A recent trading scam has left a retired engineer from Miyapur devastated, as he lost a staggering 128 crore rupees (approximately $133,000) to fraudsters. This incident highlights the growing concern over online trading scams that target unsuspecting investors, and the document underscores a growing issue that demands immediate attention.
Victim Lured into Scam
The 65-year-old victim was lured into the scam through a fraudulent trading application and a WhatsApp group, where the scammers operated for over a month. They promised high returns and guaranteed profits, which ultimately led to the engineer's significant financial loss.
Authorities Issue Warnings
In light of this incident, local authorities have issued urgent warnings to the public, advising investors to thoroughly verify trading platforms before engaging in any transactions. They emphasized the importance of skepticism towards schemes that seem too good to be true as the risk of falling prey to such scams continues to rise.
In a notable development, Indian refiners have increased their purchases of discounted Russian crude oil, reflecting a shift in the global oil market. This trend contrasts sharply with the recent online trading scam that has left a local engineer devastated. For more details, see read more.
