Hyderabad: 23 December Posted on 8:26 PM IST
The Cybercrime Unit of Hyderabad City Police has issued a strong public advisory warning citizens about a rise in online trading and investment scams. Fraudsters are targeting victims via WhatsApp, Telegram, and social media, promising high profits in cryptocurrency and forex trading.
According to A Aravind Babu DCP Cyber Crime Hyderabad, scammers use fake websites and apps to show false profits, luring victims into investing more. In a recent incident, retired IPS officer and former Punjab IG Amar Singh Chahal was allegedly duped of ₹8.10 crore in a WhatsApp-based trading scam. Distressed by the financial loss, he reportedly died by suicide.
Police explained that the modus operandi begins with unsolicited messages from fake “investment advisors” who first gain trust and later manipulate victims with fake trading dashboards. When victims attempt to withdraw funds, they are forced to pay fabricated charges such as taxes or processing fees.
Citizens are advised to invest only through SEBI-registered platforms, avoid sharing personal banking details, and stay wary of “guaranteed profit” offers. Suspicious activities should be reported immediately to the National Cybercrime Helpline (1930) or at cybercrime.gov.in.
Mohammed Naseer Giyas is a multi-media and bilingual journalist with over 20 years of experience across print, digital, and television media. Founder of Raftaar-e-Deccan, he is an alumnus of IVLP, Thomson Reuters Foundation, and ICFJ, and has worked with leading English and Urdu news organisations.
