A 55-year-old businessman from Madhurawada, Visakhapatnam, has reportedly lost nearly ₹6 crore in a sophisticated online investment scam. Cybercriminals posing as professional traders lured him into a fake “high-profit” trading platform through social media. The case has prompted an investigation by the Vizag Cyber Crime Police, who believe the racket may have links to overseas networks.
The Trap Began on Facebook
According to police sources, the victim (name withheld on request) came in contact with a woman on Facebook and Instagram earlier this year. Presenting herself as a successful investor, she persuaded him to join an exclusive trading opportunity that “doubled profits within weeks.”
She shared the link of a seemingly legitimate trading website along with multiple bank account details for investment deposits. The businessman initially transferred ₹50,000 as a trial. Seeing fake “returns” on the dashboard, he was encouraged to invest more — eventually transferring over ₹6 crore between July and October 2025.
A New Layer of Deception
As the scam progressed, another man claiming to be the woman’s “uncle” joined the conversation. He claimed access to “international trading opportunities” and convinced the victim to invest further for “premium access.”
When the victim requested to withdraw his profits, he was told to pay additional “processing fees” — starting from ₹20 lakh and later inflated to ₹1 crore. After refusing further payments, the victim was allegedly threatened with fake legal notices and blackmail messages.
Cyber Police Launch Probe
Realizing he had been duped, the businessman filed a complaint with the National Cybercrime Helpline (1930). The case was registered under cyber fraud sections at the Visakhapatnam Cyber Crime Police Station.
Investigators have identified multiple bank accounts and digital wallets used to route the stolen funds. Preliminary findings suggest the network could have connections with cybercrime syndicates operating from North India and Southeast Asia.
Expert Analysis: “Digital Trust Trap” – A New Age Weapon
Cybercrime expert and former IPS officer Professor Triveni Singh, commenting on the case, said such scams represent a dangerous new phase in online fraud — one that blends emotional manipulation with financial deception.
“These criminals build emotional trust before attacking financially. First comes friendship, then faith, and finally — fraud,” said Professor Singh. “It’s a structured pattern where victims believe they’re dealing with real people, but the entire conversation is scripted by a network.”
He explained that modern scam syndicates increasingly rely on phishing websites, deepfake profiles, and AI-powered customer chatbots to make the operation appear genuine.
“People must understand — any promise of 20–30% monthly returns is a red flag. Always verify if a trading or investment platform is SEBI-registered before transferring even a single rupee,” he warned.
Police and Experts Urge Vigilance
Police officials have appealed to citizens to verify all online investment claims and to report suspicious links, calls, or messages immediately.
“Awareness remains the strongest defence against cybercrime,” said Professor Singh.
“Until people learn to think before they click, these networks will keep reinventing themselves.”
The Vizag case once again highlights how social media platforms are being exploited by global cyber gangs to weaponize trust and emotion. As investigators trace digital money trails across borders, experts stress that cyber literacy and public caution are the only real shields against the evolving menace of online financial fraud.
