Hyderabad Man Duped of ₹12,56,900 in Online Stock Trading Scam

The victim, a resident of Begum Bazar, lodged a complaint with the City Cyber Crime Unit (CCCU) on Monday. He said that he was trapped by the crooks in the online stock trading scam on September 1 where he came across an advertisement on Instagram displaying the Motilal Oswal logo. Believing it to be genuine, he clicked on it and was redirected to a WhatsApp group named “L47 Quant Investment Group.”

In the group, gave stock-buying instructions through the MODMA app, which falsely displayed growing balances, prompting to transfer more funds, said D Kavitha, DCP Cyber Crimes.

After several transactions, it showed a frozen balance of ₹46,89,375, and the fraudsters demanded an additional ₹7,60,000 to release the funds. When the victim refused, they threatened to forfeit his money. Realising he had been scammed, he stopped further payments — but had already lost ₹12,56,900, said RG Siva Maruthi, ACB-CCCU.

Appeal

CCCU has urged the public not to fall prey to online frauds and warned the public about fraudulent investment schemes promoted through social media ads and WhatsApp groups.

• Do not click on suspicious ads or links on social media.

• Verify any investment platform through official company websites or regulatory authorities.

• Avoid transferring money to unknown accounts based on online promises.

• Be cautious of apps showing unrealistic profits.

• Stay alert and verify before you invest – fraudsters are constantly finding new ways to trap victims.

The citizens are urged to report such frauds immediately on 1930 helpline or www.cybercrime.gov.in

In case of any emergency of cyber frauds please call or WhatsApp 8712665171.

Follow the below links for latest cyber awareness updates.

https://www.facebook.com/cybercrimepshyd

https://www.instagram.com/cybercrimepshyd

https://x.com/CyberCrimeshyd/