Hyderabad Man Scammed: 54 Lakh Lost to Fake Trading Site

Cyber Crimes

Posted by AI on 2025-11-02 21:00:07 | Last Updated by AI on 2026-03-31 12:35:28

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 34

---

In a shocking revelation, a Hyderabad businessman has fallen victim to a sophisticated online scam, losing a staggering 53.99 lakh rupees to fraudsters posing as stock traders. The incident, reported on October 28, highlights the growing threat of cybercrime and the need for vigilance in the digital age.

The victim, a resident of Gachibowli, was lured by a Facebook advertisement promising lucrative stock trading opportunities with expert guidance. The ad featured a trading coach, Prof Aditi Sharma, who offered high returns on investments. Unbeknownst to him, this was the beginning of a well-crafted deception. He registered on the website www.ubsin.net, which appeared legitimate, and was contacted by a woman named Marry, claiming to be a group analyst with UBS Institutional Accounts. She directed him to download the UBSIN trading app and set up an account, further solidifying the scam's authenticity.

The businessman's trust was exploited as he transferred significant sums of money into various accounts provided by the fraudsters. The scammers even displayed large virtual profits, showing 90.72 lakh rupees in his wallet, a tactic to encourage further investment. When the victim requested to withdraw his funds, the fraudsters' true intentions became apparent. The withdrawal options were disabled, and all communication channels were shut down, leaving the victim stranded and cheated.

The Cyberabad Cybercrime police have registered a case and are now on the trail of these online criminals. This incident serves as a stark reminder of the dangers lurking in the digital realm, where even the most cautious individuals can fall prey to sophisticated scams. As the investigation unfolds, the public is urged to exercise extreme caution when engaging in online financial activities.

Go!