Cyber Fraudsters Use Instagram Ads and WhatsApp to Lure Victims; Fake Profits of Up to ₹14 Crore Displayed Before Blocking Withdrawals
Hyderabad Cybercrime Police Register Cases; Similar High-Value Investment Frauds Reported Across India
In a shocking case of cyber fraud, two doctors from Hyderabad have allegedly been cheated in separate online investment scams involving fake trading platforms that promised high returns, police officials said. The fraudsters reportedly used social media advertisements and psychological manipulation techniques to trap the victims.
According to officials, a doctor from AC Guards in Nampally was first targeted through an Instagram advertisement promoting online investment opportunities with assured profits. After clicking the link, he was contacted on WhatsApp by a woman who guided him into investing through a fake trading platform. Believing the claims, the doctor invested more than ₹1.76 crore.
The fraudulent platform later displayed fake profits of nearly ₹14 crore in his account. However, when he attempted to withdraw the money, the accused allegedly demanded additional payments and blocked the withdrawal process, citing technical issues and other excuses.
Realising he had been duped, the victim approached the Hyderabad Cybercrime Police and lodged a complaint.
In another similar incident, a doctor from Asifnagar was allegedly cheated of ₹28.54 lakh by the same woman. In this case too, the fake platform reportedly showed fabricated profits worth ₹73.92 lakh, but the victim was denied withdrawal access and pressured to invest more funds.
Cybercrime officials have registered separate cases and launched an investigation into both incidents. Authorities said the fraudsters are using structured psychological tactics, including displaying fake profits, creating urgency for further investments, and blocking withdrawals to trap victims deeper into the scam.
Officials further noted that such online investment frauds are rapidly increasing across the country. In a related case earlier, a doctor from Guntur reportedly lost nearly ₹13 crore in a similar cryptocurrency investment scam involving fake trading platforms.
