The Cyber Crime wing of Cyberabad police managed to block or freeze ₹25.10 lakh in fraudulent transactions after two major investment scams came to light, in which victims were cheated of more than ₹4 crore through fake online trading platforms.
Officials said ₹4.33 lakh was frozen in one case and ₹20.76 lakh in the other due to timely reporting on the National Cybercrime Reporting Portal and with the support of banks. These sums will be refunded to the victims after due legal process through court orders.
According to officials, fraudsters created counterfeit trading applications using the names of reputed financial service companies and lured victims with promises of assured profits through stock trading, block deals and IPO allocations.
Victims were initially approached on social media platforms such as Facebook and Instagram and later added to WhatsApp groups designed to appear active, where fabricated profits and transactions were showcased. Using the photos and names of well-known executives, the fraudsters posed as analysts and advisors, persuading victims to deposit large sums.
The victims were asked to download fraudulent trading applications where manipulated dashboards displayed inflated profits. Small withdrawals were occasionally allowed to build confidence, before larger deposits were demanded. When victims attempted to withdraw their investments, they were instructed to deposit additional sums under the pretext of clearing audits or releasing IPO shares.
In the first case, a victim was cheated of ₹2.24 crore. In the second, another victim lost ₹1.91 crore, of which only ₹10.66 lakh was briefly returned to create an illusion of authenticity. Together, the total loss amounted to ₹4.15 crore.
Cyberabad Police have urged citizens to remain vigilant against such schemes, stressing that no genuine financial institution promises guaranteed IPO allotments, block deals or abnormally high profits. Citizens have been advised to verify trading apps through official company websites and app stores, avoid transferring funds to unknown accounts, and directly confirm the identities of financial advisors.
Anyone targeted by such scams is urged to report immediately to the Cybercrime Helpline 1930 or via the National Cybercrime Reporting Portal at www.cybercrime.gov.in.
Published – September 27, 2025 08:56 pm IST
