Secunderabad man loses Rs 24.44 lakh in gold trading scam

A Secunderabad man lost Rs 24.44 lakh after cyber scammers lured him into investing in a fake gold trading app promising high profits. When he was unable to withdraw his money, the fraudsters demanded more payments. A case has been registered

Hyderabad: Cyber scammers duped a man of Rs 24.44 lakh on the pretext of high profits in the gold business.

The man, a resident of Secunderabad, had received a WhatsApp message nearly a year ago from a person named Sharanya. The caller slowly befriended him and lured him into trading through an app called KDEOne Gold, assuring him of 70 per cent profits.

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Believing them, the victim invested Rs 24.44 lakh in KDEOne Gold and later was unable to withdraw the amount he invested and the profits. When he contacted the fraudsters, they demanded that he transfer more money towards taxes and conversion charges. Realising that he was duped, the man approached the police, who registered a case.