An information technology professional in Hyderabad lost Rs 45 lakh after falling victim to an investment scam disguised as a legitimate stock trading application. The fraud unfolded after the victim encountered the platform through social media promotions.
According to the case details, the app mimicked features of real trading services, encouraging the victim to deposit funds for purported market investments. Over time, the victim transferred large sums before realizing withdrawals were blocked or returns were fabricated.
Cyber fraud involving fake trading platforms has become a recurring complaint in Indian metropolitan cities, where professionals with disposable income are frequent targets. Fraudsters often use polished interfaces and fabricated profit statements to build credibility.
Hyderabad police are expected to trace digital payment trails and social media accounts linked to the scheme. Victims in similar cases are advised to verify regulatory registration of investment platforms before transferring money.
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Sources:
https://www.sci.gov.in/latest-orders/