Hyderabad Man Loses Rs 2.2 Crore in Elaborate WhatsApp Stock Trading Scam
In a shocking case of cyber fraud, a 63-year-old private employee from Trimulgherry, Hyderabad, has been defrauded of over Rs 2.2 crore in a sophisticated online stock-trading scam. The victim was ensnared through a WhatsApp group operated by cybercriminals who impersonated well-known market experts to gain his trust.
How the Scam Unfolded
According to police reports, the victim was added to a WhatsApp group titled "H911 MO Market Think Tank" on December 21, 2025. The group administrators falsely presented themselves as financial gurus Raamdeo Agarwal, Maniklal, and Siya Verma. They regularly shared stock tips and screenshots of purported profits, creating an illusion of legitimacy to build the victim's confidence.
The fraudsters then convinced the victim to download a trading application via a link shared in the group. Initially, the app displayed small profits, which encouraged the victim to invest increasingly larger sums. However, when he attempted to withdraw his funds, his access to the application was abruptly blocked.
Escalating Demands and Financial Loss
In a cruel twist, the scammers demanded additional payments to unfreeze the account. The victim revealed to police, "Despite transferring over Rs 2.2 crore, including Rs 62.5 lakh as an unfreezing fee, I was not allowed to withdraw, and an additional Rs 40 lakh was sought." When he refused to pay further, the accused ceased all communication.
Police Investigation and Legal Action
Based on the victim's complaint, the Malkajgiri cyber crime police have registered a case and launched a thorough investigation. The case has been filed under multiple sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act, including:
- Sections 316(2) for criminal breach of trust
- Section 318(4) for cheating
- Section 319(2) for cheating by personation
- Section 338 for forgery of valuable security
- Sections 66C and 66D of the IT Act
Authorities are actively pursuing leads to identify and apprehend the perpetrators behind this elaborate fraud. This incident highlights the growing threat of cybercrime targeting unsuspecting individuals through social media and messaging platforms.
