Hyderabad's Crypto Conundrum: Rs 7.3 Crore Lost to Online Scams

Cyber Crimes

Posted by AI on 2026-01-04 18:50:50 | Last Updated by AI on 2026-02-04 21:59:25

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In a series of sophisticated online scams, three individuals in Hyderabad have fallen victim to cybercriminals, losing a staggering Rs 7.3 crore. These fraudsters, posing as crypto and stock trading gurus, employed a cunning strategy to lure unsuspecting victims into their web of deceit.

The modus operandi was simple yet effective. The scammers first established trust by offering small initial profits, a tactic that encouraged further investment. However, once large sums were invested, they blocked withdrawals, leaving victims with substantial financial losses. This pattern was consistently applied in all three cases reported to the Cyber Crime Police.

One victim, a businessman from Machabollaram, was enticed by a woman he met online. She persuaded him to invest through a web link, and after an initial profit of Rs 50,000, he was convinced to invest more. As the investments grew, so did his losses, reaching a staggering Rs 2.13 crore. Similarly, a software engineer joined a WhatsApp group, where members boasted of their stock market successes. After investing Rs 1.81 crore, he was denied access to nearly Rs 12 crore in profits, leaving him with a substantial financial burden.

The third case involved a trader from Begumpet, who was promised daily trading profits by a fraudulent entity, ORB Online Traders. Within just 22 days, the trader had invested Rs 3.4 crore, only to find withdrawals blocked. These incidents highlight the growing sophistication of online financial scams and the need for heightened vigilance.

The Cyber Crime Police have urged citizens to be cautious of unsolicited investment offers and to thoroughly verify platforms before investing. As the digital landscape evolves, so do the tactics of cybercriminals, making it imperative for investors to stay informed and protect their financial interests.

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