Business
Indian investors likely lost Rs 1,000 cr to fake crypto exchanges: Report
Fake cryptocurrency exchanges have duped Indian investors of more than $128 million (nearly Rs 1,000 crore) as the global crypto market tanks, a new report claimed on Tuesday.
Cyber-security company CloudSEK said it has uncovered an ongoing operation involving several phishing domains and Android-based fake crypto applications.
“This large-scale campaign entices unwary individuals into a huge gambling scam. Many of these bogus websites impersonate “CoinEgg”, a legitimate UK-based cryptocurrency trading platform,” according to the report.
CloudSEK was approached by a victim who allegedly lost Rs 50 lakh ($64,000) to such a cryptocurrency scam, in addition to other costs such as deposit amount, tax, etc.
“We estimate that threat actors have defrauded victims of up to $128 million (about Rs 1,000 crore) via such crypto scams,” said Rahul Sasi, Founder and CEO of CloudSEK.
As investors shift their focus on the cryptocurrency markets, scammers and cheats turn their attention to them as well,’ Sasi added.
Threat actors first create fake domains that impersonate legitimate crypto trading platforms.
The sites are designed to replicate the official website’s dashboard and user experience.
The attackers then create a female profile on social media to approach the potential victim and establish a friendship.
The profile influences the victim to invest in cryptocurrency and start trading.
“The profile also shares $100-dollar credit, as a gift to a particular crypto exchange, which in this case is a duplicate of a legitimate crypto exchange,” the report mentioned.
The victim initially makes a significant profit, which bolsters their trust in the platform and the threat actor.
After the victim seemingly makes a profit, the scammer convinces them to invest a higher amount, promising better returns.
Once the victim adds their own money to the fake exchange, the threat actor freezes their account, ensuring the victim can’t withdraw their investment, and disappears with the victim’s money.
When victims take to various platforms to complain about losing access to their accounts, the same, or new, threat actors reach out to them in the guise of investigators.
“To retrieve the frozen assets, they request victims to provide confidential information such as ID cards and bank details, via email. These details are then used to perpetrate other nefarious activities,” the report warned.
In the long-term, it is imperative for the collaboration between crypto exchanges, Internet service providers (ISPs), and cyber crime cells to raise awareness and take action against threat groups,” said Sasi.
Business
FII inflows, Nvidia earnings, oil prices among key factors to drive stock market next week

Indian stock markets are likely to remain volatile next week as investors track foreign institutional investor (FII) flows, crude oil price movements, Nvidia’s quarterly earnings and changing interest rate expectations.
After a spectacular rally that pushed the Sensex and Nifty higher for 10 consecutive sessions, benchmark indices witnessed some profit booking towards the end of last week. However, sustained foreign inflows and resilient corporate earnings helped markets retain their weekly gains.
The Sensex declined 319 points to close at 81,592 on Friday (November 13), while the Nifty slipped over 155 points to settle at 25,144, snapping a three-session winning streak.
The correction came amid renewed concerns over global AI-related trade, rising crude oil prices and expectations of tighter monetary policy following a sharper-than-expected increase in domestic inflation.
One of the biggest factors influencing market sentiment next week will be the continuation of FII buying. Foreign investors remained net buyers of Indian equities for the tenth consecutive session on Friday, purchasing shares worth Rs 5,736.55 crore, according to provisional NSE data.
Crude oil prices will also remain on investors’ radar as geopolitical developments in the Middle East continue to create uncertainty over global energy supplies.
While comments from US President Donald Trump suggesting that the Iran war was effectively over initially eased concerns and triggered a decline in oil prices, fresh attacks on Saudi energy infrastructure and disruptions to shipping through the Strait of Hormuz led to a rebound.
Brent crude is currently hovering near $96 per barrel. Any further rise in oil prices could weigh on India’s macroeconomic outlook, inflation and corporate margins, while a sustained decline may support market sentiment.
Global technology stocks will also be in focus as investors await Nvidia’s quarterly earnings announcement scheduled for Tuesday (November 17).
The chipmaker’s results and management commentary could influence sentiment around the global artificial intelligence trade.
Any sharp movement in AI-related stocks may have an impact on Indian equities, particularly technology shares, as investors assess the implications for global growth and the competitive positioning of Indian IT companies.
Meanwhile, rising inflation has brought interest rate expectations back into focus. India’s retail inflation accelerated to 6.09 per cent in October from 5.54 per cent in September, breaching the Reserve Bank of India’s upper tolerance limit of 6 per cent.
The latest reading has strengthened concerns about the possibility of monetary tightening, with several economists anticipating a potential rate hike at the RBI’s December policy meeting. Market participants will closely assess the implications of higher inflation for borrowing costs, liquidity and economic growth.
Business
FII inflows, Nvidia earnings, oil prices among key factors to drive stock market next week

