Hyderabad: The Hyderabad Cyber Crime Unit has issued an urgent warning to citizens regarding an alarming surge in online trading and investment scams. Police officials stated that fraudsters are increasingly luring victims through social media platforms, Telegram, and WhatsApp groups by promising astronomical returns or guaranteed profits in cryptocurrency, forex, and stock trading. To facilitate these scams, criminals often deploy fake websites, fraudulent trading dashboards, and mobile apps designed to display fabricated profits, thereby manipulating victims into investing larger sums of money.

A recent tragic case involving Amar Singh Chahal, a retired IPS officer and former Punjab cadre IG, underscores the devastating severity of these crimes. Chahal was allegedly duped of Rs 8.10 crore after falling prey to a sophisticated WhatsApp-based investment scam over a two-month period. Having reportedly borrowed nearly Rs 7.5 crore from friends and relatives to fund the fake investments, the retired officer allegedly died by suicide due to overwhelming financial and emotional distress. Cyber Crimes DCP V Aravind Babu remarked that the case serves as a grim reminder of the impact of cyber investment fraud, strongly advising citizens to avoid unverified platforms and never trust online profit guarantees.

The DCP detailed a specific modus operandi where the fraud begins with an unsolicited message from someone posing as an investment advisor. Once rapport is established, victims are introduced to a “trading opportunity” promising quick returns. The scammers then use manipulated platforms to show fake wallet balances, making the returns appear real and withdrawable. However, when a victim attempts to withdraw their funds, they are met with repeated requests for additional payments under the guise of processing fees, tax payments, currency conversion charges, or compliance fees. New reasons are constantly invented to demand more money, and if the victim hesitates, scammers often resort to fear tactics, such as threatening legal action or claiming that the funds will be permanently frozen.

Authorities have advised the public to always verify the authenticity of trading platforms and investment agents before making any financial commitments. Citizens should check for official registration and licences with the Securities and Exchange Board of India (SEBI) and avoid any platforms contacted through unsolicited social media messages. Experts remind the public to remain cautious of promises of guaranteed high returns, as legitimate investments always carry inherent risks. Sensitive information, including bank account numbers, OTPs, and UPI PINs, must never be shared with unknown individuals. Any suspected fraud should be reported immediately to the National Cyber Crime Helpline on 1930 or via the official portal at cybercrime.gov.in.