Online Trading Scams Rise, Warns Hyderabad Police

• Cybercrime Unit alerts citizens on fake investment platforms
• Fraudsters use social media to lure victims into trading traps

The Cybercrime Unit of Hyderabad City Police has issued a strong warning to the public about a growing wave of online trading and investment scams operating through social media platforms, Telegram, and WhatsApp. According to the advisory, fraudsters are enticing people with promises of guaranteed high profits in cryptocurrency, forex, or stock trading. The police said these scams rely heavily on fake websites, dashboards, and mobile apps that display false profits to trick victims into investing more money.

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Officials cautioned that the fraud typically begins with an unsolicited message sent by someone posing as an investment advisor or trading agent. “The agent builds rapport with the victim and introduces a so-called online trading opportunity, promising high and quick returns,” the report stated. Victims are often convinced to make a small initial investment to appear legitimate. The scammers then offer what looks like real-time online support, creating the illusion of authentic trading activity and profit-making.

After some time, the manipulated platforms start showing large profits. When victims try to withdraw their funds, they are told to pay different “processing fees” such as tax payments, currency conversion charges, withdrawal fees, or compliance charges. Each payment is followed by new demands. “Each time a payment is made, a new reason is invented to demand more money,” the advisory noted. If victims hesitate or question these demands, scammers use pressure tactics like threatening legal action or claiming that the investment wallet will be frozen.

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Eventually, victims realize that despite having large credited balances displayed on the platform, withdrawals are never allowed. By the time they understand it is a scam, they often lose substantial amounts of money. The Hyderabad Cybercrime Unit urged citizens to invest only through verified trading and investment platforms and to avoid believing claims of unrealistic profits. It advised victims to immediately report such incidents to the National Cyber Crime Helpline by dialling 1930 or visiting the official portal at cybercrime.gov.in.

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