HYDERABAD: A 68-year-old man from Darul Shifa, Hyderabad, has become the latest victim in a growing trend of cyber frauds rooted in fake coin sale advertisements. The scam began when he came across a YouTube ad offering ₹50 lakh in exchange for a ₹20 coin. Tempted by the deal, he contacted the number provided in the video and fell into a web of deception.
The person on the other end, identifying himself as “Raj Gyani,” posed as a high-paying coin buyer. Under the pretext of legal formalities and documentation, he convinced the senior citizen to transfer an initial sum of ₹1,500 to create a “file.” What followed was a series of demands for more money—allegedly for courier charges, insurance, tax clearance, and certification.
Total Loss of ₹1.46 Lakh, Scam Unfolded Over Multiple Transfers
Believing he was close to closing a profitable deal, the victim continued transferring money. Over time, he lost ₹1.46 lakh in multiple instalments. It was only when the fraudster demanded an additional ₹1 lakh that the victim grew suspicious and realised he had been duped. The fraudster stopped responding soon after, and the victim filed a complaint with the police.
Cybercrime officials confirmed that phishing techniques and emotional manipulation were employed to trick the victim. The case is under investigation.
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Police Issue Warning Against Fake Coin Sale Ads
In response, Hyderabad police issued a public advisory urging citizens to remain cautious against get-rich-quick schemes circulated on social media and video-sharing platforms. “Your awareness is your first line of defence,” stated the advisory. Citizens are advised not to transfer money to unknown individuals and to verify any extraordinary claims, especially those involving currency or collectables.
Authorities urge victims of such frauds to contact the 1930 cybercrime helpline, report the case at cybercrime.gov.in, or WhatsApp 8712665171.
