The Cyberabad Cybercrime Police have registered two major online trading fraud cases where unsuspecting victims lost over Rs 4.15 crores to fake stock trading platforms.

Fraudsters, posing as financial advisors from reputed firms, targeted victims via social media platforms like Facebook and Instagram. Victims were added to WhatsApp groups filled with fake participants showing manipulated profits. Using counterfeit trading apps and dashboards, scammers convinced victims they were earning huge returns.

To build trust, small withdrawals were initially allowed. Victims were later persuaded to make larger deposits under the pretext of IPO allocations and institutional accounts. When withdrawal requests were made, further payments were demanded for audits or release of shares.

In one case, a victim lost Rs 2.24 crores. In another, Rs 1.91 crores were transferred, of which only Rs 10.66 lakhs were returned briefly to reinforce the fraud.

The Cyberabad Police have frozen Rs 25.10 lakhs with swift action and coordination with banks. Investigations are ongoing, and efforts are being made to recover more funds. Authorities urge the public to stay alert and verify all investment opportunities through official channels to avoid falling victim to such scams.