Kochi: In one of the biggest cyber fraud cases reported in Kerala, a 49-year-old businessman from Elamkulam has lost a staggering ₹24.76 cr to an online trading scam. Acting on his complaint, the Kochi City Cyber Police registered an FIR on Monday evening, marking it as among the state’s costliest digital fraud incidents. The victim initially approached the state police headquarters in Thiruvananthapuram, after which the complaint was forwarded to Kochi Cyber Police. 

According to the FIR, the victim — reportedly a pharmaceutical company owner — was duped between March 15, 2023, and August 29, 2025. The accused, identified as Daniel, allegedly lured him with promises of huge returns through stock trading via the website wwwl.capitalix.com. Contact was maintained over phone calls and Telegram, using the handle @capitalix\_bot. 

Believing the claims, the businessman transferred ₹24,76,21,042 in multiple instalments to several bank accounts, reassured by the high ‘returns’ displayed in his online trading account on the website. But when he attempted to withdraw his investments and supposed returns, he realised he had been conned. 

The cyber police have registered the case under sections 318(4) (cheating) and 316(2) (criminal breach of trust) of the Bharatiya Nyaya Sanhita (BNS). Investigators have already started tracking the money trail to uncover where the funds were routed.