Priyanka
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A woman from Hyderabad got duped of her ₹77 lakh life savings in a highly planned financial scam based on fake job offers, high returns, and cryptocurrencies. The case illustrates how different forms of online fraud are on the rise as the scammers combine seemingly legitimate investment propositions with deception.
How the Scam Worked
Each of the considered steps was analysed, and it can be stated that the scam was professionally conducted with the usage of attractive offers and, at the same time, psyching the victim into making the necessary decisions.
Step-by-Step Breakdown of the Fraud:
1. The Fake Job Offer:
The woman got a message on [particular application that can be linked with, for instance, LinkedIn, WhatsApp or Telegram etc.] informing her about a high paying part time employment opportunity.
The job tasks looked innocent, like liking posts, sharing content or even testing various products.
2. Initial Payments:
Laymen were encouraged to contribute small sums, with promised speedy profits credited to the account.
3. Transition to Crypto Investments:
The scammers introduced her to the fake investment scheme about cryptocurrencies investing, stating that more investment would attract guaranteed high returns.
Fascinated by the money that she made earlier, she decided to invest more and more money from her business.
4. The Fraud:
The scammers became offline, or mudik , and denied her access to the fake crypto page and platform through which she failed to regain her money.
How She Lost ₹77 Lakh
Gradually, the woman transacted several times, and this time for the amount of ₹77 lakh, her life savings, having invested her faith in such conmen’s words.
Key Factors That Enabled the Scam:
False Sense of Security: Obscured by an initial profit, the authenticity of the scheme was established.
Psychological Manipulation: The scammers had to apply forceful pressure of limited offers in an effort to get her to invest otherwise they would expire.
Unverified Platforms: The victim must have gone to an unknown legit crypto platform without doing sufficient research.
Police Action and Investigation
The woman who was deceived realizing her misfortune reported the case to the Hyderabad Cybercrime Police, who have followed the matter.
Steps Taken by Authorities:
Following the details of account handles associated with the scams.
In cooperation with banks and payment services to block accounts and return the funds, if possible.
In this case, it is possible to launch public campaigns with the aim to draw attention of people to this or that scam.
Why Are Crypto Scams on the Rise?
Cryptocurrency scams are becoming increasingly common due to several factors:
1. Lack of Awareness:
Most of them never had a clue how the whole cryptocurrency business operates and this makes them vulnerable.
2. Fake Platforms:
Scammers taking advantage of bitcoin introduce fake trading sites that resemble genuine ones.
3. High Profit Promises:
Many people are lured by the prospect of getting rich quickly or receiving large profit in a relatively short time.
4. Limited Regulation:
Compared to normal currency, payments in cryptocurrencies are more difficult to monitor by authorities and hence prevent fradulent activities.
How to Protect Yourself from Scams
Here are some essential tips to avoid falling prey to such fraudulent schemes:
1. Verify Job Offers:
One should always verify the job offers sent over the official company websites or the most authenticated professional network like LinkedIn.
2. Avoid Unrealistic Promises:
Avoid the any program that assures you of high yields within a short span of time without much effort.
3. Use Trusted Platforms:
Never invest in cryptocurrencies through new and unproven exchanges.
4. Research Thoroughly:
Avoid putting money into any platform or investment opportunity without researching the reviews, ratings and validation first.
5. Report Suspicious Activity:
In case of fraud, please contact the police or the cybercrime hotline as soon as possible.
