A shocking incident has emerged from Hyderabad where a 25-year-old resident of Begum Bazaar, whose identity remains protected, lost a staggering ₹12,56,900 to a sophisticated online stock trading scam. The victim was lured into the fraud through a meticulously crafted scheme involving a fake mobile application and a group chat on WhatsApp, leading to a police case being filed by the Hyderabad cybercrime unit.
The ordeal began on September 1 when the unsuspecting individual stumbled upon an advertisement on Instagram. The ad, which deceptively sported the well-known logo of Motilal Oswal, appeared legitimate. Believing it to be a genuine investment opportunity, he clicked on the link, which promptly directed him to a private WhatsApp group. Within this group, individuals masquerading as seasoned financial experts began dispensing advice and instructions on how to purchase various stocks.
Convinced by the convincing facade, the victim was then instructed to make his investments through a dedicated mobile application named “Modma.” Initially, the app displayed rapidly growing balances, creating an illusion of substantial profits and encouraging him to invest increasingly larger sums of money. However, after multiple transactions, a significant balance of ₹46,89,375 shown in the app suddenly became “frozen.” To his dismay, the fraudsters then demanded an additional ₹7,60,000, claiming it was necessary to “release” his supposed earnings. When he firmly refused to deposit any more money, the scammers resorted to threats, warning that his entire investment would be forfeited. It was at this critical juncture that the victim fully comprehended he had fallen prey to an elaborate scam, having already lost over ₹12.5 lakh.
In response to this and similar growing concerns, Hyderabad Cybercrime authorities have issued an urgent public advisory. They are strongly cautioning citizens against participating in any fraudulent investment schemes promoted via social media advertisements and unofficial WhatsApp groups. The police emphasize the importance of extreme vigilance, urging people never to click on suspicious links. Furthermore, they advise all potential investors to thoroughly verify any investment platform through its official company website or by consulting established regulatory bodies before committing any funds.