Bengaluru Techie Loses Rs 68 Lakh While Trying To Sell Bed Online In OTP Scam

A techie from Bengalore fell prey to scamster who was posing as a buyer on OLX and lost money in a series of transactions.

New Delhi: In another OTP Scam incident, an engineer hailing from Bengaluru lost a whopping Rs 68 lakh while he was trying to sell his bed online, as per media reports.

A report in The Times Of India said, the 39-year-old engineer was looking to sell his bed on OLX and posted an advertisement for the same. A person, who claimed to be a store owner from a furniture store called him up and agreed to buy the used bed for Rs 15,000. However, the person expressed inability to make UPI transaction, citing some error at his end. This is when the harrowing scam unfolded.

The techie was asked by the buyer to send him Rs 5, for which the latter sent Rs 10. Then he was asked to send Rs 5,000 for which the person returned Rs 10,000. Then he was asked to send Rs 7,500 for which the person claimed that sent Rs 30,000 by accident. The fraudster then asked the techie to return the money using a link and share OTP. Once the engineer fell into the OTP trap, he began losing his money to the tune of Rs 68 lakh.

Notably, banks, NCPI and RBI have repeatedly warned customers stating that is incredibly important never share One-time password with anyone. Users must use it only if you are in the process of placing an order, and on a trusted website or app. 

However, if you have received an OTP that you haven’t initiated, it is important to change your account passwords immediately and notify your bank about this unauthorized transaction.