Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours. If you initiate a Secret Chat, however, then these communications are end-to-end encrypted and are tied to the device you are using. That means it’s less convenient to access them across multiple platforms, but you are at far less risk of snooping. Back in the day, Secret Chats received some praise from the EFF, but the fact that its standard system isn’t as secure earned it some criticism. If you’re looking for something that is considered more reliable by privacy advocates, then Signal is the EFF’s preferred platform, although that too is not without some caveats. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. The fake Zelenskiy account reached 20,000 followers on Telegram before it was shut down, a remedial action that experts say is all too rare. In this regard, Sebi collaborated with the Telecom Regulatory Authority of India (TRAI) to reduce the vulnerability of the securities market to manipulation through misuse of mass communication medium like bulk SMS.
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