3 Duped of Rs 7.3 Crore in Online Trading Scam
Fraudsters used WhatsApp groups, fake apps and websites to dupe investors of crores
Hyderabad: Three victims from Hyderabad and Cyberabad together lost Rs 7.3 crore after being lured into fraudulent online trading and investment schemes through social media platforms, messaging applications and fake websites.
The cases, registered between January 2 and 3, are being investigated by the Telangana Cyber Security Bureau (TGCSB) and sleuths of the Cyberabad Cyber Crime Police Station.
In the first case, registered with the TGCSB, a 57-year-old businessman from Begumpet lost Rs 3,40,96,958 to a fake online trading platform.
According to the complaint, the scam began in October 2025 when the victim was contacted via WhatsApp by a person claiming to be a professional stock market researcher. He was introduced to an online trading platform and persuaded to invest in stocks, IPOs and block deals, with assurances that trades conducted during specific morning hours would yield guaranteed profits.
The victim downloaded a mobile application through a web link and created a trading account. On December 2, 2025, he made his first transfer of Rs 1 lakh. Over the next 22 days, he transferred money multiple times to accounts provided by the accused, after being shown fake profits of around 5% on the app dashboard.
When he attempted to withdraw funds on December 31, 2025, he was told to pay additional amounts towards tax and withdrawal charges. Suspicious of the conditions, he stopped further payments and later realised the platform was fraudulent. He lodged a complaint on January 1, 2026, through the NCRP portal. The TGCSB took up the investigation on January 3.
In the second case, registered by the Cyberabad Cyber Crime Police station, a 34-year-old software employee from Kondapur lost Rs 1,83,00,000 after joining a WhatsApp-based trading group.
The complainant said he joined the group in January 2025 after seeing an online advertisement promising earnings through stock market trading. Individuals identifying themselves as trading experts – Rajat Verma and Meena Bhatt – guided him to invest through multiple websites and applications, sharing screenshots of alleged high returns.
Between November 3 and November 28, 2025, the victim transferred money in instalments to several accounts provided by the accused. He was initially able to withdraw a small amount, which strengthened his trust. Later, he was encouraged to invest larger sums, including for IPO subscriptions. When he tried to withdraw the remaining funds in December, the group became inactive and the accused stopped responding. A case was registered on January 2.
“The victim lost a lifetime of savings, including loans borrowed for investment,” the FIR stated.
In the third case, a 50-year-old businessman from Alwal, Machabollaram, reported a loss of Rs 2,13,00,000 after being persuaded to invest through a fake trading platform.
The victim said that in October 2025, he was contacted via social media by a woman claiming to be involved in investment activities. After several conversations, he was added to a messaging group and asked to install a trading application.
Between November and December 2025, he transferred money in multiple transactions for stock trading and IPO participation. Profits were shown on the app, but withdrawals were later blocked. He was asked to pay a 20 per cent commission to access his funds, after which the application became inaccessible. The Cyberabad cybercrime police registered a case on January 2.
