Hyderabad Cybercrime Police warn of rise in online trading frauds
The Hyderabad Cybercrime Police warned citizens about a surge in online trading and investment scams. Fraudsters are cheating victims through fake trading platforms promising high returns. Officials urged the public to stay alert and report suspicious activity to 1930 or cybercrime.gov.in
Hyderabad: The Hyderabad Cybercrime Police have issued a public advisory alerting citizens about a sharp rise in online trading and investment frauds.
According to Cybercrime officials, scammers are cheating victims through social media, Telegram, and WhatsApp groups by promising high or guaranteed returns in cryptocurrency, Forex, and stock trading.
“Fraudsters lure victims to invest small amounts initially through fake trading platforms that display manipulated profits. Once trust is gained, they demand further payments in the name of taxes, conversion fees, or compliance charges,” police said.
Victims are later threatened or prevented from withdrawing their money, resulting in heavy financial losses.
Officials have urged citizens to verify trading platforms before investing, stay alert against unrealistic returns, and never share personal or banking details with unknown persons.
Those noticing suspicious activity have been advised to report immediately through the National Cybercrime Helpline (1930) or at cybercrime.gov.in.
