In a jaw-dropping twist of events, the Hibox mobile app has found itself at the center of a massive scandal, luring unsuspecting investors with promises of daily interest rates ranging from 1% to 5%! The fallout from this scheme has led to a police investigation that’s heating up faster than a smartphone on a summer day.

The Shocking Scam Unveiled

According to reports, approximately 30,000 people fell for this enticing offer, leading to a staggering ₹500 crore scam. The Delhi police have sprung into action, probing the involvement of payment platforms PhonePe and EaseBuzz in this alarming case. It seems that as quickly as the money rolled in, it also rolled out—leaving many investors in despair.

The scam's allure was simple yet deceitful: Hibox promised mind-boggling returns—30% to 150% monthly! If you thought that sounded too good to be true, you were right! With a wave of magical marketing, they managed to lure in countless individuals who hoped to make a quick buck.

PhonePe and EaseBuzz Under Scrutiny

As the dust settles on this shocking revelation, questions are swirling about the roles of PhonePe and EaseBuzz. How did these platforms allow such an outrageous scheme to unfold? Investigators are keen to determine whether these companies turned a blind eye to the obvious red flags or were simply caught in the crossfire of the scam.

A Closer Look at the Scandal

Reports indicate that the Hibox app utilized PhonePe and EaseBuzz for payment processing, making them part of this tangled web of deceit. The Delhi police are combing through the details, scrutinizing whether Hibox breached any RBI guidelines by opening merchant accounts improperly. If they did, could we see a repeat of the crackdown that hit Paytm Payments Bank?

The Influencers' Involvement

In a rather eyebrow-raising development, several social media influencers—including the likes of Elvish Yadav and Bharti Singh—have been linked to promoting the Hibox app, both directly and indirectly. As the investigation deepens, these influencers are now under the police's watchful eye. Were they in on the scam, or merely pawns in a bigger game? 

What's Next?

With 127 complaints already lodged and one key suspect, Shivarama, apprehended, the police are on a mission to untangle this financial mess. They've reportedly traced ₹18 crore across four different accounts connected to him. Meanwhile, around 20 other firms suspected of involvement in illicit fund transfers are also being closely monitored.