It was just another day for Ravi, a young professional in Delhi, scrolling through YouTube in his free time and came across the video of the famous comedian Bharti Singh who was promoting a mysterious new app called HIBOX.
Later he came across the promotion of a similar app by other famous YouTubers as well like Elvish Yadav, Saurav Joshi, etc. The app promised high returns of 1% to 5% daily.
First Ravi found it difficult to believe but later thought that why these well-known personalities would promote some random platform.
Ravi found it a good opportunity and he excitedly looked for some more details in the video. The promises of nearly 30 to 90% monthly returns seemed like a dream come true. But what Ravi didn’t know was that this would soon turn into a nightmare.
The First Signs of Trouble
After watching multiple videos around HIBOX, Ravi decided to give it a shot.
Without any further thought, he added ₹2,75,000 to the app with the hope of multiplying the payment to many folds.
But after a few weeks, things took a dark turn. There were no payouts. Whenever Ravi tried to withdraw his money, the app cited various reasons for withholding the funds — server issues, verification delays, or even promises of “processing soon.”
Reality started to sink in. This wasn’t a glitch—it was a well-planned scam.
The Scale of the Fraud
Ravi wasn’t alone who got trapped in one of such investment scams on YouTube and this could be easily interpreted by looking at the subscriber counts of the personalities promoting it.
- Elvish Yadav: 15 million+ subscribers
- Bharti Singh: Popular comedian with millions of fans
- Saurav Joshi: 21 million+ subscribers
- Abhishek Malhan (Fukra Insaan): 11 million+ subscribers
With such a wide audience of these YouTubers, the scam spread like fire, and eventually, 30,000 victims lost ₹500 crores in total.
The app HIBOX was launched in February 2024 and made people install it by displaying huge returns on investment. The mastermind behind the app doesn’t spare any money for the marketing and promotion of the brand.
The entire scheme was operated through four bank accounts registered under a company controlled by a 30-year-old resident of Chennai.
This individual had created fake entities and operated through payment gateways like Easebuzz and PhonePe, which allegedly failed to verify the merchant accounts properly.
But it wasn’t just the criminals behind the app who were being investigated. The Delhi Police’s Intelligence Fusion and Strategic Operations Unit (IFSO) arrested one of the main conspirators.
Along with this, the Police revealed a shocking list of other YouTubers & Influencers who without any check and verification promoted one fake app on their channel.
These influencers, who have a massive reach, were summoned by the Delhi Police for promoting the fraudulent app and encouraging their followers to invest.
The Investigation Unfolds
With the arrest of the main accused, the police were able to recover a portion of the funds.
They seized ₹18 crores from his bank accounts, but that was only a small fraction of the ₹500-crore lost by thousands of victims. The offices in Noida where the app was operated had been shut down, and the key conspirators fled away with the capital.
Ravi and thousands of others were left wondering how they had fallen into this trap.
The app’s simplicity, coupled with the backing of popular influencers, made it seem legitimate. This was no ordinary scam. It was a well-oiled machine, targeting a wide audience mainly those with a thirst for quick profits.
Impact of Celebrity Endorsements
What added to the allure of HIBOX was the fact that trusted YouTubers and comedians were actively promoting it.
Elvish Yadav, for instance, has over 15 million subscribers, most of whom are young adults like Ravi, who look up to him. Saurav Joshi, a family vlogger with over 21 million subscribers, further fueled trust in the app by integrating the app in his videos.
The involvement of these celebrities has raised serious questions about accountability. Should influencers be responsible for verifying the legitimacy of the products and apps they promote?
In the case of HIBOX, many victims feel betrayed by the very influencers they admire.
The Aftermath and Lessons Learned
For Ravi, recovering his lost money now depends on the success of the legal proceedings. He, along with many others, has filed complaints with the Delhi Police, but it will be a long process.
Meanwhile, the police are investigating the role of payment gateways that allowed these transactions to take place without proper due diligence.
The HIBOX scam serves as a stark reminder of the risks associated with investing in apps that promise quick returns.
Whether promoted by celebrities or not, it is crucial to do thorough research before investing any money.
Always check for genuine reviews, look into the company’s background, and, if possible, seek advice from financial experts.
For Ravi and others, this experience was a painful lesson — one that cost them both trust and money. As the investigation unfolds, one can only hope that justice will be served and that the victims will eventually recover their losses.
Conclusion
The HIBOX scam has led to the financial destruction of investors who blindly trusted their influencers, accused several high-profile influencers, and left victims like Ravi in distress.
While the investigation continues, the case serves as a warning to all of us: if it seems too good to be true, it probably is.
For those who find themselves in a similar situation, the best course of action is to immediately report the fraud to the authorities, gather all evidence, and avoid interacting with suspicious apps that promise quick and unbelievable returns.
This story echoes the experience of thousands who fell victim to HIBOX, and it raises crucial questions about the role of influencers in promoting such fraudulent schemes.
Stay cautious, stay informed, and always question before you invest.
