Hyderabad, Sept. 27 -- Cyberabad Cyber Crime Police on Saturday registered two major cyber fraud cases in which victims were duped of more than Rs 4 crore through fake stock trading platforms.
Fraudsters misused the names of reputed financial service companies, created fraudulent mobile applications, and lured victims with promises of assured profits from stock trading, block deals, and IPO allocations.
A Police statement said the fraudsters first contacted victims via Facebook and Instagram and later added them to WhatsApp groups that appeared active, with fake participants showcasing fabricated profits. Using the names and photos of well-known financial executives, the culprits posed as analysts and advisors. Victims were persuaded to d...