A 47-year-old software engineer from Tellapur has fallen victim to cyber fraudsters, losing a staggering Rs 3.26 crore after being lured into investing through a fraudulent stock trading application. The Telangana Cyber Security Bureau (TGCSB) registered a case on Monday based on the victim's complaint and has initiated a thorough investigation.
How the Scam Unfolded
According to the complainant, the ordeal began on October 31, 2025, when he received a WhatsApp message from an unknown number containing a link to join an online stock trading tips group. Upon clicking the link, he was added to a group titled 'Stocko Traders Hub A663.' The group administrators, identified as Swati Verma and Rakesh Kumar Jain, actively promoted stock market trading tips and IPO investment opportunities, promising assured profits.
The accused regularly shared screenshots of purported profits and successful withdrawals to build trust and lure victims into investing through their proprietary application. After several weeks of interaction, the victim was instructed to download the 'STOKOHNI' application via a provided link and create an account. Convinced of the platform's legitimacy, he began transferring funds to various bank accounts specified by the fraudsters.
Financial Losses Mount
Between December 2025 and January 2026, the complainant deposited over Rs 3.36 crore into the accounts. During this period, he was allowed to withdraw Rs 10 lakh, which further cemented his belief in the scheme. However, when he attempted to withdraw additional funds, the fraudsters blocked his requests and demanded extra payments as service charges. The victim refused to comply, resulting in a total loss of Rs 3.26 crore.
By mid-March, the application became inaccessible, and all communication with the fraudsters ceased. After waiting for a response for nearly two months, the victim finally approached the police on Monday to file a complaint.
Legal Action Taken
The TGCSB has registered a case under Section 66-D of the Information Technology Act, along with relevant provisions of the Bharatiya Nyaya Sanhita. Authorities are now working to trace the fraudsters and recover the stolen funds.
