Bengaluru engineer loses nearly Rs 2 lakh in OLX QR code scam: Here’s what happened

Scams are on the rise, and a new one involving QR codes has recently surfaced. Siddarth (name changed), a 27-year-old software engineer from Adugodi, fell victim to this scam and lost almost Rs 2 lakh.

On August 29, Siddarth posted an ad on OLX to sell his air cooler for Rs 5,200, including his mobile number and pictures. Within minutes, he received a call from a man named Srikanth Varma, who claimed to be a used furniture showroom owner in Whitefield, reports TOI.

Varma expressed interest in purchasing the air cooler for the quoted price and proposed paying upfront before collecting the item.

Varma sent Siddarth a Rs 5 QR code via WhatsApp and asked him to scan it to receive the payment. When Siddarth did so, he received the amount. However, when he scanned a second QR code for Rs 5,200, the amount was debited from his own account instead of being credited. Varma assured him it was a technical issue and sent another QR code, which also led to a deduction from Siddarth’s account.

Also read: Haryana man loses Rs 4 lakh in Facebook-linked stock market scam: How to protect yourself from such fraud

In a desperate attempt to recover his money, Siddarth scanned another QR code, losing Rs 20,800. Over time, Varma continued sending QR codes, syphoning off over Rs 1.9 lakh from Siddarth’s two bank accounts.

Realising the scam, Siddarth refused to scan more QR codes, blocked his account, and contacted the cyber helpline at 1930. The next day, he filed a complaint with the Adugodi police, who are now working to recover the stolen funds.

Also read: Kerala Woman lost Rs 75 lakh in credit card unblocking scam: Here’s what happened

How to stay safe from such QR code scams

• Verify the buyer: Always verify the identity of the buyer before proceeding with any transaction. Avoid sharing personal information with strangers, especially over platforms like OLX.
• Be cautious with QR codes: Never scan a QR code sent by someone you don’t know or trust, especially if it’s for receiving payments. Scammers often use fake QR codes to withdraw money from your account.
• Understand how QR codes work: QR codes are generally used to pay money, not to receive it. If someone asks you to scan a QR code to receive money, it’s likely a scam.
• Educate yourself and others: Stay informed about the latest scams and share this knowledge with friends and family to prevent others from falling victim.