Victims were duped via fake trading apps, cloned bank sites, and social media.
Fraudsters mimicked firms like “NFM Capital Markets” and Axis Bank.
Cybercrime unit warns users to avoid unknown APKs and verify via official channels.
Online investment scams have been on the rise. Recently, two Hyderabad residents lost over Rs 49 lakh after falling prey to convincing digital investment frauds. Cybercrime officials are probing into both cases, which involved fake trading apps, cloned banking websites, and social media manipulation. In the first case, a 57-year-old professional was targeted via Facebook and WhatsApp by scammers posing as agents of an international trading firm, “NFM Capital Markets.”
SurveyThey lured him with promises of high returns on “US Gold Stocks” through what appeared to be a genuine investment dashboard. The man transferred over Rs 6.3 lakh through Google Pay and SBI YONO, only to realise later that the profits displayed were fake. The fraudsters even demanded extra money for “taxes” and “withdrawal fees,” triggering suspicion.
In another incident, a Hyderabad resident lost Rs 43 lakh after scammers impersonating Axis Bank officials offered “exclusive IPO allotments.” They built fake dashboards mimicking real trading accounts and convinced the victim to keep investing, claiming the portfolio was growing.
A third victim, a 37-year-old businesswoman, lost Rs 17 lakh after downloading malicious APK files shared over WhatsApp, apps named RTOCHALLAN.apk and UNI0NBANK4.apk. These rogue apps secretly accessed her OTPs and enabled unauthorised money transfers and loan approvals.
Also read: Apple iPhone 15 price drops by over Rs 11,900 on Amazon: Here’s how this deal works
Cybersecurity experts say these scams are becoming increasingly sophisticated. Fraudsters mimic legitimate banking and trading interfaces to trap users.
The Hyderabad Cybercrime unit has urged users to stay alert, avoid installing unknown APKs, and verify investment offers only through official banking channels or those registered with SEBI.
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Himani Jha
Himani Jha is a tech news writer at Digit. Passionate about smartphones and consumer technology, she has contributed to leading publications such as Times Network, Gadgets 360, and Hindustan Times Tech for the past five years. When not immersed in gadgets, she enjoys exploring the vibrant culinary scene, discovering new cafes and restaurants, and indulging in her love for fine literature and timeless music. View Full Profile
