In a shocking case of digital deception, a 51-year-old woman from the upscale Banjara Hills area of Hyderabad was swindled out of a staggering Rs 2.5 crore in a sophisticated online stock trading fraud. The elaborate scam, operated through WhatsApp groups and a counterfeit mobile application, prompted the Hyderabad cyber crime police to register a formal case on Tuesday.
The Lure of Assured Profits on WhatsApp
The victim's ordeal began in November 2025 when she received an unsolicited message on WhatsApp. The message promised guaranteed returns from the stock market, a tempting offer for many. Since the woman was not well-versed in the intricacies of online trading, her husband stepped in to explore the opportunity. He joined a WhatsApp group named Stock Market Profit Guide Exchange Group 20, which boasted more than 160 members.
Inside the group, a carefully orchestrated illusion of legitimacy was maintained. An individual pretending to be an investment banker conducted online classes, presumably to educate members about trading. To build trust and create a fear of missing out, other members frequently posted screenshots showing substantial profits from their investments.
The Trap of a Fake SEBI-Registered App
The scheme escalated when the group administrators began promoting a platform called The Wealth Alliance. They instructed members to download and invest through a mobile application named MCKIEY CM. Crucially, the fraudsters falsely claimed that this app was registered with the Securities and Exchange Board of India (SEBI), India's market regulator, to lend it an air of authenticity and safety.
Believing the investment to be secure, the victim transferred a massive sum of Rs 2.6 crore between December 24, 2025, and January 5, 2026. The transactions were made in the hope of multiplying her capital through the promised high returns.
Suspicion, Withdrawal, and Police Action
The first sign of trouble appeared when the woman attempted to withdraw some of her funds. She received only Rs 10 lakh back, and this amount came from multiple bank accounts, which raised immediate red flags. This irregular payment pattern sparked her suspicion, leading her to realize she had fallen prey to an elaborate cyber fraud.
She promptly approached the Hyderabad cyber crime police, who registered a case based on her complaint. The police have booked the unidentified accused under relevant sections of the Information Technology (IT) Act and the new Bharatiya Nyaya Sanhita (BNS) provisions. An investigation is underway to trace the perpetrators and the money trail.
This incident serves as a stark warning for all investors, especially those new to online trading platforms. Key takeaways include:
- Never trust unsolicited investment offers received via WhatsApp, SMS, or call.
- Always verify the SEBI registration of any trading platform or advisor independently through the official SEBI website.
- Be wary of groups or individuals showing off huge profits, as these can be easily fabricated.
- Consult with a certified financial advisor before making large investments.
The Hyderabad cyber crime police have reiterated their appeal to the public to exercise extreme caution and report any such suspicious financial schemes immediately.
