City woman duped of Rs 2.5 crore in online trading scam
A woman from Visakhapatnam lost more than Rs 2.5 crore in an online stock trading scam that operated between June and September this year.
According to the cybercrime police, the victim came across a WhatsApp post promoting a “quick-profit” trading opportunity. Believing it to be genuine, she joined the group, where members posing as successful traders shared screenshots of fake profits to attract investors.
Soon, cybercriminals posing as customer support executives contacted her using multiple phone numbers. They convinced her to download a trading app and open an account, assuring her of high returns. Trusting their claims, she transferred large sums of money through UPI and other online payment modes to several bank accounts in different cities.
Investigators said the app displayed fake profits to maintain the illusion of success. When she tried to withdraw her funds, she was told to invest more to “unlock” her earnings. After she refused, the fraudsters removed her from the WhatsApp group and cut off all communication.
Realising she had been duped, the woman lodged a complaint with the Cybercrime Police Station. A case has been registered, and an investigation is underway to identify the suspects and recover the money.
Visakhapatnam Commissioner of Police Shanka Brata Bagchi urged citizens to stay vigilant while dealing with online investment offers. He advised people to verify financial platforms before transferring money and to report suspicious activities to the cybercrime helpline 1930.