Clone App look alike Zerodha kite for fake trading

Apps that cloned Zerodha's user interface and help traders to screen record fake trading entry and exit, profit-and-loss (P&L) statements. As most of the youtubers use zerodha kite trading platform to record their Live Trading and show their P&L statements. Hence, hackers entered here and made these clone apps available for sale.

This way, people who want to defraud others by showing fake trading P&L statements do not have to Exhaustively photoshop screenshots. Instead, they can simply use these apps to input the profit number they want to show, and generate a counterfeit statement and put it on their Youtube channel, Instragram, Faebook, twitter and other social media platforms to sell their dummy courses for ₹10,000 to ₹2,00,000.

Few news channels reached out to Zerodha and other trading brokerage firms for their reactions on the brand being misused, but the brokerages is yet to respond.

Telegram channels are the main platform used by these scammers to sell their courses, and even Clone App is also sold at Telegram platform, which can help a user to generate a fake P&L statement for a fee ranging from ₹ 500 to ₹ 1,500/year. Some offer a demo for ₹ 99.

Among the key features, one of the sellers is able to generate fake P&L statements too, with editing of strike prices and profit and loss for any given day, as required. It also offers a customized URL to open the P&L statement, which looks like brokerage websites being opened, "Most of the scammers use Zerodha's platform P&L statement to defraud innocent". 

The interesting thing here is that the app promises to deliver a url will look alike zerodha url, which is very difficult to differentiate from the original.

*When cloning of brokerage apps is done by hackers, what's the security for the fake/clone app users ??? it comes with some dangerously unseen backstabbing from fake app sellers is taking your sensitive personal information of your trading account*

One of the telegram channels– with the name Zerodha Clone App, promises that it can even generate statements from live prices to make it look more realistic. This can help fraudsters to avoid embarrassing mistakes, like showing wrong indices, lot sizes, strike prices or price levels, which has happened with some famous youtube course sellers.

In the recent past (Aug-2023), 2 youtuber, twitter finfluencer was caught sharing a statement where the numbers simply didn't add up to the profits he claimed to have made. And as per reports from several clients, all the leading brokerages blocking them from their referral program's.

There is a Telegram channel that sells these fake P&L apps, warning users against paying ‘fake channels' that claim to sell such apps. They warn that scamsters will simply take the money and not deliver the (illegal) service.

“We are the only legit group from the earliest", innocents will get trapped every where.

“Many fake channels are being created on Telegram for PNL software/app, which are scamming people by blocking them after getting paid. It is happening on large scale "so please avoid going into the dark side of the world”, adding that telegram had received many complaints in this regard and even the brokerage firms.

And finally it's your hard earned money to loss, there is en-number of ways available what ever the way you choose, the one who loss is you!! Be safe,..

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