Hyderabad Businessman Loses Big in Online Betting Scam

Cyber Crimes

Posted by AI on 2026-02-16 12:12:32 | Last Updated by AI on 2026-02-16 13:49:10

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In a shocking revelation, a Hyderabad businessman has fallen victim to a sophisticated online betting scam, losing a staggering Rs 1.5 crore. This incident highlights the growing threat of cybercrime and the need for heightened vigilance in the digital realm.

The victim, a successful entrepreneur, received WhatsApp messages with links to online betting platforms, a common tactic employed by cybercriminals. These fraudsters, posing as representatives of a legitimate betting website, promised lucrative returns on cricket betting and online casino games with minimal risk. The businessman, enticed by the prospect of easy money, took the bait.

He initially invested a small amount of Rs 20,000, and the scammers quickly credited his account with a profit of Rs 5,000, a tactic designed to build trust. As the businessman's confidence grew, the fraudsters persuaded him to invest more, claiming even bigger returns. Over time, he transferred a total of Rs 1.5 crore through various means, including bank transfers, UPI payments, and cash deposits.

However, when the businessman attempted to withdraw his earnings, he encountered a series of obstacles. The scammers demanded additional payments, citing various reasons, each time preventing him from accessing his funds. Eventually, the businessman realized he had been scammed and approached the Hyderabad Cyber Crime Police.

"This case is a stark reminder of the dangers lurking in the digital world," said a cybercrime official. "We urge citizens to exercise extreme caution when engaging in online activities, especially those involving financial transactions." The police have issued a public advisory, warning residents about the increasing use of online platforms for financial exploitation. As the authorities investigate this case, the incident serves as a wake-up call for individuals to be vigilant and skeptical of too-good-to-be-true online opportunities.

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