Why Even Smart People Fall For Scams

In the first 5 months of 2025, Indians lost ₹7,000 Cr. to online scams. And if you're thinking, “Well, I’d never fall for that,” you’re exactly who they're targeting. Because these scams aren’t random spammy links anymore. They look like investments! 

Here’s something that one of our users recently reported: 

He’d “invested” ₹2 lakh through a platform after watching a reel of Nithin Kamath explaining a trading hack. It led to a Telegram group, where the admin sent charts, signals, and even live sessions. It was all going great until one day, the group vanished. The site was dead. The number stopped working. And you know the rest. 

It’s More Common Than You Think!

SEBI’s had to go full detective mode lately. Why? Because, as evident through the event above, scamsters aren’t just sending shady links anymore. They’re:

• Building lookalike platforms
• Creating fake trading dashboards
• Slapping AI-deepfaked faces of real founders (including ours)

And it’s working! According to reports, Indians are losing ₹1,000 crore every month to scams run out of places like Cambodia and Myanmar. These aren’t silly mistakes. These are con jobs with a business model:

1. Hook: A reel or ad with a deepfaked founder promises quick profits.
2. Funnel:  You’re added to a WhatsApp/Telegram group that feels active and “expert-led.”
3. Illusion:  Fake dashboards show fake profits. Fake people share fake wins.
4. Trap: You invest more. Then the site vanishes. So do they.
5. Repeat: Same scam, new name. On to the next victim.

So, Why Do People Fall For It?

Simple answer: they don’t think it’s a scam. Because it doesn’t look like one. It’s engineered trust.

And when you're:

• Broke or financially stressed
• Looking for a shortcut
• Or desperate to catch up after missing out

 ...you stop asking questions.

This is exactly who scammers target. Not just “uneducated” people, but smart, emotional, financially anxious ones.

Here’s the Pattern to Watch For

If you remember one thing, let it be this: Scams are less about what they promise. More about what you’re hoping for. So when someone promises:

• 2% weekly returns
• Passive income through “signals”
• Or guaranteed results from stock trading groups

Ask yourself: If this worked, why isn’t Mukesh Ambani doing it? Why are only random usernames on Telegram getting rich? And above all…

Who’s Letting This Happen?

It’s easy to say, “Be more careful.” It’s harder to say: Hold platforms accountable. Meta (Facebook, Instagram), WhatsApp, and Telegram aren’t just bystanders.

• They’re active participants.
• They let the scammers run the ads.
• They host the groups.
• They profit from the reach.

And when you report the scam? They “review the case” and move on. We’ve normalised this, but we shouldn’t. Because society is paying the price for platforms that scaled faster than they could moderate.

Now, they choose not to moderate because moderation doesn’t pay. Ads do.

So, if we can expect people to be honest, let’s start expecting the same from these platforms.

Coming to Stayng Safe…

A quick mental checklist that filters 99% of scams before they even reach your wallet:

• 2% weekly returns? Scam.
• Flood of thank-you messages? Staged.
• Feeling rushed or excited? Pause.
• Familiar face, odd advice? Deepfake.
• Too good to be true? It is.

And what to do if the damage is done?

• Sent money already? Call your bank immediately
• File a cybercrime report at cybercrime.gov.in
• Gather proof: screenshots, chats, payment IDs
• Report fake accounts to the platform (Instagram, WhatsApp, etc.)
• Don’t chase recovery scams. One hit is enough

Finally, remember, you don’t lose money when you trust a scam. You lose it the second you stop thinking. So, act wisely and don’t fall for the wrong shortcuts.