All users reacted to Nikhil Kamath’s post and thanked him for reminding them. (document)

New Delhi:

Zerodha co-founder Nikhil Kamath shared an image promoting a WhatsApp group for stock tips on social media platform X, calling it a scam. He asked users to report the ad and said he never had any WhatsApp group for stock tips.

Kamath wrote on

“I will not do any form of paid promotion/collaboration/advertising/paid speaking engagements with all the brands I approach,” he added.

Scam alert, this is obviously not from me, I have never been or have any WhatsApp groups nor do I provide tips etc.
Please report these…

Also, to all the brands reaching out, I do not do any form of paid promotion/collaboration/advertising/paid speaking engagements 😏

please stop… pic.twitter.com/iW8gZFOmRj

— Nikhil Kamathcio (@nikhilkamathcio) April 12, 2024

Many users reacted to Mr Kamath’s post and thanked him for alerting them to such scams.

“By sharing these scam alerts, you are not only protecting yourself but empowering the entire community to spot and avoid these predatory tactics,” one user said.

Another user wrote: “It’s great to see you taking a strong stance on paid promotions and collaborations. Your authentic voice and content is what truly resonates with your audience.”

Another user mentioned, “It takes courage to turn down lucrative opportunities, but you are clearly committed to maintaining the integrity of the platform.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)