In a shocking 48-hour span, the Cyber Crime Police of Hyderabad and Cyberabad have registered three major fraud cases, where city residents were collectively duped of more than ₹3.6 crore. The scams, which involved sophisticated fake stock market and cryptocurrency investment platforms, highlight the growing threat of online financial fraud.
Three Distinct Modus Operandi, One Goal: To Steal
The police have detailed three separate incidents with unique luring tactics but a common fraudulent endgame. The cases were officially booked under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act.
The Fake Stock Market Guru and WhatsApp Trap
The first victim, a 55-year-old bank recovery agent from Secunderabad, was targeted by a fraudster posing as a stock market expert. The accused invited him to a WhatsApp group named 'PZENA Investment Club'. Between December 11 and 18, the scammer showed the victim doctored profit statements to build trust.
Convinced by the fake returns, the victim transferred a staggering ₹1.45 crore into 16 different bank accounts provided by the fraudster. However, when he attempted to withdraw his supposed profits, the fake application demanded fresh deposits to "unlock" the funds. After being completely ghosted by the scammers, the victim approached the Hyderabad Cyber Crime police on Sunday to file a complaint.
The Telegram Channel and Android App Scam
In the second case, a 34-year-old software entrepreneur from Miyapur fell prey to a scam promoted through a Telegram channel called 'VIP Service Team – LKP Advanced Learning & Exchange'. She was persuaded to install an Android application named 'LKPNHWL'.
Between December 4 and 18, she invested ₹1.35 crore into the platform. The fraudsters initially allowed her to withdraw ₹12 lakh to build credibility—a classic tactic. However, when she tried to withdraw more money, her access to the application was abruptly blocked. She reported the crime to the Cyberabad Cyber Crime police on Friday.
Romance Scam Leads to Crypto Fraud
The third case involved a cruel mix of romance and cryptocurrency fraud. A 35-year-old techie from Jeedimetla, who was searching for a bride on a matrimonial site, began interacting in the second week of November with a woman calling herself Sunita.
After moving their conversation to WhatsApp, where calls appeared to originate from the UK, 'Sunita' convinced the victim to trade on a website, www.bitcoin-uxc.com. The platform's fake dashboard showed impressive profits worth 2 lakh Tether (USDT) cryptocurrency. To claim these profits, the platform then demanded payments for taxes and transfer fees.
After paying a total of over ₹1 crore, the victim received only ₹20,000. Realizing he could not withdraw the remaining amount and that he had been conned, he approached the Cyberabad Cyber Crime police on Saturday.
A Wake-Up Call for Digital Investors
These three incidents, occurring within two days, serve as a stark reminder of the sophisticated methods employed by cyber criminals. The police have urged the public to exercise extreme caution:
- Verify thoroughly: Never trust investment opportunities promoted through unsolicited messages on WhatsApp, Telegram, or social media.
- Beware of unrealistic returns: Promises of guaranteed high profits are a major red flag.
- Use official platforms: Only use recognized and officially registered trading and investment applications.
- Guard personal information: Be wary of strangers who quickly build emotional connections online and then discuss financial matters.
The Cyber Crime units of both Hyderabad and Cyberabad are investigating the money trails and the digital footprints left by the fraudsters in these high-value cases.
