Instagram ad to fake app: Man loses ₹12.5L in online scam
A 25-year-old from Begum Bazaar, Hyderabad, lost ₹12,56,900 in an online stock trading scam this September.
After clicking an Instagram ad using the Motilal Oswal logo, he joined a WhatsApp group where scammers posed as financial advisors and convinced him to invest through a fake app called Modma.
How the scam worked
At first, the Modma app showed his money growing—just enough to build trust. But soon his balance froze at ₹46.9 lakh and scammers demanded another ₹7.6L to "unlock" it, threatening to take away everything if he didn't pay up. He stopped sending money but had already lost over ₹12.5L.
Hyderabad Cyber Crimes Police have registered a case and are investigating; they say these scams are on the rise through social media ads and fake apps.
Authorities urge everyone to double-check investment platforms on official websites or with regulators before putting in any money—just a little caution can save you from big losses.