A 47-year-old resident of Secunderabad has been defrauded of over ₹24 lakh after almost a year of investing in a fake online trading scheme operated through a mobile application called ‘KDEOne Gold’.The scam began on December 13, 2024, when the victim received a WhatsApp message from an unknown number. The sender, introducing herself as ‘Sharanya’, slowly gained his trust and convinced him to invest in gold trading through the app, promising returns as high as 70%.The accused created a login for the victim and initially enabled small withdrawals to make the platform appear genuine. Encouraged by the apparent profits, the victim invested larger sums. The app displayed a profit balance of ₹39 lakh but when he attempted to withdraw the amount, the option was disabled.The fraudsters then demanded additional payments, citing ‘taxation’ and ‘conversion charges’ required to release the funds. Only after these repeated demands did the victim realise he had been duped. In total, he transferred more than ₹24,44,152 before recognising the fraud and seeking help from the authorities.A case was booked by the cyber crimes wing of the Hyderabad police. The police reiterated warnings against trusting unsolicited WhatsApp or social media contacts who promise high returns through trading platforms. They emphasised that fraudsters often allow small withdrawals at the beginning to appear legitimate before blocking access to funds after larger investments.Victims of cyber fraud are urged to report incidents immediately by dialling 1930 or visiting www.cybercrime.gov.in. For emergencies, the Cybercrime Police Station, Hyderabad, can be contacted via call or WhatsApp on 8712665171.Published - December 09, 2025 07:24 pm IST