Hyderabad: A software professional from Golconda, Hyderabad, Venkata Naga Bharata Simha Gupta, was cheated of Rs 1.55 crore in a fake stock trading investment scam. The fraudsters allegedly gained his trust online and persuaded him to transfer large sums of money.
Virtual Profits, Real Losses
According to police, Gupta received a WhatsApp link in early February claiming to offer “expert trading tips.” Soon, he joined a group where members shared screenshots of profits, which created a sense of trust and confidence.
The fraudsters then instructed Gupta to download a mobile application. Following their directions, he transferred money continuously between March 3 and March 23. During this period, the app displayed virtual gains of around Rs 2.40 crore, but later he was unable to withdraw any funds. This raised his suspicion, prompting him to approach authorities.
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Modus Operandi: Trust, Technology, and Manipulation
The Hyderabad Cyber Crime Police registered a case after receiving the complaint and launched an investigation. Officials are examining the techniques used by the fraudsters and tracing possible digital trails.
Cybercrime authorities have urged citizens to remain vigilant. They warned the public to avoid falling for online investment schemes promising quick and high returns. Such scams often use fake data and manipulated screenshots to mislead investors.
Police Warning and Growing Cyber Risks
Officials emphasized that individuals must verify investment platforms before transferring money and avoid unknown links or suspicious apps. The case highlights the increasing risks of online financial fraud in investment schemes and underscores the need for caution among investors.
Experts say cases like this demonstrate the growing prevalence of cybercrime and investment scams, stressing the importance of exercising caution while engaging with online financial offers.
Gupta’s experience also illustrates how cybercriminals can exploit technical and psychological tactics to ensnare people on a large scale. Authorities say the investigation is ongoing, and they are analyzing digital trails to trace the perpetrators.
