Hyderabad homemaker loses over Rs. 23 lakhs in fake trading app scam
Hyderabad: A 29-year-old homemaker in Hyderabad became the victim of a trading scam perpetrated through a WhatsApp group named “Capital Growth Guild 812F” and lost Rs. 23,40,000 (twenty-three lakh forty thousand).
According to the Cybercrime police, the victim joined the group using her husband’s phone number, hoping to learn about share market trading and generate income. Group members frequently posted messages and information about buying and selling stocks. The scammers even conducted live trading classes, and other members consistently posted about their profits, building trust with the couple.
The scammers then uploaded a form titled “Long Creek Capital” within the group, requesting details about the victim’s investments. They instructed her to fill it out and submit it for approval to join their exclusive trading app. Seeing numerous messages from others claiming huge profits after approval, the victim submitted the form. She was then directed to contact specialists for “block trading account registration.”
The victim received a link to a website to download a suspicious app called “TPG-Pm.” After downloading the app and sending a screenshot as instructed, the scammers guided her through the registration process. They then advised her to make investments, and her funds seemed to grow rapidly due to their regular advice.
The victim tried withdrawing money from the app but received an “insufficient balance” error. Despite contacting the scammers multiple times about her urgent need for the money, they initially did not respond. Eventually, they deposited a small amount into her account via RTGS from a suspicious entity named “HARI OM TEXTILES,” but with the condition that she had to redeposit the same amount to access her original funds. The victim fell for this trick and complied.
Unfortunately, the problems persisted. When she tried to withdraw again, the app displayed the same “insufficient funds” message. The scammers demanded another deposit before allowing her to access her balance of Rs. 23,40,000. Despite her attempts to reach them through calls and messages, they vanished, leaving only messages demanding more money.
Realizing she had been scammed, the victim filed a complaint with the Cybercrime police investigating the case.
Public Advisory:
Fraudsters often target victims on social media platforms like Telegram, WhatsApp, Instagram, and Facebook by promoting fake trading apps and websites. These schemes are not endorsed by SEBI (Securities and Exchange Board of India) and are entirely fraudulent. Abstain from trusting promises of high returns and fabricated profit screenshots. Scammers often credit small sums into victims’ accounts to gain their confidence.
If you suspect you are a victim of cyber financial fraud, report it immediately by calling the National Cyber Crime Helpline at 1930 or visiting cybercrime.gov.in. For emergencies, call or WhatsApp at 8712665171.
