Begumpet resident loses over ₹3.5 lakh in Telegram task scam
The scam unfolded when the victim received a message on Telegram app and a follow-up WhatsApp call from individuals claiming to represent 'Goibibo India Promotions'. They introduced a scheme that allegedly paid users for rating hotels through links shared via Telegram. After completing a few tasks, the victim received small commissions, ₹970 initially, followed by ₹17,109 seemingly credited as a reward for participation. The timely payments created an illusion of legitimacy and encouraged further engagement.
On June 22, the victim was added to a Telegram group, populated with other 'participants' who shared screenshots of large payouts. Convinced by this along with the assurance of quick profits, the victim invested ₹1 lakh into the scheme.
The fraudsters then directed the victim to a manipulated website that showed a negative balance in the account wallet, pressuring him to 'recharge' funds in order to continue earning and recover the supposed losses. Under this pretext, the victim transferred ₹88,027 and ₹1 lakh on the same day, followed by another ₹1,69,882 on June 23.
As the fake website showed an increasingly alarming deficit, reaching ₹5 lakh, the scammers attempted to extort more money by dangling the prospect of a ₹14–15 lakh return. It was only at this point that the victim realised the operation was fraudulent and reported the matter by dialling the national cybercrime helpline, 1930.
A case has been booked by the Cybercrime Wing of the Hyderabad Police and an investigation is underway.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
14 minutes ago
- News18
Kim Kardashian Faces Legal Heat For Posting Wrong Man's Pic In Anti-Death Penalty Campaign
Last Updated: Kim Kardashian is sued by Ivan Cantu, a New York project manager, for using his photo in a 2024 Instagram post supporting a death row inmate with the same name. Kim Kardashian has found herself entangled in a fresh legal controversy, this time over a case of mistaken identity on social media. A man named Ivan Cantu, a New York-based project manager, has filed a lawsuit against the reality star, claiming she wrongly used his photo in a 2024 post supporting a death row inmate who shared the same name. According to US Weekly, the plaintiff alleges that the error has left him with post-traumatic stress disorder and sleepless nights. His image, he claims, was used in a high-profile Instagram story meant to advocate for another Ivan Cantu, an inmate convicted of murder in 2001. Kim had publicly supported the inmate's clemency efforts prior to his execution. Kim's legal team addressed the situation in detail, clarifying: '[Kim] played an important role in advocating for Mr. Cantu. Over the course of approximately ten days in February 2024, [Kim] and her team posted a series of 'stories' regarding Mr. Cantu — approximately 16 in all — on [Kim's] Instagram account. Of these 16 stories, one story posted two days before Mr. Cantu's execution mistakenly used an image of the plaintiff in this action, a New York-based project manager whose name is also Ivan Cantu. The mistake was discovered within hours of the posting, and the story was immediately deleted, with [Kim] swiftly issuing a public apology to [Ivan]." In her own declaration, Kim acknowledged the error, stating: 'The use of Plaintiff's image in the February 26 Story was a mistake and was not done intentionally. I would not have used the image appearing in the February 26 Story had I known that it was a picture of Plaintiff and not Mr. Cantu." Her attorneys have dismissed the lawsuit as opportunistic, saying, 'This lawsuit is an attempt to cash in on a mistake." The legal proceedings are still underway. First Published: July 06, 2025, 10:34 IST
Economic Times
31 minutes ago
- Economic Times
Jane Street aftermath: 4 stocks suffer Rs 12,000 crore wipeout in collateral damage
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Markets Tired of too many ads? Remove Ads Markets regulator Sebi's investigation into Jane Street may have unintended consequences for Dalal Street, as was evident on Friday when four capital market-related stocks collectively lost Rs 12,000 crore in market regulatory action has exposed the market's dependence on proprietary trading firms and their domestic partners. What began as targeted enforcement against alleged market manipulation by the US-based trading giant quickly spilled over, impacting the broader capital markets infrastructure, even affecting firms with no regulatory issues. Nuvama Wealth Management , Jane Street's local trading partner in India, suffered the steepest decline on Friday, falling 11.26%, despite not being implicated in any wrongdoing in Sebi's investigation. Shares of stock exchange BSE and Angel One dropped around 6% each, while CDSL fell over 2%. The combined erosion in market capitalisation was nearly Rs 12,000 regulatory action targeted Jane Street and its affiliates for manipulating prices in Bank Nifty index options and underlying stocks, resulting in an order to disgorge unlawful gains of Rs 4,844 the market's reaction to Nuvama highlights how regulatory action against one entity can impact its business partners—even when they face no direct allegations. The sharp fall in Nuvama's stock reflects investor concerns about potential revenue loss from the possible exit of a significant client, regardless of the firm's conduct."Prop trading firms like Jane Street account for nearly 50% of options trading volumes," noted Zerodha founder Nithin Kamath, highlighting the market's concentration risk. "If they pull back—which seems likely—retail activity (around 35%) could take a hit too. So this could be bad news for both exchanges and brokers."Also Read | Explained: What is Jane Street and how it made