Cyber Fraudsters Target Senior Doctor Through Fake Crypto Trading Platform
In a major cyber fraud case from Andhra Pradesh, a prominent doctor from Guntur allegedly lost nearly Rs 13 crore in a sophisticated cryptocurrency investment scam operated through fake online trading platforms.
Following a complaint filed by the victim, police have registered a case and launched a detailed investigation into the cybercrime network suspected to be behind the large-scale fraud.
The incident comes amid a sharp rise in online investment scams and cryptocurrency fraud cases reported across India.
Fraudsters Promised Huge Returns Through Crypto Investments
According to reports, the doctor was allegedly approached through online platforms promoting cryptocurrency trading and digital investment schemes that promised exceptionally high returns.
To gain the doctor’s confidence, the fraudsters reportedly created fake online dashboards showing massive profits and growing investment values, making the scheme appear legitimate and highly profitable.
Investigators believe the scammers used psychological manipulation and fabricated trading data to convince the victim to continue investing larger amounts over time.
Doctor Invested Personal Funds and Money from Associates
Encouraged by the apparent profits displayed on the platform, the doctor allegedly invested huge sums over several months.
Reports suggest that the victim not only invested his own money but also persuaded close friends and associates to contribute funds after being convinced about the authenticity and profitability of the investment scheme.
The scam reportedly expanded as trust in the fake platform increased due to the manipulated profit figures shown online.
Withdrawal Requests Triggered Suspicion
The fraud came to light when the doctor attempted to withdraw the invested amount.
Although the online account continued displaying large profits digitally, withdrawal requests were allegedly delayed, blocked repeatedly, or ignored by the operators managing the trading platform.
After facing continuous obstacles and receiving suspicious responses from the platform handlers, the doctor reportedly realised he had fallen victim to a major cyber fraud operation.
He subsequently approached the police and filed an official complaint.
Police Suspect Organised Cybercrime Syndicate
Cybercrime investigators suspect that the fraud may be linked to a larger organised network operating fake cryptocurrency and online investment portals designed to trap unsuspecting investors.
Officials are currently tracing the money trail, digital wallets, linked bank accounts, online communications, and transaction records connected to the scam.
Authorities are also investigating whether similar frauds have been carried out against other victims using the same network and platforms.
Rise in Cryptocurrency Investment Frauds
The case highlights the growing threat posed by fake cryptocurrency investment schemes, which often lure victims with promises of guaranteed profits, quick returns, and sophisticated-looking trading dashboards.
Cybercrime experts have repeatedly warned investors against trusting unverified investment apps, Telegram groups, or online trading platforms offering unrealistic returns.
Similar Case Reported in Ahmedabad
In another recent incident, an assistant professor associated with U N Mehta Hospital in Ahmedabad was allegedly duped of Rs 70,000 in a Forex and cryptocurrency investment scam operated through Telegram.
The victim, an Assistant Professor in the Cardiac Anaesthesia department and a resident of the postgraduate hostel at U N Mehta Hospital in Asarwa, was reportedly targeted through an online investment group promoting high-return trading schemes.
Police Urge Public to Remain Vigilant
Cybercrime officials have advised the public to remain cautious while dealing with cryptocurrency investments and online trading offers circulated through social media, messaging apps, and unknown platforms.
Authorities have urged citizens to verify the authenticity of investment platforms, avoid schemes promising guaranteed profits, and immediately report suspicious financial activity to cybercrime helplines or local police.
