WhatsApp stock tips: Nithin Kamath warns of more pump-and-dump schemes as ED freezes accounts worth Rs 200 crore

What happened: Nithin Kamath warned on X that pump-and-dump schemes via WhatsApp groups and influencers promoting stocks and IPOs remain a concern and could become more frequent as the market cycle advances. Key numbers: ED froze trading accounts holding shares worth around Rs 200 crore in an alleged Why it matters: The ED said promotion through WhatsApp groups raised price and volume of the scrip, and preferential allottees dumped part of their shareholding on a large number of investors. Kamath urged investors to question easy-return messages and check tips with AI tools before acting.

Nithin Kamath warned on X that pump-and-dump schemes via WhatsApp groups and influencers promoting stocks and IPOs remain a concern and could become more frequent as the market cycle advances.

The ED said promotion through WhatsApp groups raised price and volume of the scrip, and preferential allottees dumped part of their shareholding on a large number of investors. Kamath urged investors to question easy-return messages and check tips with AI tools before acting.