Cyber criminals in Telangana’s capital Hyderabad have allegedly cheated three senior citizens of a total ₹4.4 crore through different online fraud schemes. The cases involve investment fraud, a so-called digital arrest scam and a cryptocurrency trading fraud. The victims include three elderly individuals aged 62, 76 and 69 years, who recently lodged complaints with the cybercrime authorities.
WhatsApp Investment Scam: ₹1.72 Crore Loss for 62-Year-Old
The first case involves a 62-year-old man who was cheated of ₹1.72 crore in the name of online investments. According to the complaint, he received a message related to share trading on January 9 and subsequently joined a WhatsApp group where members claimed to be investment experts.
In the group, participants were encouraged to invest in block trades, Qualified Institutional Placement (QIP) stocks and IPO allotments. The fraudsters allegedly convinced the victim that he was investing through an institutional trading account, which would provide higher returns compared to ordinary investors.
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Initially, the victim transferred ₹5 lakh to a bank account shared by the group administrators. Soon after, he was shown access to a website and an online dashboard that displayed rapidly increasing profits, which strengthened his confidence in the scheme.
Between January 14 and March 9, the victim carried out more than 25 transactions and transferred a total of ₹1,71,74,000 to multiple bank accounts and UPI IDs provided by the accused. To gain his trust, the fraudsters initially allowed him to withdraw a small amount of ₹1,000.
Later, the investment dashboard reportedly showed the account value rising to ₹32.53 crore. However, when the victim attempted to withdraw the amount, he was asked to pay a commission of ₹65 lakh. Even after paying the demanded amount, the withdrawal option was disabled and the accused stopped responding, making the victim realize that he had been cheated.
Digital Arrest Fraud: 76-Year-Old Duped of ₹80 Lakh
The second incident relates to a so-called “digital arrest” scam in which a 76-year-old retired employee was cheated of ₹80 lakh. According to the complaint, the victim received a phone call on March 5 from a person claiming to be an official from the telecommunications department.
The caller told him that a SIM card had been purchased in Mumbai using his Aadhaar card on January 29 and that the number was allegedly being used for illegal advertisements and harassment activities.
The victim was then warned that a criminal case had been registered against him. During the call, other individuals joined the conversation and claimed to be investigating officers and court officials. The victim was forced to join a video call where forged documents were shown to him to make the case appear genuine.
Frightened by the situation and believing that he was under investigation, the victim transferred a total of ₹80 lakh through various transactions as instructed by the fraudsters.
AI Crypto Trading Trap: ₹1.89 Crore Stolen from 69-Year-Old
The third case involves a cryptocurrency trading fraud in which a 69-year-old retired government employee lost ₹1.89 crore. The victim stated that he came across an advertisement for an AI-based trading service on Instagram on November 20.
Soon after, a woman identifying herself as Maheswari contacted him and claimed to be an investment advisor. She asked the victim to download a mobile application linked to the trading platform and deposit an initial amount of ₹23,000.
The application initially showed small profits and even allowed him to withdraw ₹276, which increased his trust in the platform. Encouraged by these returns, the victim continued investing larger amounts and by December the account allegedly displayed profits exceeding ₹83 lakh.
However, when the victim attempted to withdraw about ₹74 lakh, the platform began demanding multiple charges. These included an 8 percent conversion fee, capital gains tax, transaction fees, gas fees, crypto tax, securities transaction tax, swap charges and overseas transaction fees.
Despite making several payments, the victim was not allowed to withdraw any funds.
Expert Warnings and Police Action on Hyderabad Cyber Frauds
Cybercrime experts say that such frauds often rely on social engineering techniques. Renowned cybercrime expert and former IPS officer Prof. Triveni Singh has said that criminals exploit people’s fear, greed and desire for quick profits to trap victims in such schemes.
Authorities have registered cases in all three incidents and are examining digital transactions, bank accounts and online platforms to trace those involved.
Officials have urged citizens to verify the authenticity of any investment offers, suspicious calls or online trading platforms before transferring money and to immediately report suspicious activities to cybercrime authorities.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
