The Hyderabad Cybercrime Police Station has reported two different cases of cyber fraud in which businessmen were duped out of millions of rupees. In one case, a Borabanda businessman received a message promising great earnings from a crypto currency investment.
He followed the directions of the phony corporate executive and transferred Rs. 47 lakhs to the designated bank accounts, only to discover later that he had been duped.
In another case, a Secunderabad resident lost Rs. 65 lakhs after being enticed into a part-time trading plan with the promise of high returns. The fraudsters promised him instruction to begin trading, but they ultimately cheated him out of his money.
The Cybercrime Police are aggressively investigating both incidents in order to catch the perpetrators of these scams.
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