New Delhi: A 39-year-old businessman from Hyderabad, Telangana, has allegedly lost more than ₹3 crore in an online Contract for Difference (CFD) trading scam after cyber fraudsters lured him with promises of high returns through a fake investment platform. According to investigators, the fraud began with a Facebook advertisement promoting CFD trading, which led the victim to a Telegram bot-operated investment group named ‘TradGrip’. The fraudsters claimed that their platform would automatically manage trading decisions on his behalf and that he only needed to deposit funds. After displaying fabricated profits on a virtual trading dashboard, they persuaded him to transfer over ₹3 crore to multiple bank accounts. When he attempted to withdraw his money, the accused demanded additional deposits to “unlock” the withdrawal, but no funds were ever released.
Police said the complainant, a resident of Hyderabad’s Suchitra Junction area, first encountered the fraudulent advertisement in August 2025. After clicking on it, he was connected to the TradGrip Telegram group, where individuals posing as company representatives claimed their automated CFD trading platform could generate substantial profits with minimal effort.
Investigators said the victim initially invested ₹19,000 through UPI in August 2025. Soon afterward, the online trading platform began displaying steady virtual gains, convincing him that the investments were genuine. Encouraged by these apparent returns, he gradually increased his investments over the following months.
According to the complaint, between August and December 2025, the businessman transferred more than ₹3 crore into various bank accounts provided by the fraudsters. The money was sent not only from his personal bank account but also through the accounts of his friends and employees after the accused repeatedly assured him that the investments were generating significant profits.
The fraud came to light when the businessman attempted to withdraw his funds. Instead of processing the request, the fraudsters informed him that additional deposits were required to activate or unlock the withdrawal facility. Believing the explanation, he made further payments, but the platform still refused to release either the promised profits or his original investment. Realising he had fallen victim to a sophisticated cyber investment scam, he approached the authorities.
The victim first submitted a complaint through the National Cyber Crime Reporting Portal during the first week of July and later filed a written complaint with the Telangana Cyber Security Bureau (TGCSB) on July 17. Based on his complaint, police registered a case under Sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita (BNS), along with Section 66-D of the Information Technology Act, and launched a detailed investigation.
Investigators are analysing financial transactions, bank accounts, Telegram communications, mobile numbers, and phone conversations between the complainant and the suspects. Authorities are also tracing the movement of funds to identify the ultimate beneficiaries and determine whether the same network has targeted other investors across the country. Assistance from banks and law enforcement agencies in multiple jurisdictions may be sought as the investigation progresses.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said cybercriminals increasingly use social media advertisements, Telegram investment groups, and fake online trading platforms to lure victims with promises of guaranteed returns. He warned that virtual profits displayed on investment dashboards are often manipulated and should never be treated as proof of genuine earnings. According to him, demands for additional payments in the name of withdrawal charges, taxes, unlocking fees, or processing costs are among the strongest indicators of an investment scam. He advised investors to independently verify the legitimacy of any trading platform before investing, avoid relying solely on online advertisements or social media claims, and immediately stop further transactions if withdrawals are blocked or extra payments are demanded. He also urged victims to report such incidents without delay through the National Cyber Crime Helpline 1930 and the National Cyber Crime Reporting Portal, noting that prompt reporting significantly improves the chances of fund recovery and identifying those responsible.
