In a major crackdown, the Delhi Police have summoned five prominent social media influencers, including YouTubers Elvish Yadav and Bharti Singh, in connection with a massive app-based scam that defrauded investors of nearly Rs 500 crore. The fraud involved the promotion of the 'HIBOX' mobile application, which promised users guaranteed returns on their investments but turned out to be a front for illegal activities.
According to a police spokesperson, over 500 complaints have been registered against the app, with victims alleging they were lured into investing by popular online personalities who advertised it on their social media platforms. The scam affected around 30,000 individuals who fell prey to promises of quick returns from mystery box shopping and investment schemes promoted through influencer-led campaigns.
The IFSO unit of Delhi Police has dismantled a syndicate operating through the 'Hibox' app, which defrauded approximately 30,000 people by promising guaranteed returns on investments. The scam was allegedly promoted by several popular social media influencers and YouTubers, drawing in unsuspecting users through their vast online following.
The app, 'Hibox,' marketed itself as a platform offering mystery box shopping experiences and investment opportunities. Mystery box shopping, a trend gaining traction on e-commerce platforms, allows users to purchase packages with undisclosed contents, heightening the thrill of surprise upon unboxing. However, the 'Hibox' platform turned out to be a cover for fraudulent activities, luring people with promises of quick returns and guaranteed profits.
According to the Delhi Police, many victims were introduced to the app through promotions by high-profile YouTubers and influencers, who advertised the app to their millions of followers. The list of individuals under investigation includes YouTubers Abhishek Malhan, Elvish Yadav, Lakshay Choudhary, Purav Jha, and comedian Bharti Singh. In total, nine influencers were part of the promotional campaign for the app.
"The syndicate was able to reach a massive audience by leveraging the influence of these social media personalities," said a spokesperson for the IFSO unit. "As part of the ongoing investigation, summons notices have been issued to the aforementioned individuals to join the inquiry and provide their statements."
The scam was uncovered when numerous consumers came forward, claiming they had been tricked into investing money into the app, only to find that the promised returns never materialised. Many of the victims were drawn to the platform after watching sponsored content from the influencers, leading them to believe in the legitimacy of the scheme.
The 'Hibox' app promised users both the excitement of mystery box shopping and the opportunity to make investments with assured returns. However, it soon became clear that the app was merely a front for a larger fraudulent operation.
The rise of social media influencers has led to increased trust in their endorsements, often blurring the lines between genuine recommendations and paid promotions. This case highlights the risks associated with online platforms that combine investment schemes with popular trends like mystery box shopping.
The Delhi Police’s IFSO unit is continuing its investigation into the syndicate, and further action may be taken based on the outcome of the inquiry. Meanwhile, social media users are being cautioned about the potential dangers of investment schemes and are advised to carefully vet platforms before making financial commitments.
As the investigation unfolds, the case raises questions about the responsibility of social media influencers in promoting apps and platforms that may not be fully transparent or trustworthy.
