On the r/Crypto_Scam_Exchange forum, user Bhavyashrees3 shared a painful story of how the Axwel platform fleeced him out of nearly 50 lakh rupees. And this is not just a system glitch, but a well-planned scheme involving fake account managers.

According to Bhavyashrees3, it all began in July 2026 with a small deposit of 20,000 rupees. A certain manager contacted him via Telegram, showed him his first profits, and won his trust. The client was then smoothly moved on to more serious assets — gold, silver and Tesla, Meta, and Netflix stocks — with assurances that all trades were based on sophisticated "AI analysis." When losses started piling up, the manager insisted on "averaging down" the position, urging him to deposit even more money to save the account. In the end, the total investment reached 49.5 lakh. The attempt to withdraw funds ended in failure: the balance was glowing on the screen, but the money never arrived, while support kept fobbing him off with empty promises. At the same time, the Axwel platform shields itself behind Flux Ltd, a company registered in Comoros, and claims to be regulated by MISA, even though it holds no RBI authorization for residents of India.

In the comments, it turned out that the author of the post is not alone. According to user Overall_Jelly_734, his elderly father fell for exactly the same hook. Fortunately, he caught on in time and stopped his father from investing more than the initial 20 thousand, but withdrawing it, naturally, proved impossible. The platform is registered with neither SEBI nor FEMA, and now the son is seriously worried that his father might even be fined for using unauthorized platforms.

Bhavyashrees3 offered some excellent advice in response: never deposit additional money to "rescue" previous losses, and never withdraw your police complaint, even if the scammers suddenly promise to pay up. When user Inevitable-Skill-422 asked whether the case had moved off dead center, the author had good news to share. According to Bhavyashrees3, the cyber police in India have already launched an investigation and taken steps to block the recipients' accounts, and he has additionally filed a complaint with the Reserve Bank of India (RBI).