HYDERABAD: In yet another alarming case of online fraud, a B.Tech student from Uppalapally village in Kamalapur mandal, Hanamkonda district, has reportedly lost ₹7.83 lakh to a crypto investment scam operated by cyber criminals.
According to sources, the student received a WhatsApp message on 16 April, offering payment in exchange for giving ratings to local hotels. Believing the offer to be genuine, he completed the tasks as instructed. Soon after, he was added to a Telegram group where he was given a series of similar tasks, which he completed successfully.
Once the scammers gained his trust, they convinced him to invest in cryptocurrency, promising high returns. The student initially invested ₹1,000 and was shown fake profits to lure him in further. Encouraged by what appeared to be easy money, he gradually invested a total of ₹7,83,500.
However, once the full amount had been transferred, the cyber fraudsters stopped responding and failed to return any of the so-called profits. Realising he had been duped, the student approached the cybercrime police for help.
Authorities have registered a case and initiated an investigation into the fraud. Despite ongoing awareness campaigns by the central and state governments, incidents like these highlight the growing threat posed by cyber criminals who exploit people’s lack of digital literacy and desire for quick financial gains.