Hyderabad Man Duped of Rs. 1.80 Lakh in Fake Coin Scam

NEWS CHARIOT : Cybercrimes in India have been on the rise, with fraudsters constantly coming up with new schemes to deceive the public. Recently, a new scam involving old coins and notes has emerged, leaving a victim in Hyderabad devastated.

Narra Gangaram, a resident of Birkoor in Kamareddy district, was visiting his hometown during the Sankranti festival when he came across a seemingly legitimate advertisement on Instagram. The post promised a hefty sum of ₹99 lakhs in exchange for old coins and specific currency notes, which included 5, 10, 20, and 50 paise coins and special ₹100 and ₹200 notes.

Excited by the offer, Gangaram immediately contacted the number mentioned in the post. The fraudsters claimed that they would send ₹99 lakhs after he provided the requested items but insisted on a small payment for the process. Believing the offer, Gangaram made two payments totaling ₹1.80 lakh through a digital app.

However, the scam continued to unfold as the fraudsters demanded more money, saying that the ₹99 lakhs could only be released if an additional sum was paid for airport fees and security personnel. Shocked and realizing he had been scammed, Gangaram immediately lodged a complaint at the Birkoor Police Station.

This case highlights the increasing sophistication of cybercriminals targeting unsuspecting individuals. Authorities are advising the public to stay cautious of such fraudulent schemes, especially those promoted on social media platforms.