Published on: Oct 23, 2025 11:43 am IST
A Hyderabad IT professional lost Rs. 1.5 crore after joining a WhatsApp trading group. Here’s how this happened and how to stay safe.
A Hyderabad-based IT professional fell victim to a WhatsApp-based trading scam, which cost him around Rs. 1.5 crore loss. What initially seemed like a legitimate investment opportunity soon turned out to be a coordinated online fraud involving fake returns, fabricated IPO allotments, and intimidation tactics. The scammers set up convincing WhatsApp trading groups, shared falsified payment proofs, and claimed affiliations with brokerage firms to gain the victim’s trust.
How the Scam Unfolded
The fraud began when the victim was contacted by someone calling himself “Uttekar,” who claimed to be a trading advisor affiliated with a reputable brokerage firm. He was added to a WhatsApp group named “Wealth103Tradebulls Securities,” where members regularly posted large trading profits. Encouraged by the group’s discussions and apparent successes, the IT professional initially made small investments. Gradually, he was made to invest larger sums with promises of IPO allotments and high returns.
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The scammers provided fake payment confirmations and profit statements to make their operation appear authentic. When the victim raised concerns over inconsistencies, the fraudsters resorted to intimidation and threatened him with potential tax issues, job loss, and demands for “commission repayments.” Over time, under these pressures, the victim transferred nearly Rs. 1.5 crore across multiple accounts, citing trading, IPO processing, and loan repayments as reasons.
After realising the fraud, the IT professional filed a complaint with Hyderabad’s Cyber Crime Police. Authorities have begun tracking the digital money trail and are working to identify those responsible for the sophisticated scam.
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How to Protect Yourself from WhatsApp and Telegram Investment Scams
- Verify any trading advisor or brokerage through official SEBI channels.
- Avoid unsolicited investment offers and promises of guaranteed profits or IPO allotments.
- Do not transfer money to unknown accounts for trading purposes.
- Protect your financial information, passwords, and OTPs; enable two-factor authentication.
- Avoid installing APKs from unverified sources outside official app stores.
- Report suspicious activity immediately at cybercrime.gov.in.
