Hyderabad Retiree Loses ₹29.5 Lakh to Fraud via Fake Trading App
HYDERABAD: A 63-year-old retired employee from Nallakunta lost ₹29.5 lakh after fraudsters posing as representatives of an investment company convinced him to install a fake trading app and invest in alleged share trading, over-the-counter deals and initial public offerings.
Police said the fraud began in early November 2025, when a woman identifying herself as Divya Mehra contacted the victim and added him to a WhatsApp group named “163 Gate Way to the Future”. She claimed to represent “India Nivesh Shares & Securities Ltd” and urged him to share his bank and Permanent Account Number details.
Fake profits shown to push larger investments
According to the complaint, Mehra instructed the victim to install a fraudulent trading application named NivPro. Believing the claim that the app was linked to a registered investment platform, he transferred large sums from his State Bank of India account and his wife’s account for “trading”.
The fraudsters allegedly displayed fake high returns on the app to pressure him into making bigger deposits. Police said he was also coerced into purchasing an IPO of Excelsoft Technologies, which the scammers insisted would generate major profits.
When he declined further payments, access to his NivPro account was blocked. Although the app showed a balance of ₹64 lakh, he was unable to withdraw any amount. The scammers then demanded a ₹5 lakh “penalty” to unfreeze the account.
Police: withdrawal blocks, penalty demands clear red flags
Cybercrime officials said such withdrawal blocks and penalty demands are common indicators of fraudulent trading applications. The victim lodged a police complaint after realising he had no access to the displayed funds and had already lost ₹29.5 lakh.
The Cyber Crimes unit issued a detailed advisory urging citizens to avoid unverified trading groups and platforms.
Public advisory on fraudulent trading schemes
The advisory emphasised the following points:
Avoid joining unsolicited WhatsApp or Telegram trading groups promising high returns.
Verify any investment platform, company or advisor on the Securities and Exchange Board of India (SEBI) website.
Do not share bank details, PAN or personal documents with unknown persons.
Do not install trading apps sent by individuals claiming to be advisors.
Stop communication immediately if suspicious activity appears.
Report cyber frauds on the 1930 helpline or at www.cybercrime.gov.in.
For emergencies, citizens may call or WhatsApp 8712665171.
Updates are available on official Cybercrime PS Hyderabad handles on Facebook, Instagram, X and YouTube.
The Deputy Commissioner of Police, Cyber Crimes, Hyderabad, reiterated that financial scams involving fake trading apps continue to rise and urged the public to exercise caution.
