Hyderabad residents lose Rs 3.26 crore to cyber fraudsters

Three Hyderabad residents lost Rs 3.26 crore to cyber fraudsters through fake job offers and bogus stock investment schemes. Cyberabad Police have registered separate cases and cautioned citizens to be wary of promises of assured or quick returns online.

Hyderabad: Cyber fraudsters have duped three residents from Hyderabad to the tune of Rs 3.26 crore in separate instances by allegedly trapping them in fake online job offers and bogus stock market investment schemes.

In one incident, a retired defence department employee from Miyapur was duped of Rs 91.03 lakh after being offered a work-from-home job through Telegram. The fraudsters initially credited small amounts to gain confidence and later demanded large payments on the pretext of investment tasks and security deposits. The victim was allowed to withdraw only a negligible amount before the fraud came to light.

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In the second case, a homemaker from Dundigal lost Rs 1.09 crore after being added to a WhatsApp group posing as a “VIP” stock investment club. Fake profit screenshots and assurances of guaranteed returns prompted her to invest repeatedly. When withdrawals were blocked, she realised it was a scam.

In another instance, a former IT employee from Madinaguda was cheated of Rs 1.26 crore after responding to a social media advertisement offering trading guidance. After receiving initial profits, he invested larger sums before the fraudsters cut off communication.

Based on complaints, separate cases were registered at the Cyberabad Cybercrime Police Station and are being investigated.

Police requested the citizens to remain cautious of online job offers and investment schemes promising assured or quick returns.