Scam Alert!! Zerodha's Nikhil Kamath Calls Out Fake 'Investment Tips' Circulated In His Name

Scam Alert!! Zerodha's Nikhil Kamath Calls Out Fake 'Investment Tips' Circulated In His Name

The fake digital flyer claimed, that Kamath would 'handpick' stocks, that will see rise in their fortunes in April.

Rahul MUpdated: Friday, April 12, 2024, 12:27 PM IST
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Scams are as perennial as river Nile in the modern age of the information highway. Zerodha boss Nikhil Kamath, took to his X (formerly Twitter) account bust a post online claiming a fictitious investment advice/tip session that Kamath allegedly would be giving out through a WhatsApp group.

The digital flyer claimed, that Kamath would 'handpick' stocks, that will see rise in their fortunes in April. This fake-free session, according to the flyer would be made available through WhatsApp channels.

Kamath's 'Handpicked' Stocks

Kamath rebutted these claims saying, "Scam alert, this is obviously not from me, I have never had or have any WhatsApp groups, nor do I give tips etc."

Alerting consumers and potential victims, he also added, "Also to all the brands who reach out, I don't do paid promotions/collaborations/ads/paid speaking engagements of any kind."

Zerodha is a stock brokering company started by Nikhil and Nithin Kamath in 2010.

This is another instance of technology being used for the wrong purpose, especially in the stock market and investment sector. It was just this week, the National Stock Exchange or NSE issued an alert, after an AI generated video of its the stock exchange's head misguiding investors was circulated online.

Some users even pointed out such instances from the recent past, where unsuspecting investors were beguiled. Some even invoked the volume of information that enters the system, making it difficult for many, especially new investors to make the right choice. In some cases, such happenings leads to misgivings, putting their finances in jeopardy.

Vigilance is critical under such circumstances, as an innocuous looking post or advice through WhatsApp channel, like in this case could result in detrimental and catastrophic results for individuals spending their life-long earnings and savings.

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