Hyderabad Cybercrime police have arrested six people in connection with a large-scale online investment fraud that cheated a 34-year-old woman from Tarnaka of more than ₹1.05 crore. The arrested accused have been identified as A Harsha Vardhan, K Venu, M Pradeep, P Vinodh Yadav, P Vamshi, and M Laxman.
The case came to light after the victim filed a complaint stating that she was targeted between January and July 2025 by fraudsters who approached her through Instagram and Telegram. The culprits posed as representatives of the National Stock Exchange and Coin SSDCX, luring her with fake online tasks and investment opportunities. To gain her trust, small amounts were initially credited to her account. Later, she was persuaded to transfer larger sums under the pretext of meeting investment goals and tax payments.
In total, the woman transferred ₹1,05,03,752 into several bank accounts controlled by the group. While the fraudulent trading application displayed a fake balance of ₹6.05 crore, she never received any returns. Officials explained that the scammers used social media platforms like Instagram, Telegram, and WhatsApp calls to impersonate legitimate organisations, using professional language to deceive their victims.
The fraudsters also built fake investment dashboards and trading apps to show fabricated profits. Once the money was transferred, they cut off communication and blocked the victims. Investigations revealed that the arrested suspects had opened and managed more than 50 bank accounts, which were used to launder the stolen funds. The money was withdrawn in cash and converted into cryptocurrency before being transferred abroad to Chen Chen from China, believed to be the main organiser, who remains at large.
The accused earned commissions for every transaction and withdrawal. Police recovered debit cards, bank passbooks, cheque books, mobile phones, fingerprint machines, and scanners during the arrests.
Authorities have issued a strong advisory urging citizens to remain cautious of online investment offers and to verify the authenticity of platforms before making financial commitments.
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