Hyderabad Seniors Scammed of ₹1.18 Crore via Fake Trading Apps: How to Stay Safe Online

Cybercriminals are becoming increasingly sophisticated—and this time, their targets were two senior citizens from Hyderabad. Using fake trading apps, bogus government documents, and intimidation tactics, fraudsters conned the victims out of over ₹1.18 crore. The scammers falsely claimed that the investment platforms were SEBI-approved and promised huge returns on stock market and IPO investments. Here's a detailed look into how the fraud unfolded and, more importantly, how you can protect yourself from such scams.

📉 The Scam Breakdown: How It Happened

Case 1: ₹86.41 Lakh Conned Through Fake Apps

A 64-year-old man from Yousufguda was the first victim. He was lured via WhatsApp messages into investing through two fraudulent trading apps, which were presented as SEBI-authorized platforms.

• He invested ₹71.75 lakh in one of the apps.

• The app falsely showed profits of ₹4.78 crore.

• When he attempted to withdraw ₹2.5 crore, he was told to first deposit 20% of the profit—nearly ₹50 lakh—as a prerequisite.

• This additional amount could not be deducted from the app balance, raising suspicion.

In a second round, he invested ₹14.66 lakh through another fake app that showed a profit of ₹5.56 lakh. However, when he refused to deposit 30% of the gains upfront, his account was blocked. To intensify fear, scammers even sent him a forged Enforcement Directorate (ED) notice, accusing him of money laundering.

Case 2: ₹32.2 Lakh Taken from a Retired Govt. Official

In the second incident, an 83-year-old retired government employee from Lalaguda received a threatening call on June 23, 2025.

• The caller claimed that an arrest warrant had been issued under the Prevention of Money Laundering Act, 2002.

• Fraudsters used his Aadhaar details, fake ED documents, and counterfeit seals to convince him.

• Impersonating ED and police officers, they threatened him with arrest and transportation to Mumbai.

Terrified, the victim was coerced into multiple payments to allegedly "close the case." Later, scammers asked for a “loyalty payment”, stating that officials had helped resolve his case. They promised a government refund and compensation, but even after the payments, the calls and threats continued to make the fraud appear legitimate.

🛡️ How to Protect Yourself from Such Scams

With cyber frauds on the rise, especially targeting the elderly and vulnerable, staying informed is the best defense. Here's how to stay safe:

✅ 1. Don’t Fall for Threats

Scammers often use fear—threats of arrest or legal action—to pressure victims. Real government authorities never demand money through calls or apps.

✅ 2. Avoid Unverified Apps

Never download trading or financial apps via WhatsApp, messages, or unknown websites. Before investing, verify the app’s legitimacy on the SEBI website or official app stores.

✅ 3. Think Before You Pay

Promises of quick, high returns are often traps. If you're asked to pay money upfront to withdraw profits, it's almost certainly a scam.

✅ 4. Verify Official Notices

Received a document claiming to be from ED or the police? Don’t panic. Cross-check it with the issuing authority by contacting them directly. Avoid sharing Aadhaar, PAN, or bank details with unknown contacts.

✅ 5. Report Suspicious Activity

If you suspect fraud or receive suspicious communication, report it to:

• National Cyber Crime Portal: cybercrime.gov.in

• Cyber Crime Helpline: 1930

📢 Final Words: Awareness is Your Best Defense

These Hyderabad incidents serve as a stark reminder of how even cautious individuals can fall prey to tech-savvy scammers. Fake trading platforms and phishing tactics are being used to loot unsuspecting people, especially seniors. Always stay alert, verify every investment opportunity, and never respond to threats with fear.

If you or someone you know has been targeted, take swift action and spread awareness—because when it comes to cyber fraud, prevention truly is better than cure.

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