The first day of 2026 brought a grim reality for several Hyderabad residents as they queued up at police stations, not with celebrations, but with complaints of massive financial fraud. On January 1, five victims from the city approached three different cybercrime police stations, reporting collective losses exceeding ₹2.7 crore in sophisticated stock market investment scams.
Businessman Duped of ₹2 Crore in Elaborate Con
A 37-year-old businessman from Abdullapurmet suffered the most significant individual loss, amounting to a staggering ₹2 crore. His ordeal began in November 2025 when a Facebook advertisement lured him into a WhatsApp group named "Nomura FGQ I-189." The group administrator, identified as Kavya Reddy, provided him with a web link to a trading portal that convincingly mimicked a legitimate platform.
After submitting his phone number and Aadhaar details, he was registered as a high-net-worth client. Encouraged by screenshots of soaring profits shared by other group members—who were likely accomplices—he made an initial deposit of ₹40,000. He successfully withdrew ₹27,880, a tactic used by fraudsters to build trust. Convinced of the platform's authenticity, he then invested large sums in what were presented as institutional, OTC, and IPO trades.
Each time he attempted to withdraw his growing virtual profits, which had ballooned to a displayed figure of ₹9.2 crore, the operators demanded fresh commissions. He ended up transferring ₹80.6 lakh in fees alone. The scam collapsed when the operators finally blocked his access and refused all withdrawal requests. He realised he had been cheated, with losses incurred between November 29 and December 26. Based on his complaint, the Rachakonda cybercrime police registered a case under the relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the IT Act on New Year's Day.
A Pattern of Fake Platforms and False Promises
The businessman's case was not isolated. In a separate complaint to Cyberabad cybercrime police, a 39-year-old private employee from Lingampally alleged he lost ₹33.3 lakh after clicking a Facebook link and joining a fake stock trading platform called ‘pfpgold.vip’. Guided by a caller posing as stock analyst Shruthi Lagadapati, he transferred money to various bank accounts between October 15 and December 27. His virtual balance on the bogus site showed an impressive ₹1.6 crore, but when he tried to cash out, the fraudsters demanded an additional ₹30 lakh, exposing the scam.
Similarly, Hyderabad cybercrime police received a complaint from a 42-year-old chartered accountant from Karkhana. He lost ₹22.7 lakh over a month to a fake trading app named "Shoo*** Max," promoted through a 108-member WhatsApp group. After the app showed a fake profit of ₹67 lakh, the fraudsters asked for a ₹15 lakh fee, leading him to understand he was duped.
More Victims, Similar Stories
Two other cases were reported on the same day. A 54-year-old government school teacher from LB Nagar lost ₹12.6 lakh after investing in a fake stock trading platform promoted via Instagram. Meanwhile, a 32-year-old private worker from Balanagar was defrauded of ₹2.24 lakh after joining a ‘KKRPro’ app for stock trading through a WhatsApp group named "Rel***** Share." Separate cases were booked by Rachakonda and Cyberabad cybercrime police on their complaints.
Police Action and Public Warning
All five cases were officially registered on January 1, 2026, under pertinent sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. The coordinated reporting on the first day of the year highlights an alarming surge in cybercrime targeting amateur and seasoned investors alike through social media and messaging platforms.
The modus operandi consistently involved luring victims through Facebook or Instagram ads, moving them to WhatsApp groups, and providing links to sophisticated but entirely fake trading portals or apps. The initial allowance of a small withdrawal was a critical step to establish false legitimacy, followed by demands for exorbitant commissions or fees when victims tried to access their larger, fabricated profits.
Cybercrime officials urge the public to exercise extreme caution. They advise never to invest through platforms shared on social media, to verify the authenticity of trading portals with regulatory bodies like SEBI, and to be wary of unsolicited investment advice or too-good-to-be-true profit screenshots in WhatsApp groups.
