A deceptive social media video that appeared to feature Union Finance Minister Nirmala Sitharaman has cost a Bengaluru woman her life’s savings. The 57-year-old homemaker from East Bengaluru lost ₹43.4 lakh after being persuaded by an artificial intelligence-generated deepfake that falsely claimed the minister was recommending an online trading platform promising high profits.
Investigators say the video, which circulated on Instagram in August, directed viewers to an external link where users were encouraged to sign up for investment opportunities. Believing the message to be authentic, the woman followed the link and entered her personal information, which was later used to contact her directly.
The next day, a man identifying himself as Aarav Gupta reached out to her through WhatsApp, claiming to represent the company shown in the video. He invited her to a large WhatsApp group titled “Aastha Trade 238”, which appeared to host over a hundred participants discussing stock trades. Another contact, who introduced herself as Meena Joshi, soon joined the conversation, offering to help the victim learn how to use the firm’s trading tools.
Acting on their guidance, the homemaker downloaded an application called ACSTRADE and created an account. Meena walked her through the steps of linking her bank details, assuring her that the platform was reliable. The first transfer of ₹5,000 was made soon after, and to her surprise, the app began displaying what looked like real profits.
This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents