Hyderabad, Jan. 30 -- The Cybercrime Unit of the Hyderabad City Police on Friday issued a public advisory warning citizens about a sharp rise in online trading and investment frauds, where scammers lure victims with promises of high or guaranteed returns in cryptocurrency, forex and stock trading.
According to the advisory, fraudsters typically contact victims through social media platforms, Telegram or WhatsApp, posing as investment advisors. After gaining trust, they encourage small initial investments and display fake profits on manipulated websites or apps.
Victims are then repeatedly asked to pay additional charges such as taxes, withdrawal or processing fees, while actual withdrawals are never permitted. In some cases, scammers reso...