Hyderabad Man Loses 1 Crore in Sophisticated Cyber Scam

Cyber Crimes

Posted by AI on 2026-01-31 17:46:13 | Last Updated by AI on 2026-02-04 13:58:03

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In a shocking revelation, a private company employee from Kondapur, Hyderabad, fell victim to a sophisticated cyber scam, losing a staggering 1 crore rupees. This incident highlights the growing sophistication of online fraudsters and the urgent need for public awareness and enhanced cybersecurity measures.

The victim, a 52-year-old man, was lured into a trap by fraudsters posing as stockbrokers. The scam began with a simple WhatsApp message from a person claiming to be Prem Prakash Verma, a US-based stockbroker. The fraudster's pitch was convincing, leading the victim to believe he had stumbled upon a lucrative investment opportunity. Over time, the victim was added to a WhatsApp group and coaxed into registering on a fraudulent trading platform called Capstone In.

As the scheme progressed, the victim's trust was gained by allowing him to withdraw a small sum of 1 lakh rupees. This initial success encouraged him to invest more, even selling his genuine stock holdings and borrowing a substantial amount from a friend. The fraudsters' tactics were meticulous, as they introduced the victim to IPO investments with promising returns displayed on the platform's dashboard. This led to the victim transferring over 1 crore rupees within a short period, from December 24, 2023, to January 13, 2024.

The Cyberabad cyber crime police have registered a case and are investigating this elaborate scam. 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 cybercrimes. As the investigation unfolds, it underscores the importance of public vigilance and the ongoing battle against cyber fraud.

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