Hyderabad Cybercrime police arrest suspect in Rs 32 lakh online trading scam
Hyderabad Cybercrime police arrested a Mumbai man in a Rs 32 lakh online trading scam linked to a Chinese national. Victims were lured via fake social media ads and trading apps. Authorities warn the public against fraudulent investment schemes and cryptocurrency traps.
Hyderabad: The Hyderabad Cybercrime police have arrested a key suspect in an online trading fraud case involving a loss of Rs 32 lakh, with links to a Chinese national operating through cryptocurrency channels.
The arrested suspect has been identified as Ansari Mohammed Umar Murad alias Umar (21), a resident of Mumbai. He was nabbed in connection with a recent case registered at the Cybercrime PS here.
According to police, the complainant came across a social media advertisement falsely claiming association with the Aditya Birla Group. After clicking the link, the victim was added to WhatsApp groups posing as elite stock and IPO advisory platforms. A woman claiming to be a trade advisor convinced the victim to invest through a fake trading application and websites.
The application displayed false IPO allotments and inflated profits, prompting the victim to transfer Rs 32 lakh to multiple bank accounts provided by the fraudsters. When the complainant refused to deposit an additional Rs 1 crore, the application stopped functioning, revealing the scam.
Police said Umar had direct contact with a Chinese national through Telegram and played a crucial role in converting the cheated money into cryptocurrency. Along with previously arrested accused, he converted nearly Rs 50 lakh into USDT and transferred it to crypto wallets provided by the Chinese handler.
Another suspect had facilitated mule bank accounts and allegedly withdrew Rs 12 lakh, passing it on to the fraud network after deducting commission.
Police seized one mobile phone and one laptop, which revealed Telegram chats, bank credentials and crypto transaction details.
Further investigations have revealed the suspects are involved in 12 similar cases across India, including Telangana, Maharashtra, Karnataka, Kerala and West Bengal.
Cybercrime Police cautioned the public against:
*Investment ads on social media promising guaranteed or high returns.
*WhatsApp and Telegram stock or IPO advisory groups.
*Downloading apps or clicking links from unknown sources.
*Sharing KYC, bank or OTP details.
*Providing bank accounts for commission-based use.
*Victims of cyber fraud are advised to immediately call 1930 or report on the national cybercrime portal.
