Scam Alert: Zerodha Co-founder Nikhil Kamat Warns Against WhatsApp Scam for Stock Tips
Zerodha co-founder Nikhil Kamat has issued a cautionary alert to users regarding a WhatsApp scam promising stock tips. He emphasized that there are no paid promotions involved and urged users to report any fraudulent advertisements.
The government has also issued warnings against fake ads, urging citizens to remain vigilant and report any fraudulent activities.
Scam alert, this is obviously not from me, I have never had or have any WhatsApp groups, nor do I give tips etc.
— Nikhil Kamath (@nikhilkamathcio) April 12, 2024
Please report these…
Also to all the brands who reach out, I don't do paid promotions/collaborations/ads/paid speaking engagements of any kind 😏
Please stop… pic.twitter.com/iW8gZFOmRj
WhatsApp’s widespread usage has made it a breeding ground for scams and fraudulent activities. Kamat urged users to report any suspicious advertisements to prevent further dissemination of false information. He reiterated that he does not engage in paid promotions, addressing any misconceptions that may arise from such scams.
A lot of users reacted to Kamath’s post and appreciated him
“This is happening with everyone who so ever is active and famous in the stock market”
“The other day I cam across similar scam on the name of
@VijayKedia1
ji. Modus operandi is same for such imposters is to take mileage of well known industry face”
In light of the government’s warning, citizens are advised to exercise caution when encountering advertisements promising stock tips or investment opportunities on WhatsApp. The rise of digital platforms has also led to an increase in fraudulent schemes, making it essential for users to remain vigilant and report any suspicious activities to the appropriate authorities.
As scams continue to evolve and adapt to new technologies, it is crucial for users to stay informed and take proactive measures to protect themselves from financial fraud. Kamat’s alert serves as a reminder to users to exercise caution and verify the authenticity of any investment opportunities or financial advice encountered online.
