Hyderabad student duped of ₹1 lakh in investment scam
A 19-year-old student from Hyderabad was duped of over ₹1 lakh after falling prey to an online investment scam via Instagram that 'offered' a commission-based earnings opportunity linked to an e-commerce platform.
The victim, who received an initial message on Instagram followed by further contact on WhatsApp from an international number, was directed to a Telegram group and a website which was falsely branded to look like a popular e-commerce website's official platform, said an officer from the cyber crime police.
Trusting the appearance and communication, she created an account and began investing small sums.
'The fraudsters lured her in by returning a small profit, an initial ₹1,000 investment saw ₹228 credited to her account. A subsequent ₹500 investment yielded a ₹1,600 return, encouraging the student to believe the scheme was legitimate. Over time, driven by trust and fear of losing prior investments, she borrowed money from friends and invested a total of ₹1,09,404,' said the officer.
The fake platform showed her a balance of ₹1.81 lakh on its dashboard but disabled the withdrawal feature. The fraudsters demanded a final ₹58,000 to process the withdrawal, assuring her repeatedly that it would be the 'last transaction.' When she threatened to report them to the police, all communication ceased and her funds vanished.
An online complaint has since been lodged by the victim, and Hyderabad Cyber Crime Police have issued a public advisory urging people, particularly students and young adults, to remain alert to such scams.
Victims of such frauds are urged to report immediately via the national cybercrime portal (https://cybercrime.gov.in), dial 1930, or contact the Hyderabad Cyber Crime Police directly on WhatsApp at 8712665171.
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