Gujarat Police arrest Bihar engineer in ₹19 lakh WinProFX forex fraud
Synopsis
A B.Tech graduate from Begusarai, Bihar, has been arrested for allegedly building and running WinProFX — a forex and crypto trading platform registered in Saint Lucia that reportedly lured 1.93 lakh users across 100 countries with fake profit dashboards, then refused all withdrawals. Investigators have also flagged suspected links to a Pakistani national, adding a cross-border dimension to what began as a single ₹19.07 lakh complaint in Ahmedabad.
Key Takeaways
Kumar Mangalam , 26, a B.Tech graduate from Begusarai, Bihar , was arrested by Ahmedabad Cyber Crime Branch for allegedly administering the WinProFX forex fraud platform.
An Ahmedabad resident lost ₹19.07 lakh after investing through WinProFX, which allegedly displayed fictitious profits and withheld all withdrawals.
WinProFX was registered in Saint Lucia and had approximately 1.93 lakh registered users across nearly 100 countries .
Deposits were allegedly routed through mule accounts at HDFC Bank and Indian Bank in Haryana ; multiple fraud complaints were already logged against those accounts on the I4C portal.
An iPhone , iPad , and MacBook were seized; investigators allege platform directors have links to a Pakistani national — probe ongoing.
Ahmedabad Cyber Crime Branch has arrested a 26-year-old software engineer from Bihar for allegedly developing and administering WinProFX, an online forex and cryptocurrency trading platform accused of defrauding investors by displaying fictitious profits and refusing to return deposited funds. The arrest follows a complaint by an Ahmedabad resident who lost ₹19.07 lakh after investing through the platform.
How the Fraud Operated
According to investigators, the complainant was drawn to WinProFX through forex trading videos circulated on online channels and was persuaded to transfer funds in the form of USDT cryptocurrency. The platform allegedly displayed substantial profits on users' dashboards to build confidence and encourage further deposits — a classic 'pig butchering' pattern increasingly seen in cyber fraud cases.
Once investors sought to withdraw either profits or their principal, the platform operators allegedly stopped responding and failed to process any payouts. Preliminary findings suggest users collectively deposited several crores of rupees through the platform, according to police.
The Accused and Digital Trail
Officers traced and apprehended Kumar Mangalam, a resident of Begusarai, Bihar and a B.Tech graduate in Computer Science. Investigators allege Mangalam uploaded promotional forex trading videos to attract investors and served as the platform's developer and administrator, earning revenue through referral codes and website operations.
A technical team analysed digital footprints, call detail records, cryptocurrency wallet addresses, and bank account money trails using advanced forensic tools. An iPhone, iPad, and MacBook were seized from his possession.
Platform Scale and International Links
WinProFX was registered in Saint Lucia and had approximately 1.93 lakh registered users across nearly 100 countries, including India, the United Arab Emirates, Pakistan, the United States, Bangladesh, Vietnam, Afghanistan, and the United Kingdom. The platform offered trading in currency pairs such as EUR/USD and GBP/USD, as well as gold, silver, commodities, indices, and digital assets.
Notably, the Cyber Crime Branch stated that proprietors or directors associated with WinProFX appear to have links with a Pakistani national. Officials confirmed that investigation into those connections is ongoing.
Money Trail and Mule Accounts
Investigators found that deposits were allegedly routed through mule accounts maintained with HDFC Bank and Indian Bank in Haryana. Verification through the Indian Cyber Crime Coordination Centre (I4C) portal confirmed that multiple cyber fraud complaints had already been registered against those accounts.
Although WinProFX was not registered in India, it allegedly accepted deposits in Indian rupees and cryptocurrency through Indian bank accounts and crypto wallets under the guise of legitimate investment activity.
What Happens Next
Further investigation into the platform's international ownership structure and its alleged links to a Pakistani national is underway. With nearly 1.93 lakh users across 100 countries potentially affected, authorities are expected to pursue additional arrests and coordinate with international cybercrime agencies.
Point of View
Combined with mule accounts already flagged on the I4C portal, suggests this was not an opportunistic scam but a structured operation. With 1.93 lakh users across 100 countries, the Ahmedabad complainant's ₹19.07 lakh may be the smallest thread in a far larger web. The arrest of a single developer, while significant, leaves the platform's financiers and international operators untouched — the harder and more consequential part of the investigation still lies ahead.
NationPress
22 Jun 2026
Frequently Asked Questions
What is WinProFX and how did the fraud work?
WinProFX was an online forex and cryptocurrency trading platform registered in Saint Lucia that allegedly lured investors with fake profit displays on their dashboards. Once investors attempted to withdraw funds or profits, the operators stopped responding and returned nothing — neither the invested amount nor the displayed gains.
Who was arrested in the WinProFX forex fraud case?
Kumar Mangalam, a 26-year-old B.Tech graduate in Computer Science from Begusarai, Bihar, was arrested by the Ahmedabad Cyber Crime Branch. He is alleged to have developed and administered the WinProFX platform and uploaded promotional videos to attract investors.
How much money was lost and how many users were affected?
The complaint that triggered the investigation involved a single Ahmedabad investor who lost ₹19.07 lakh. However, police said preliminary findings indicate users collectively deposited several crores of rupees, and the platform had approximately 1.93 lakh registered users across nearly 100 countries.
How were the funds routed in the WinProFX scam?
Investigators allege deposits were channelled through mule accounts held with HDFC Bank and Indian Bank in Haryana. Verification on the Indian Cyber Crime Coordination Centre (I4C) portal confirmed that multiple cyber fraud complaints had already been filed against those accounts.
Is there an international angle to the WinProFX case?
Yes. The Ahmedabad Cyber Crime Branch has stated that proprietors or directors linked to WinProFX appear to have connections with a Pakistani national. The platform itself was registered in Saint Lucia. Investigators say this line of inquiry is ongoing.
