Thane Cyber Police case over fake FINSOL trading app pushed via WhatsApp group; ₹1.29 crore lost
Thane Cyber Police registered a case on a complaint that a 70-year-old Bhiwandi man lost about ₹1.29 crore after joining a WhatsApp group and installing a trading app called FINSOL. No arrests were reported; the claims are allegations.
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Source: the420.in · published
What happened
The420.in reported on 1 November 2026 that Thane Cyber Police have registered a case after a 70-year-old man from Bhiwandi allegedly lost ₹1,29,96,593 (about ₹1.29 crore) between 10 July and 30 October 2026. According to the report, he was added to a WhatsApp group whose members allegedly persuaded him to download an online trading application called FINSOL, presented as a share-market platform with high returns. These are allegations from the complaint; no arrests had been reported and the investigation is continuing.
How the scam works
The report says he transferred money from multiple bank accounts to the platform, believing his investments were growing. The scam came to light when he tried to withdraw his accumulated funds and was allegedly asked to pay another ₹20 lakh before the money could be released. When he could not get his money back, he went to the police and filed a complaint.
The case covers beneficiary bank account holders, the creators of the FINSOL application, WhatsApp group administrators, advertisers and financial service providers allegedly connected to the operation. Police are examining how the victim's money moved and which bank accounts it passed through, and are looking at how the application was created and run and the role of those who promoted it in the group.
The pattern is typical of investment scams run through messaging groups. People are added to a group where others appear to be profiting, an app displays rising balances, and money is requested in repeated transfers. The balance shown on the screen may be only a number, not real holdings. When the victim asks to withdraw, a new payment is demanded as a tax, a fee or a release charge, and paying it only leads to further demands.
Source
The420.in, “FINSOL Trading App Scam: Bhiwandi Senior Citizen Loses ₹1.29 Crore”, 1 November 2026, based on the police complaint and FIR. These are allegations.
Red flags
- Being added to a WhatsApp group promoting share-market tips or a trading app.
- An app you must download from a link, presented as a platform for high returns.
- Repeated transfers to different bank accounts for the same “investment”.
- A demand for a further payment, such as ₹20 lakh, before you can withdraw.
- Group members who claim big profits and encourage you to invest more.
If you were targeted
- 1Do not install trading apps shared in WhatsApp groups, and only invest through SEBI-registered brokers.
- 2Check a broker or adviser on SEBI's website before sending money.
- 3Never pay a fee to release funds you are told you have earned.
- 4If you lost money, report it on 1930 or cybercrime.gov.in at once and tell your bank.
- 5Keep screenshots of chats, the app, bank transfers and group details for the police.