# Scammers stole Rs. 75 lakh by learning online loan scam tricks from YouTube; China link emerges | Tech News (HT Tech) > In a shocking online loan scam, scammers stole Rs. 75 lakh by learning tricks from YouTube videos. According to reports, the scammers are investing the stolen money in cryptocurrency and there is even a China link. # Scammers stole Rs. 75 lakh by learning online loan scam tricks from YouTube; China link emerges ## In a shocking online loan scam, scammers stole Rs. 75 lakh by learning tricks from YouTube videos. According to reports, the scammers are investing the stolen money in cryptocurrency and there is even a China link. Aug 22 2022, 13:41 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Online scam](https://images.hindustantimes.com/tech/img/2022/07/07/1600x900/woman-gab666acf2_1920_1644657744429_1657165771758.jpg) Scammers pulled off an online loan scam by learning the trade from YouTube videos. The scammers were putting in Rs. 75 lakh of the stolen money into cryptocurrencies. (Pixabay) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By HT TECH Loan scams are nothing new. But now, the online space is increasingly being used to propagate these devious crimes. Recently, an online loan scam, operated from Madhya Pradesh, came to light where the scammers were luring in the victims using attractive loan terms. Once the victim was trapped, they would be asked to make an advance loan payment to get the money, and after sending the advance, the scammers would simply block the number. According to reports, the scammers involved in this particular online loan scam stole around Rs. 75 lakh in just two days. Later they would use the stolen money to buy cryptocurrency from different platforms. Read on to know the details and find out how to protect yourself. According to a report by ANI, Delhi Police has busted this online loan scam in an interstate operation and arrested four people who allegedly used to run the entire scheme. It was also revealed by Police that these scammers learnt their tactics from YouTube videos and were in contact with Chinese nationals on Telegram. The scammers were also noted to be cryptocurrency enthusiasts as they spent the stolen money to buy various currencies from different online platforms. ## Online loan scam busted by Delhi Police The online loan scam followed an elaborate procedure to swindle people. According to Police, a complainant at Cyber Police Station Rohini has alleged that he received a text message regarding loans. The message said, “LIGHT your applied loan is approved, you can choose loan limit ranged from ₹2,00,000/-, please login App”. After the complainant clicked and filled out a form that asked for basic information, he received a WhatsApp call from an international number and was told to deposit 5 percent of the total loan amount as a refundable security deposit. However, after he transferred a total of Rs. 40,000, the scammer stopped responding. Also read click here. Delhi Police found out that the amount was transferred into bank accounts at Neemuch, Madhya Pradesh. It was also found that the scammers had amassed Rs. 75 lakh from different victims and used the money to invest in cryptocurrency. Delhi Police has arrested four people who are allegedly involved in this scam. Police recovered 15 ATM cards, 27 SIM cards, a BMW car, multiple passbooks and a cash of Rs. 20,000. If you want to protect yourself from such scams, make sure to never seek loans outside of official channels of registered banks and NBFCs. Always be careful whenever you receive any messages with attractive loan offers and never click on any links shared by them. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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