Hyderabad Cybercrime Unit warns of surge in online trading and investment scams
The Hyderabad Cybercrime Unit warned citizens against rising online trading scams run via Telegram and WhatsApp. Fraudsters lure victims with false profit dashboards and demand repeated processing fees. Police urged investors to verify platforms and report scams to 1930.
Hyderabad: The Hyderabad Cybercrime Unit has issued a public advisory warning citizens about a surge in online trading and investment scams being operated through social media platforms including Telegram and WhatsApp groups.
According to Cybercrime officials, fraudsters were luring victims with promises of high profits in cryptocurrency, Forex or stock trading, using fake trading websites and dashboards to display false profits and convince users to invest larger sums.
Police said scammers typically initiate contact through unsolicited messages posing as financial advisors.
They encourage small initial investments, then display fake profits.
They further demand repeated processing fees for withdrawals under the guise of taxes, conversion charges or compliance fees.
Also, they use threats of legal action or claim that funds will be frozen if victims hesitate.
Despite high wallet balances shown on fake apps, no withdrawals are ever permitted, leading to heavy financial losses.
Police Advisory:
* Verify before investing, check SEBI registration and platform authenticity.
*Be cautious of high returns, genuine investments involve risk.
*Never share banking or OTP details with unknown persons.
*Avoid paying extra processing fees or compliance charges.
* Beware of fake dashboards showing unrealistic profits.
*Ignore threats or coercion from online agents.
Report immediately via the National Cybercrime Helpline (1930) or cybercrime.gov.in.
