Hyderabad Techies Lose Over Rs 1.26 Crore in Separate Online Trading Scams

• Hyderabad techie loses Rs 77 lakh in WhatsApp trading scam
• Fake stock investment scam cheats man of Rs 49.85 lakh
• Cyber fraud uses fake profits and high returns promise

Cybercrime cases linked to online trading scams are rising sharply in Hyderabad, with two separate victims losing more than Rs 1.26 crore after being drawn into fraudulent investment schemes promising high returns.

In one case, a 48 year old software employee from Pragathinagar was cheated of over Rs 77 lakh between February 15 and April 13. According to Cyberabad cybercrime police, she initially encountered online trading promotions that claimed to offer significant profits. After showing interest, she was directed to join a WhatsApp group where the fraud unfolded.

The scammers introduced themselves as representatives of a well known securities firm and used its branding along with regulatory details to appear legitimate. To build trust, they shared fake profit screenshots and convincing updates. The victim was gradually persuaded to transfer money under multiple reasons such as investment plans, premium trading channels, and transaction related charges.

As the payments increased, so did the pressure. The fraudsters insisted that her returns would only be released after completing additional payments. To strengthen their credibility, they operated through multiple identities, including individuals posing as fellow investors and even someone claiming to be a police official. They continued to send fabricated documents and unverifiable transaction details, keeping the victim engaged until she realized the fraud.

In a similar incident, a 35 year old resident of KPHB lost Rs 49.85 lakh after being trapped by a fake stock investment scheme. He came across a social media advertisement promoting stock market opportunities and was redirected to a discussion group that appeared to be a professional trading forum.

Members of the group claimed to be market experts and regularly shared stock tips, strategies, and screenshots of high returns. Initially, the victim saw small profits or simulated gains, which increased his confidence in the platform. Encouraged by these results, he began investing larger amounts after being told about exclusive trading opportunities.

The fraudsters used psychological tactics such as peer pressure within the group and constant assurances of guaranteed profits. They also introduced additional charges including membership fees, trading commissions, and withdrawal processing costs.

When the victim tried to withdraw his funds, he was repeatedly asked to make further payments to unlock his earnings. Despite complying with these demands, he never received any returns, and communication from the group eventually stopped.

Cyberabad cybercrime officials have urged the public to remain cautious while dealing with online investment offers, especially those promising assured returns. Authorities advise verifying platforms through official regulatory channels and avoiding unsolicited investment schemes shared through social media or messaging apps.