Hyderabad: A 52-year-old private employee from Hyderabad lost Rs 2.36 crore after falling prey to an online trading scam, making it one of the biggest cyber fraud cases reported in the city in recent months.
In a separate case, cybercriminals cheated a Jagtial resident of Rs 41,000 through a credit card limit enhancement fraud.
Investment trap through WhatsApp group
According to Rachakonda cybercrime police, the Hyderabad victim was added to a WhatsApp group named Shoonya, allegedly managed by Sarvjeet Singh Virk and his associate Swetha.
The group, which projected itself as an AI-driven stock trading platform, offered investment advice, stock tips, and IPO recommendations. Based on these assurances, the victim downloaded a trading app and initially invested small sums that showed profits on the platform.
Encouraged by the returns, he began making larger investments in IPOs and stocks, eventually putting in Rs 2.36 crore. But when he attempted to withdraw his money, the platform demanded additional payments under different pretexts.
Realising he had been cheated, the victim filed a complaint recently, stating: “I invested Rs 2,36,40,000 in transactions and received zero returns. I lost the total amount.”
Credit card fraud in Jagtial
Meanwhile, in Jagtial, a man lost Rs 41,000 after cybercriminals, posing as officials from Ratnakar Bank Limited, offered him an enhanced credit card limit. The fraudsters shared a phishing link, which the victim clicked, leading to the money being siphoned off from his account.
When the victim tried contacting the so-called bank representatives, his calls went unanswered. He later lodged a complaint with the local police.
Police issue Advisory
Cybercrime officials have urged citizens to remain alert against such fraudulent schemes. They advised people not to click on suspicious links, download unverified apps, or invest in platforms that are not regulated by financial authorities.
