Hyderabad: A 47-year-old resident of Secunderabad lost ₹24,44,152 in an investment scam linked to a fake trading app named KDEOne Gold, after being lured through WhatsApp by a woman impersonating an investor named “Sharanya.”
The fraud began on December 13, 2024, when the victim received unsolicited messages on WhatsApp. Over time, the sender built a rapport and convinced the victim to download the KDEOne Gold app from the Play Store, claiming it could deliver returns of up to 70%.
To gain trust, the fraudsters initially permitted small withdrawals. Encouraged by this, the victim invested higher amounts. Although the app showed a profit of ₹39 lakh, the withdrawal feature was later disabled. When the victim attempted to retrieve the money, the scammers demanded additional payments under the pretext of “taxation” and “conversion charges.”
Eventually, the victim realised the scheme was fraudulent and reported the loss to cyber crime authorities. A total of ₹24.44 lakh was siphoned off through this method.
Public Advisory
Authorities issued the following guidance to prevent similar cyber fraud:
- Do not trust investment offers received through WhatsApp or social media.
- Avoid downloading or using apps recommended by unknown individuals.
- Fraudsters often enable initial withdrawals to create a false sense of legitimacy.
- Never transfer money to personal bank accounts for trading, IPOs, or taxes.
- Verify investment platforms with SEBI-registered advisors or banks.
- Stop payments immediately if suspicious demands or blocked withdrawals occur.
- Report cyber frauds to the national helpline 1930 or visit www.cybercrime.gov.in.
- For emergencies in Hyderabad, call or WhatsApp 8712665171.
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