Fake ‘NEPSE AI’ App Scams Nepalis of Over Rs 80 Crore, Authorities Issue Warning
Kathmandu – A fraudulent mobile application named ‘NEPSE AI’ has surfaced on social media, deceiving thousands of Nepalis and leading to financial losses exceeding Rs 80 crore. Marketed as an investment and trading assistant linked to the Nepal Stock Exchange (NEPSE), the app lured users with promises of quick profits but instead drained their accounts and compromised their devices. According to police, one individual lost a staggering Rs 28.61 lakh after installing the app. Shortly after the installation, the victim’s phone became unresponsive, indicating the app contained malicious software designed to steal data and disable devices. Investigators believe the scammers behind ‘NEPSE AI’ operated through social media promotions and fake endorsements to gain credibility and attract unsuspecting users. Once downloaded, the app requested sensitive information, including banking details and payment transfers, which were then misused to siphon money. Authorities have warned the public to remain vigilant and avoid downloading unverified applications, especially those promising unrealistic financial returns. Cybercrime units are now investigating the incident to trace the operators of the scam and recover stolen funds. Officials further urged users to rely only on official NEPSE apps, websites, and licensed financial service providers for stock trading and investment activities. The case has sparked widespread concern over digital fraud in Nepal, raising calls for stricter cyber regulations and stronger awareness campaigns to protect the growing number of online investors.
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