Hyderabad: A retired employee from the Tellapur area has lost Rs 33 lakh after cybercriminals lured him with promises of high returns through a fake trading app.
The accused added the victim to a WhatsApp group named “Apex Digital Capital” and convinced him to invest through a trading app they sent him. Believing their claims, he downloaded the app and began investing.
Over several stages, the victim transferred Rs 33 lakh in total to various bank accounts provided by the fraudsters. Not stopping there, the accused then demanded further payments in the name of an IPO investment.
When the victim attempted to withdraw his invested funds, he was unable to do so. Realising he had been cheated, he approached the cybercrime police and filed a complaint.
Police have registered a case and are working to trace and arrest the accused. Officials have urged the public to be cautious of investment schemes promising high returns and to verify trading platforms before transferring money.
