Let’s not sugarcoat it — the Indian stock market may be booming, but alongside, the underworld of unregulated trading is flourishing.
While many of us deal with legit challenges—like Zerodha’s server crashes or parsing open interest on Sensibull—an illicit “trading” culture is thriving across WhatsApp and Telegram. No SEBI compliance. No oversight. Just margins, manipulation, and digital smoke and mirrors.
At the center of this underbelly?
V Money.
What is V Money?
If you’re picturing a registered broker or NBFC, think again.
V Money is neither listed, audited, nor regulated. It isn’t found on the Google Play Store but is gaining rapid popularity in underground trading circles.
Why? Because it sells a fantasy most traders secretly desire:
- No taxes
- Insane leverage
- Instant settlements
- No PAN, no KYC, no questions
Sounds ideal, right? The reality, however, is very different.
V Money Dabba Trading Scam
Traditionally, dabba trading referred to illicit, off-exchange operations—think shady backrooms in towns like Rajkot or Surat. Today, it’s gone digital.
V Money mimics legit platforms—real-time charts, smooth UI, option chains—yet no order ever reaches the exchange; it’s all internal fiction. Fortune IndiaSEBI Investor
How V Money Appears to Work:
- The Hook
You get a direct message: “5× returns, no tax. Try our exclusive private app.” - The Entry
You transfer ₹25,000 via UPI to an anonymous number. No receipt, no trace. - The Illusion
You’re granted login access. The app looks authentic—charts, scrip search, order entry—yet nothing contacts NSE/BSE. - Nothing’s Real
You trade in the V Money universe. Profits and losses are tracked internally. - Settlement—or Not
Profits? Paid in cash or crypto. Losses? Expect pressure to deposit more. - Disappearing Act
The app vanishes. The Telegram group vanishes. Your money? Vanished too.
Red Flags Flashing Everywhere
Let’s test the reality:
| Claim by V Money | The Reality |
|---|---|
| “Zero taxes, full profit” | Illegal evasion. Risk of criminal tax consequences. |
| “Double your capital in 2 weeks” | You might double your losses instead. |
| “No SEBI interference” | It’s illegal. No protection. No investor recourse. |
| “Fully private, no PAN required” | Means no transparency or accountability. |
| “High leverage, fast execution” | Means high fraud risk, rapid disappearance. |
Real-Life Victims, Real Losses
- A Surat trader reportedly lost ₹28 lakh overnight when payouts were “paused for maintenance.”
- A Jaipur engineer deposited ₹5 lakh expecting daily ROI—only silence followed.
- A Nagpur college student earned ₹1.2 lakh in three weeks, then was ghosted upon requesting withdrawal.
SEBI Action on Dabba Trading
SEBI has issued repeated warnings and action:
- Dabba trading is illegal, explicitly unregulated, and bypasses SEBI and exchange systems.
- The Fortune India article cautions that “organisers and participants in an act of gambling are both deemed culpable by law.”
- Recent enforcement actions include a ₹950 cr dabba trading and sports betting racket bust, involving fake platforms and games.
- Worse: A single businessman in Mumbai was defrauded of ₹43.76 crore (including gold and cash)—again through dabba trading.
How to Report V Money or Any Dabba Trading Platform
If you come across platforms like V Money or suspect someone is luring traders into dabba trading, then raise dabba trading complaints in SEBI, and exchanges have set up multiple channels to take swift action.
- File a complaint in SEBI
- Inform Exchanges (NSE/BSE). Both exchanges maintain investor grievance cells where such activities can be escalated.
- File a Cyber Crime complaint
- Report to Your Nearest Police Station. Since dabba trading is not just a regulatory violation but also fraud, local cybercrime or police authorities can act.
By reporting, you not only safeguard yourself but also help curb the spread of such fraudulent apps across India.
Need help?
Register with us, and we will guide you through the process involved in filing a complaint against a dabba trader in India and provide full assistance in drafting and documentation of the complaint.
Conclusion
You’re either playing in the regulated—and lawful—stock market, or you’re stepping into danger. V Money isn’t trading. It’s a liability.
What looks like innovation is a scam in disguise. And the only person benefiting is the one who convinced you to sign up.
