2 Hyderabad doctors duped of over Rs 2 crore in Instagram investment scam

Hyderabad: In a shocking case of cyber fraud, two doctors from Hyderabad were allegedly cheated in separate online investment scams by fraudsters who lured them with promises of high returns through fake trading platforms, police said.

According to officials, one of the victims, a doctor from AC Guards in Nampally, was first targeted after he came across an advertisement on Instagram promoting online investment opportunities with assured profits. After clicking on the link, he was reportedly contacted by a woman through WhatsApp.

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Believing the claims, the doctor allegedly invested more than Rs 1.76 crore through a fake trading platform set up by the fraudsters.

The platform later displayed profits of nearly Rs 14 crore in his account. “However, when he attempted to withdraw the amount, the fraudsters allegedly demanded additional payments and blocked the withdrawal process,” Cybercrime officials said, reports Telangana Today.

Realising that he had been duped, the doctor approached the Hyderabad Cybercrime Police and lodged a complaint.

In another similar incident, a doctor from Asifnagar was allegedly cheated of Rs 28.54 lakh by the same woman. In this case as well, the fraudulent platform reportedly displayed fictitious profits amounting to Rs 73.92 lakh. However, the victim was also denied access to withdraw his money and was pressured to deposit additional funds.

The Hyderabad Cybercrime Police have registered separate cases and initiated an investigation into both incidents.

Speaking to 420, officials said that the fraudsters are using highly structured psychological manipulation techniques, including showing fake profits, creating urgency for further investments, and blocking withdrawals under technical excuses. Such tactics are increasingly being used in online investment scams across the country.

Medical Dialogues had previously reported that amid a surge in cyber fraud cases across the country, a prominent doctor from Guntur reportedly lost nearly Rs 13 crore in a massive cryptocurrency investment scam operated through fake online trading platforms.

Also Read:Guntur doctor falls victim to Rs 13 crore cryptocurrency fraud