Hyderabad, Nov. 5 -- The Cybercrime Unit of Hyderabad City Police has issued a public advisory warning citizens about a sharp increase in online trading and investment frauds.
Scammers are reportedly targeting victims through social media platforms, Telegram, and WhatsApp groups, luring them with promises of high returns in cryptocurrency, forex, or stock trading.
According to police statement here on Wednesday, the fraudsters use fake trading websites or apps to display false profits, tricking victims into investing more money. When victims attempt to withdraw funds, they are asked to pay additional "processing fees" or "taxes," and no withdrawals are ever processed.
The police have urged citizens to verify platforms before investing, b...