A 52-year-old private employee from Hyderabad was duped of ₹2.36 crore in an elaborate online investment fraud through a fake trading platform. According to his complaint filed with Rachakonda Cybercrime Police in July, the victim was added to a WhatsApp group named Shoonya, allegedly run by one Sarvjeet Singh Virk and his associate Swetha.
The group offered stock market tips, trade strategies, and training sessions, projecting itself as an AI-driven trading hub. Convinced by the initial “profits” reflected on the app, the victim invested increasing amounts, including in IPOs. However, every attempt to withdraw funds was blocked with excuses of additional payments.
Ultimately, the victim lost ₹2,36,40,000 in multiple transactions. “I received zero returns. The entire investment is gone,” he stated in his complaint. Police have registered a case and launched an investigation.
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Fraudulent Tactics: Fake Apps and WhatsApp Groups
Investigators revealed that cyber fraudsters exploited AI buzzwords to lure victims into high-stake investments. The fraudsters created fake trading apps that initially showed fabricated profits to build trust. Victims were then encouraged to invest large sums, only to be stonewalled with withdrawal restrictions.
Cybercrime officials warned that fraudsters often use WhatsApp groups and fake financial advisories to target individuals seeking quick profits. By fabricating credibility and offering “insider” tips, scammers create an illusion of legitimacy until the victim’s funds are siphoned off.
Jagtial Resident Loses ₹41,000 in Credit Card Limit Scam
In a separate case in Jagtial, cybercriminals duped a resident of ₹41,000 by pretending to offer an enhanced credit limit on his Ratnakar Bank Limited (RBL) card. The fraudsters, posing as bank officials, sent the victim a malicious link. Once he entered his details, the money was withdrawn instantly.
The victim’s attempts to reach the fraudsters failed, and he subsequently lodged a complaint with local police. Authorities have urged the public not to click on suspicious links or share banking details over calls or messages.
Rising Cybercrime Cases in Telangana
Both cases highlight the growing menace of sophisticated online scams in Telangana, where cybercriminals continue to exploit financial aspirations and digital trust. Police have appealed to citizens to verify investment platforms, avoid unauthorized apps, and report suspicious activities immediately.
