Overview

• A 60-year-old Jubilee Hills resident responded to an Instagram ad for “FX Road” and was guided to register and digitally sign documents before wiring funds via credit card and bank transfers.
• The platform falsely reported profits on commodities, stocks like Tesla and cryptocurrencies to build trust and prompt larger investments.
• Scammers engineered margin calls that led the victim to borrow ₹7–8 lakh from Navi and pledge ₹17.5 lakh from a bank savings policy, resulting in a total loss of ₹57.43 lakh.
• Hyderabad Cyber Crime Wing investigators uncovered impersonation of Trade Bulls executives and widespread use of forged paperwork as part of a sophisticated social media fraud network.
• Authorities urge investors to verify SEBI registration, preserve all communications and report suspicious trading platforms to the national cyber crime helpline at 1930.