In Hyderabad, cybercriminals defrauded a 52-year-old private sector employee of ₹2.36 crore by luring him into an online trading scam. The victim was enticed with exaggerated profits through a WhatsApp group and a fraudulent app. Police have registered a case and started investigation.
New Delhi: A 52-year-old private sector employee in Hyderabad lost over ₹2.36 crore after falling into a cybercriminals' trap. The case came to light when the victim was added to a WhatsApp group named '‘Zero’' and shown profits through AI-powered stock tips and a fake trading app. Enticed by this, the victim transferred money through various transactions. When the returns were not received, he filed a complaint with the police. The police are currently investigating the matter.
Crores Lost After Falling into Online Trading Scam
In Hyderabad, a 52-year-old private sector employee became a victim of online trading fraud. He told the police that he was added to a WhatsApp group named '‘Zero’,' where AI-powered stock tips and trading tutorials were shared. In this group, the victim was shown exaggerated profits through a fraudulent app, which enticed him to transfer large sums of money.
A total of ₹2.36 crore was transferred through different transactions. When the victim tried to withdraw the money, he realized he had been defrauded. He immediately filed a complaint with the police, and the matter is currently under investigation.
How the Enticement of Profit on Investment Was Given
According to police investigation and a Moneycontrol report, the accused showed the victim exaggerated profits on his investment in a mobile app to gain his trust. This led the victim to continuously invest large sums of money. Later, when he wanted to withdraw the money, the accused demanded additional payment, which revealed the fraud.
In the victim's statement, it came to light that the information provided in the WhatsApp group and the returns shown on the app were fake. Due to this fraud, the police have directed the cyber crime branch to investigate the matter.
Ways to Avoid Cyber Fraud
It is important to always be vigilant to protect yourself from cybercriminals. Do not fall for tempting advertisements and investment schemes being shown on social media.
Only use trading platforms recognized by the market regulator. Do not blindly trust any investment advice on WhatsApp or Telegram. If any platform seems suspicious, immediately report it to cyber agencies.
