Mast Money App Scam, Rs200 Crore Fraud Suspected, 5Lakh Citizens Cheated Across India

The Nagpur cyber cell has uncovered an alleged financial fraud involving a mobile application known as the 'Mast Money App' or the 'Soft Money App'. According to investigators, the operation is suspected to involve around 200 crore rupees and has affected approximately five lakh people across India. The syndicate targeted citizens by offering instant loans through the application, but instead allegedly engaged in extortion and harassment.

Police reported that the application was used to gain extensive access to users' mobile phones, harvesting personal data, contact lists, and photographs. Rather than providing the promised loans, the accused individuals allegedly demanded large sums of money from users. Those who refused to pay faced threats that their personal information and sensitive photographs would be publicly shared on social media platforms. The operation reportedly masked its activities using virtual private networks.

Following complaints from residents in Nagpur, the cyber cell registered an FIR under relevant provisions of the Information Technology Act and sections related to cheating and fraud. A police team traced part of the operation to Bhopal and arrested a software engineer suspected of developing the application and acting as a key member of the syndicate. Authorities have brought the arrested individual to Nagpur for interrogation and are working to identify other members of the network.

Not yet reported: The articles do not mention the total number of arrests expected or the identities of other masterminds behind the syndicate.