns in forex trading.

After researching on the Internet about forex trading, the colonel contacted the message sender, who sent a link to the former to download an application for forex trading. The Pune-based retired officer downloaded the application and began trading. He was reportedly promised returns of more than 100% within a few days. Whats more, the officer also invested in high-value currencies for enhanced returns as promised by the suspects, according to the report.

Finally, the victim told the suspects to place bets on his behalf and share the profits. The victim reportedly transferred funds to four different accounts provided by the suspects. Following the fund transfer, the retired officer saw substantial profits on the application. The total transfer made by the officer was INR 1.01 crore. As the officer looked to withdraw funds, the suspects allegedly prevented him from doing so. This led the officer to believe he had been cheated.

An Ahmedabad Professor Lost INR 70,000 in a Telegram-based Forex Investment Scam

An Assistant Professor at U N Mehta Hospital in Ahmedabad allegedly lost ₹70,000 in a Telegram-based Forex investment scam.

The victim was reportedly lured through a trading group called “Trade Like Berlin,” which promoted Forex and investment opportunities with promises of high returns.

A person posing as an experienced forex trader contacted him directly and claimed he could generate substantial profits through short-term currency trading.

Believing the claims, the doctor transferred ₹70,000 through two UPI transactions.

The fraudsters then shared fake trading dashboards and fabricated profit reports, showing the investment had supposedly grown to over ₹3 lakh.

To withdraw the profits, the victim was allegedly asked to pay additional GST and processing fees exceeding ₹50,000.

The repeated demands for extra payments raised suspicion, prompting the doctor to seek advice and report the matter.

Cybercrime officials say such Forex scams commonly use Telegram links, fake testimonials, manipulated profit screenshots, and promises of quick wealth to trap investors.

Police have launched an investigation and are tracing the UPI accounts and Telegram profiles linked to the fraud.

Key Takeaway

There are no fixed returns in forex trading. So, the guaranteed return claim made by the accused is an outright lie and a deliberate tactic to defraud investors, especially those with limited or no knowledge of how the forex market works. Forex trading returns fluctuate based on both fundamental (economy and news-based developments) and technical (chart-based concepts such as support & resistance, trend analysis (bullish or bearish), indicators such as moving average and relative strength index.

Never fall for suspect forex trading links on social media or other messaging platforms. Do your profound research about the brokerage platform where you intend to invest. You can do it appropriately on WikiFX, an independent forex broker regulation inquiry tool. Download now!

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