Hyderabad Consultant Defrauded of 3.54 Crore in Elaborate Crypto-Forex Scam
The Telangana Cyber Security Bureau (TGCSB) has registered a significant cyber fraud case after a 66-year-old private consultant from Hyderabad reported being duped of a staggering 3.54 crore rupees. The elaborate scam involved fraudulent cryptocurrency and forex trading portals that manipulated the victim through sophisticated social engineering tactics.
How the Multi-Crore Scam Unfolded
According to the detailed complaint filed with TGCSB headquarters police station on Monday, the victim from Kondapur was first approached on Facebook in February 2024 by a fraudster identifying herself as 'Navya Surj Delhi'. This initial contact marked the beginning of a carefully orchestrated financial deception that would span several months and involve multiple fraudulent platforms.
The fraudster persuaded the consultant to open an account on Catal***M***t*.com, which was later rebranded as pc.omnifxpro.com. Believing the platform to be legitimate, the victim invested approximately 1.5 crore rupees. "When I attempted to withdraw funds, the platform blocked access," the complainant stated in his official report to authorities.
Multiple Identities and Escalating Fraud
The scam quickly evolved with the fraudster adopting new identities. After appearing initially as Navya, the same individual resurfaced online under the name Kajal Mishra. This pattern of identity switching became a hallmark of the sophisticated operation.
The victim described similar experiences with two additional fraudsters posing as women. One, presenting herself as Anushka Sharma from Chandigarh, guided him to invest 16 lakh rupees in the same omnifxpro portal and even encouraged him to take loans for further investment. Another accused, posing as Rishika Sharma who also used the alias Katha Banerjee, lured the victim to invest through forexflockltd.com, later renamed forexproltd.com, resulting in additional losses of 70 lakh rupees.
Exploiting Desperation and Demanding More Funds
The fraudsters systematically exploited the victim's growing desperation to recover earlier losses. They demanded fresh deposits under various pretexts including taxes and clearance fees. When the consultant transferred additional funds to different bank accounts through sites including treasu****6*.com, inve****8.com, and m****c.com, these too were blocked from withdrawal after he refused to pay further alleged taxes.
"In total, I have transferred 3.54 crore to various bank accounts provided by the fraudsters from June 2024 till date," the victim told TGCSB police in his formal complaint, highlighting the extensive financial damage suffered over several months.
Legal Action and Investigation Underway
Acting on the detailed petition, TGCSB has registered a comprehensive case under Section 66-D of the Information Technology Act along with Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita. Preliminary investigation reveals that the substantial amount transferred by the victim was routed through a complex series of bank accounts and digital wallets.
Cybercrime investigators are currently analyzing the intricate money trail to identify the accused individuals behind this multi-crore scam. The case represents one of the substantial cryptocurrency and forex trading frauds reported in Hyderabad recently, highlighting the sophisticated methods employed by cyber criminals targeting investors through social media platforms and fake trading portals.
