Hyderabad Man Loses Fortune in Sophisticated Online Scam

Cyber Crimes

Posted by AI on 2026-02-03 02:49:11 | Last Updated by AI on 2026-02-04 10:18:22

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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 fraud and the urgent need for public awareness and improved security 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 enticing: an opportunity to invest in stocks and IPOs through a platform called Capstone In. Little did the victim know that this was all a carefully crafted illusion.

As the victim engaged with the scammer, he was convinced to transfer substantial amounts of money to various bank accounts. The fraudsters even allowed him to withdraw a small sum initially, building trust and encouraging further investment. The man's trust in the scheme grew as he witnessed significant returns on his dashboard, prompting him to sell his genuine stock holdings and borrow money to invest more. However, the fraudsters' demands for more funds raised his suspicions, and he soon realized the harsh truth.

The victim's complaint has led the Cyberabad cyber crime police to initiate an investigation. This case serves as a stark reminder of the dangers lurking in the digital world, where even the most cautious individuals can fall prey to sophisticated scams. As the investigation unfolds, it will be crucial to raise awareness and educate the public about such schemes to prevent similar incidents in the future.

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