The Cybercrime Unit of Hyderabad City Police has warned the public about a sharp rise in online trading and investment frauds. Retired IPS officer and former Punjab cadre IG Amar Singh Chahal reportedly lost Rs 8.10 crore in a sophisticated WhatsApp-based investment scam. Over two months, he borrowed nearly Rs 7.5 crore from friends and relatives, lured by promises of high returns in cryptocurrency, forex, and stock trading. Tragically, overwhelmed by financial and emotional distress, he allegedly died by suicide, highlighting the devastating impact of such scams.

Fraudsters typically initiate contact via unsolicited messages on social media, Telegram, or WhatsApp, posing as investment advisors. They ask for a small initial investment, then display fake profits on manipulated platforms to build trust. Victims are repeatedly pressured to pay “processing fees” or taxes to withdraw funds. Threats and coercion are often used to force more payments.

Citizens are advised to verify all investment platforms and agents before committing funds, check official SEBI registration, avoid promises of guaranteed returns, never share banking details, and reject extra “fees.” Watch for manipulated wallets or delayed withdrawals, and remain calm if threatened. Suspicious activity should be reported immediately at the National Cybercrime Helpline (1930) or online at cybercrime.gov.in.

Online scams can lead to devastating financial and emotional consequences. Awareness and caution remain the best defense.