HYDERABAD: A 52-year-old retired software employee from Nizampet lost Rs 2.93 crore after investing in a fake cryptocurrency trading and mining platform.
According to police, the victim came across a crypto investment message on Facebook in June 2025. Soon after clicking on it, he was contacted by a woman, who shared her WhatsApp number and began guiding him on investments through a trading application. Initially, he invested Rs 50,000. Over the following months, the victim continued investing based on her instructions. However, when he tried to withdraw the money, the platform displayed “pending dues” and demanded additional payments.
Believing the claims, he exhausted his savings, pledged gold ornaments and borrowed money from friends. Later, the woman stopped responding to his queries. He eventually realised the app was fraudulent and approached the police after losing Rs 2.93 crore. Cyberabad cybercrime police registered a case and launched a probe.