The government is constantly issuing warnings to protect people from scams, and the latest alert focuses on a fraudulent trading app called 5pit Trade. This app is designed to potentially empty users’ accounts. The information comes from Cyber Dost, an initiative of the Ministry of Home Affairs, Government of India, focused on educating people about cyber security.
Fraudsters use various methods to deceive people and steal their money. They create fake apps that look exactly like the original ones, making it hard to tell the difference. People download these fake apps, create accounts, and enter their private information, which puts them at risk.
If you get trapped by fake apps like 5pit Trade, you could lose a lot of money. If you have this trading app on your phone, delete it right away. Before you uninstall the app, make sure to remove your bank account details. A post on Cyber Dost’s X account includes an image, suggesting the app was available on the Apple App Store. The government asks people to report any suspicious apps they find.