Indian stock markets are likely to remain volatile next week as investors track foreign institutional investor (FII) flows, crude oil price movements, Nvidia’s quarterly earnings and changing interest rate expectations.
After a spectacular rally that pushed the Sensex and Nifty higher for 10 consecutive sessions, benchmark indices witnessed some profit booking towards the end of last week. However, sustained foreign inflows and resilient corporate earnings helped markets retain their weekly gains.
The Sensex declined 319 points to close at 81,592 on Friday (November 13), while the Nifty slipped over 155 points to settle at 25,144, snapping a three-session winning streak.
The correction came amid renewed concerns over global AI-related trade, rising crude oil prices and expectations of tighter monetary policy following a sharper-than-expected increase in domestic inflation.
One of the biggest factors influencing market sentiment next week will be the continuation of FII buying. Foreign investors remained net buyers of Indian equities for the tenth consecutive session on Friday, purchasing shares worth Rs 5,736.55 crore, according to provisional NSE data.
Crude oil prices will also remain on investors’ radar as geopolitical developments in the Middle East continue to create uncertainty over global energy supplies.
While comments from US President Donald Trump suggesting that the Iran war was effectively over initially eased concerns and triggered a decline in oil prices, fresh attacks on Saudi energy infrastructure and disruptions to shipping through the Strait of Hormuz led to a rebound.
Brent crude is currently hovering near $96 per barrel. Any further rise in oil prices could weigh on India’s macroeconomic outlook, inflation and corporate margins, while a sustained decline may support market sentiment.
Global technology stocks will also be in focus as investors await Nvidia’s quarterly earnings announcement scheduled for Tuesday (November 17).
The chipmaker’s results and management commentary could influence sentiment around the global artificial intelligence trade.
Any sharp movement in AI-related stocks may have an impact on Indian equities, particularly technology shares, as investors assess the implications for global growth and the competitive positioning of Indian IT companies.
Meanwhile, rising inflation has brought interest rate expectations back into focus. India’s retail inflation accelerated to 6.09 per cent in October from 5.54 per cent in September, breaching the Reserve Bank of India’s upper tolerance limit of 6 per cent.
The latest reading has strengthened concerns about the possibility of monetary tightening, with several economists anticipating a potential rate hike at the RBI’s December policy meeting. Market participants will closely assess the implications of higher inflation for borrowing costs, liquidity and economic growth.
Business
US flight disruption: Air India advises passengers to check latest status

New Delhi : Air India on Saturday advised passengers to check the latest status of their flights and plan their journey to the airport accordingly, amid massive disruption at the US airports. The Federal Aviation Administration (FAA) lifted a nationwide ground stop that had halted departures at US airports after a communications failure, though airlines warned that disruption and cancellations could continue.
“A nationwide ground stop is currently in effect across the US due to communication outages affecting air traffic operations. As a result, departures from airports across US are impacted, with possible consequential disruptions to Air India flights to and from the US,” Air India said in a statement posted on X. “Our teams continue to closely monitor the situation and will share updates as available,” it added. The cancellation of US flights happened after a communications problem affected air traffic operations. The notice announcing the cancellation did not specify the cause of the failure or say that airline schedules had returned to normal.
Earlier, the FAA’s Air Traffic Control System Command Center said the ground stop remained in effect across a large portion of the country, although some coastal facilities had been able to release international departures. In an update, American Airlines said some flights from certain airports were beginning to receive clearance to depart. At that point, most departures remained paused, and the airline expected further disruption, including unavoidable cancellations. American advised customers to check their flight status and review its travel alert for options. Its warning was issued before the FAA’s cancellation advisory. Homeland Security Secretary Markwayne Mullin told reporters earlier that officials had acted as a precaution following a telecommunications outage affecting the FAA. “There is no indication as of yet that this was a nefarious attack,” he said at the time. That preliminary assessment did not rule out a cyberattack.
-
Crime4 years agoClass 10 student jumps to death in Jaipur
-
Maharashtra2 years agoMumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra2 years agoMumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra2 years agoFalse photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
National News2 years agoMinistry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Maharashtra2 years agoMaharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News2 years agoJ&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface
-
Crime2 years agoBaba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report
