November 09, 2025 — It started with just ₹10 — an easy “Buy Gold” button on your UPI app. Today, it has turned into a ₹crore-sized problem.
Across India, people are losing real money in fake or unsafe digital gold schemes.
And that’s exactly why SEBI — India’s market regulator — finally said:
“Digital gold is not regulated by us. Be careful where you’re investing.”
Let’s look at the real cases that made SEBI speak up.
5 Real Stories That Shocked Everyday Investors
1. Aditya Birla Capital App Hack — ₹1.95 Crore Gone Overnight
In June 2025, hackers broke into Aditya Birla Capital’s digital platform and sold customers’ gold without permission.
Over 435 users lost a total of ₹1.95 crore worth of digital gold.
The company admitted the loss and promised to resolve it, but there was no SEBI or RBI help because digital gold doesn’t come under any regulator.
(Source: The Economic Times)
2. Retired Army Officer Duped of ₹41 Lakh
In May 2025, a retired Army Colonel from Delhi was lured into a fake “digital gold trading” app that promised daily profits.
He transferred ₹41 lakh over a few weeks.
When he tried to withdraw, the app demanded more “verification money” — then vanished.
Police later arrested two people with Chinese links.
(Source: Times of India)
3. Pune Trader Lost ₹1.11 Crore in “Assured Gold Profits” Scam
In September 2025, a trader from Bhosari, Pune, invested around ₹1.11 crore in what he thought was a digital gold scheme.
He was shown fake dashboards with “growing returns” every day.
One morning, his login stopped working — and the company disappeared.
(Source: Hindustan Times)
4. Online Gold-Trading App Scam — ₹40 Lakh Vanished
Another Pune-based tech professional lost Rs. 40.26 lakh in an app that claimed to let users “trade gold online”.
He saw fake profits daily, but the moment he clicked “withdraw”, his account was locked.
Police confirmed it was a coordinated cyber scam.
(Source: TOB)
5. Fake “Digital Gold Mining” Apps on Social Media
- Cybercrime units in Mumbai, Hyderabad, and Ahmedabad have flagged dozens of fake apps offering “digital gold mining” or “virtual vaults”.
- They target young investors on Telegram and Instagram with flashy ads like “Earn 2% daily on your gold”.
- Once you pay ₹500 or ₹1,000 to “start mining”, the app disappears.
(Source: Cyber Crime Division Reports, 2025)
Why SEBI Warned Everyone
All these scams have one thing in common — no regulator. No SEBI, no RBI, no legal safety net. Just trust, promises, and marketing.
So when something goes wrong — like a hack, a fake app, or a platform shutdown, you can’t file a complaint with SEBI or visit RBI for a claim such as an FD, On FD ,you can claim 5 Lakh or get your money back under any investor-protection law.
That’s why SEBI’s official note says:
“Digital gold products are neither notified as securities nor regulated as commodity derivatives. They operate entirely outside SEBI’s purview.”
In short, if your gold is on an app, it’s not under anyone’s protection.
Digital Gold vs Safe Gold Options
| Feature | Digital Gold | Gold ETF | Sovereign Gold Bond (SGB) |
|---|---|---|---|
| Regulator | None | SEBI | RBI / Govt. of India |
| Backed By | Private company claim | Verified custodian | Govt. guarantee |
| Liquidity | App-based | Stock exchange | 5–8 years (tradable) |
| Investor Protection | None | SEBI rules apply | Sovereign guarantee |
| Risk Level | High | Low | VERY LOW |
Insight
Digital gold looks modern and simple — but it’s not officially protected.
You may see “24K certified”, “insured vault”, or “trusted partner” — but those are company claims, not government approvals.
Once your money goes to a private vault company, you only hold a promise — not real ownership.
EaseMoney Tip
- Keep your digital gold limit below 10% of your total savings.
- Always check who your gold partner is — MMTC-PAMP, SafeGold, or Augmont — and read their terms carefully.
- Don’t trust any social media or WhatsApp “gold trading” link — it’s most likely fake.
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