Hyderabad Cyber Crime Police warn against online investment and trading scams

HYDERABAD: The Hyderabad Cyber Crime Police Station has warned citizens to stay alert against rising online investment and trading frauds being carried out through social media and messaging apps such as WhatsApp, Telegram, Facebook, Instagram and X (Twitter).

Victims cheated through fake dashboards and agents

Fraudsters are creating fake trading websites and apps that show manipulated profits to gain victims’ trust. Once substantial amounts are invested, they block withdrawals citing reasons such as tax payments, compliance verification, or conversion charges, and then vanish or threaten legal action.

In one case, a 57-year-old man from Himayathnagar was duped of ₹6.32 lakh by a platform named NFM Capital Markets. The agent, identified as Amrutha Reddy, approached the victim via Facebook and WhatsApp, persuading him to invest in US Gold Stocks through a fake dashboard. Believing the displayed wallet balance of USD 38,694.94 to be genuine, the victim transferred money via Google Pay and SBI YONO. When fraudsters demanded another ₹8 lakh, he realised it was a scam and reported it through the 1930 Cyber Helpline, enabling partial fund recovery.

Second case: fake Axis Bank trading offer

In another incident, a 63-year-old investor lost more than ₹43 lakh after receiving a WhatsApp message from a fake entity named “AXIS Security”, claiming to be linked to Axis Bank. The victim was promised IPO allotments and high returns through the Costa Well Grown app. The fraudsters displayed false profits and allotted excess shares as a non-interest loan, later demanding repayment and threatening to freeze his account.

Following his complaint, the police registered a case (Cr. No. 1409/2025) under Sections 66-C, 66-D of the Information Technology Act and Sections 318(4), 319(2), 336(3), 338, 340(2) of the Bharatiya Nyaya Sanhita at Cyber Crime Police Station, Hyderabad. Investigation is in progress.