Hyderabad: A retired government employee from Malkajgiri was duped of Rs 12.36 lakh in an online trading fraud in Hyderabad.

In September 2025, the victim came across an advertisement regarding online trading on Facebook. A company by the name NAKA Solutions offered trading tips to make profits. After submitting his personal details, the victim received a phone call from an individual, who introduced himself as company representative based in the United Kingdom and persuaded him to begin investing through a mobile application.

Convinced by the fraudster, the retired government employee began investing small amounts of money and received some profits. Subsequently, a woman claiming to be his financial advisor contacted him and encouraged further investments, particularly in gold trading.

She assured him of high returns. Trusting their assurances, the complainant invested larger amount of money. According to the police, the online fraudster displayed fake profits amounting to nearly US Dollars 57,000 on the trading platform.

When the victim tried to to withdraw the money, he was asked to pay additional sums towards currency conversion charges, taxes, and other processing fees.

Later two other fraudsters contacted the victim from different international numbers asking him to make further payments through cryptocurrency platforms such as Binance and Atomic accounts. Acting on their instructions, the complainant transferred an additional Rs 5.5 lakh.

Despite repeated follow-ups, no money was credited to his bank account, and all the accused stopped responding to his calls and messages. Realizing that he was cheated, the complainant approached the Rachakonda cybercrime police.

Based on the complaint, a case was registered at the cybercrime police and a probe is underway.