Navi Mumbai businessman duped of ₹2.74 crore in online gaming app fraud

The businessman lost the money to a gaming scam after fraudsters lured him with fake promises of a prize. Similar cases across India highlight growing cyber fraud via gaming apps

A 42-year-old businessman from Koparkhairane, Navi Mumbai, lost ₹2.74 crore after falling prey to a cyber fraud involving an online gaming platform, according to an NDTV report.

 

According to the Navi Mumbai cyber crime cell, the complaint was officially lodged on May 20. The victim alleged that between December 2022 and April 2025, fraudsters convinced him to invest a total of ₹3.24 crore in what was promoted as an online gaming platform offering lucrative rewards. He was instructed to transfer the money into multiple bank accounts, under the pretext of participating in various prize-winning games.

Realisation and partial recovery

When the promised prizes failed to materialise, the businessman grew suspicious. He was able to recover ₹50 lakh, but the remaining amount had already been misappropriated. Attempts to reach the representatives of the gaming platform proved futile, according to a police official. An investigation into the matter is currently underway.

 

Authorities have observed a surge in similar online fraud cases across different parts of the country. Earlier this month, a 23-year-old physiotherapist (DETAILS?? WHO/WHERE) became the victim of a scam after clicking on an Instagram advertisement for a gaming website. Lured by claims of doubling his 'investment', he ended up losing ₹1.9 lakh in just a few weeks.

Online scams can turn fatal

In an incident reported last month, a 17-year-old boy from Siliguri reportedly took his own life after suffering significant financial loss due to a gaming-related fraud. The teenager, Avik Paul, also known as Sujoy, was a student of Class 11 at Ghoghomali High School. He got involved in an online gaming scam, which led to nearly ₹2.5 lakh being fraudulently withdrawn from his father’s bank account.

 

Law enforcement officials are urging the public, especially younger users and investors, to remain cautious while engaging with online platforms that promise high returns or rewards. With scams increasingly targeting social media users through attractive but misleading advertisements, cyber experts warn that the threat continues to grow.

 

On Wednesday, markets regulator Securities and Exchange Board of India also issued an advisory warning investors about unscrupulous individuals or fake companies promising outsize returns on investments in the equities markets, and asked them to stay away from such stock market scams.