Telegram Crypto Scam Cons a Hyderabad Woman of ₹1.6 Crore

A 54-year-old woman from Hyderabad lost over ₹1.6 crore in a crypto scam disguised as a part-time job offer on Telegram. What began as a simple task-based opportunity quickly turned into a highly organised trap that drained her life savings, highlighting the alarming rise of online frauds in Tier 2 cities.

The victim joined a Telegram group promising earnings through basic tasks like liking YouTube videos and writing reviews. Initially, she received small payments that built trust. Then came the real bait: investment in cryptocurrencies for high returns. Lured by the promise of big profits, she transferred over ₹1.6 crore to various accounts across different banks.

Each time she attempted to withdraw her returns, the scammers demanded “unfreeze charges” and “platform fees.” Despite making multiple payments, she received only a fraction of her money back. Realising she’d been duped, she finally approached the police and filed a cybercrime complaint.

This case isn’t unique. Similar scams are spreading fast in Tier 2 and Tier 3 cities where digital literacy is still catching up with fast-growing internet access. Victims often don’t realise how vulnerable they are on platforms like Telegram, WhatsApp, or even Instagram. Fraudsters use psychological tactics—quick payouts, fake screenshots of earnings, and FOMO (fear of missing out)—to manipulate users into believing they’re part of something lucrative.

The absence of proper regulatory protection for small investors in virtual digital assets (VDAs) also adds to the problem. Unlike stock markets, crypto is still unregulated in India. Many users do not understand terms like wallet addresses, gas fees, or cross-border settlements—making them easy targets.

Authorities have urged citizens to avoid any unsolicited investment opportunities on messaging apps. Users are advised to cross-verify any financial scheme, avoid sharing personal details, and stay cautious of job offers that demand money upfront or offer unusually high returns.

The takeaway is simple: if it sounds too good to be true, it probably is. The digital boom in cities like Hyderabad, Nagpur, Indore, and Lucknow is real—but so is the risk. Awareness, digital education, and healthy skepticism are the only ways to stay one step ahead of the scammers.