Hyderabad man loses ₹72L to fake stock WhatsApp group

Business Jan 01, 2026

A 59-year-old from Secunderabad lost ₹72 lakh after joining a WhatsApp group pretending to be a top stock brokerage.
The scammers sent out fake market tips and IPO strategies, slowly building trust before suddenly blocking him and vanishing with his money.

How the scam worked

The fraudsters showed him fake profits, got his KYC details, and set up a bogus trading account.
They kept pushing him to invest more with promises of IPO gains, but blocked every withdrawal by demanding hefty "commissions."
Cybercrime officials are now investigating, and this case is a reminder to stay cautious when dealing with unknown groups online.