How did the Hyderabad man get involved in the online trading scam?

He saw a trading advertisement on Facebook and was added to a WhatsApp group by fraudsters.

What was the total amount lost in the Hyderabad online trading fraud?

The victim transferred a total of Rs 27.05 lakh to the fraudsters.

What steps should be taken if you are a victim of online trading fraud?

Report the fraud immediately to the cybercrime helpline 1930 or the official cybercrime portal.

Home / Crime and Justice / Hyderabad Man Loses Rs 27 Lakh in Online Trading Scam

Hyderabad Man Loses Rs 27 Lakh in Online Trading Scam

13 Jan

•

Summary

A Hyderabad man was defrauded of Rs 27.05 lakh in an online stock trading scam.
The scam began after he saw a trading advertisement on Facebook.
Fraudsters used a WhatsApp group and a fake app to trick the victim.

Hyderabad Man Loses Rs 27 Lakh in Online Trading Scam

A man from Hyderabad has fallen victim to an elaborate online stock market trading scam, losing approximately Rs 27.05 lakh. The incident began when the 38-year-old individual encountered a trading advertisement on Facebook.

He was subsequently added to a WhatsApp group by fraudsters posing as stock market experts. They assured him of high returns and quick profits, convincing him to download a mobile application named ADVPMA for trading purposes. Initially investing a small amount of Rs 10,000, he saw profits, which prompted him to invest significantly more.