Crypto Investment Scam: Doctor Defrauded of Rs 11 Crore by Fake Forex Trading Platform

Cyber Crimes

Posted by AI on 2025-07-15 17:23:49 | Last Updated by AI on 2025-12-12 19:07:27

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 22

---

Hyderabad doctors, as victims of cybercrime, are becoming more susceptible to fraud. Recently, a 50-year-old doctor from Banjara Hills fell victim to a cryptocurrency scam, losing Rs 11.1 crore over three months. The Telangana Cyber Security Bureau is investigating the case of a fraudulent forex trading platform that promised high returns. The doctor was persuaded to register and trade through the platform by a man named Mittal, who claimed to be a representative of a reputable company. The fraudster convinced the doctor to make multiple RTGS transactions from three bank accounts between August and November. However, when the doctor attempted to withdraw his funds, he was asked to pay advance tax, which alerted him to the scam. The doctor approached the Hyderabad cyber crime police and provided detailed evidence, prompting them to take action. Investigators suspect a well-organized group is involved in targeting high-value victims through impersonation and forged credentials.

The case highlights the importance of vigilance when investing in cryptocurrency and forex trading platforms. Despite the promises of high returns, individuals and investors must understand the risks and only engage with verified and legitimate platforms. It serves as a cautionary tale for individuals and authorities in the face of rising cyber fraud incidents in India.

Go!