Rs 36,500 crore profit by gaming Dalal Street The scale of the market's dependence on proprietary trading firms becomes evident through the numbers. When a single entity controls half of the options volume, its potential exit creates significant uncertainty about future market liquidity and trading activity."Jane Street is one of the largest traders contributing to Indian markets," said Siddarth Bhamre, Head of Institutional Research at Asit C. Mehta . "When big players are banned for wrongdoing, others become cautious and reduce activity, leading to lower volumes. Traders may also face fewer counterparties, potentially causing a further drop in F&O volumes ahead."The concerns extend beyond immediate volume impacts. Ashish Nanda, President & Chief Digital Business Officer at Kotak Securities, outlined the broader implications: "HFTs will surely be feeling the heat. Many will be re-assessing their strategies. Will they slow down? The fact is that HFT firms provide a lot of liquidity in the markets. If there's a reduction in activity by HFTs, it will also impact retail volumes."The immediate market reaction suggests traders are already pricing in a potential decline in volumes across Indian capital markets. Analysts warn that the regulatory action could put pressure on the revenue of intermediaries heavily dependent on derivatives trading, with volumes likely to shrink in response to Sebi's measures against one of the segment's largest prop trading One founder Dinesh Thakkar offered a more optimistic view, arguing that India's market opportunity remains "structural, not cyclical—and certainly not dependent on any one firm." He pointed to the surge in retail participation in equity derivatives—from just 2% in 2018 to over 40% in 2025—as evidence of strong underlying market fundamentals."When one player exits, others step in—and often, very fast," Thakkar noted, referencing global trading giants like Citadel Securities, IMC Trading, Optiver, Jump Trading, and Millennium, which are already expanding into India, setting up local entities, hiring talent, and investing in this optimism, the immediate challenge is gauging the actual impact on trading volumes. Zerodha's Nithin Kamath acknowledged the uncertainty: "The next few days will be telling. F&O volumes might reveal just how reliant we are on these prop giants."The Jane Street episode underscores how regulatory action—while targeting specific misconduct—can have broader ripple effects across the derivatives ecosystem. The Rs 12,000 crore selloff on Friday reflects investor concerns over volume contraction and revenue pressure, particularly for intermediaries with direct exposure to the banned the market adjusts to this new reality, attention will turn to whether other international trading firms can fill the liquidity vacuum left by Jane Street's exit—and how domestic players recalibrate their models to sustain revenue in a changing regulatory Read | Make $1 billion loss in stock futures to earn $5 billion profit in options: Sebi exposes Jane Street's Baazigar strategy
Time of India
33 minutes ago
- Time of India
Jane Street aftermath: 4 stocks suffer Rs 12,000 crore wipeout in collateral damage
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Markets Tired of too many ads? Remove Ads Markets regulator Sebi's investigation into Jane Street may have unintended consequences for Dalal Street, as was evident on Friday when four capital market-related stocks collectively lost Rs 12,000 crore in market regulatory action has exposed the market's dependence on proprietary trading firms and their domestic partners. What began as targeted enforcement against alleged market manipulation by the US-based trading giant quickly spilled over, impacting the broader capital markets infrastructure, even affecting firms with no regulatory issues. Nuvama Wealth Management , Jane Street's local trading partner in India, suffered the steepest decline on Friday, falling 11.26%, despite not being implicated in any wrongdoing in Sebi's investigation. Shares of stock exchange BSE and Angel One dropped around 6% each, while CDSL fell over 2%. The combined erosion in market capitalisation was nearly Rs 12,000 regulatory action targeted Jane Street and its affiliates for manipulating prices in Bank Nifty index options and underlying stocks, resulting in an order to disgorge unlawful gains of Rs 4,844 the market's reaction to Nuvama highlights how regulatory action against one entity can impact its business partners—even when they face no direct allegations. The sharp fall in Nuvama's stock reflects investor concerns about potential revenue loss from the possible exit of a significant client, regardless of the firm's conduct."Prop trading firms like Jane Street account for nearly 50% of options trading volumes," noted Zerodha founder Nithin Kamath, highlighting the market's concentration risk. "If they pull back—which seems likely—retail activity (around 35%) could take a hit too. So this could be bad news for both exchanges and brokers."Also Read | Explained: What is Jane Street and how it made Rs 36,500 crore profit by gaming Dalal Street The scale of the market's dependence on proprietary trading firms becomes evident through the numbers. When a single entity controls half of the options volume, its potential exit creates significant uncertainty about future market liquidity and trading activity."Jane Street is one of the largest traders contributing to Indian markets," said Siddarth Bhamre, Head of Institutional Research at Asit C. Mehta . "When big players are banned for wrongdoing, others become cautious and reduce activity, leading to lower volumes. Traders may also face fewer counterparties, potentially causing a further drop in F&O volumes ahead."The concerns extend beyond immediate volume impacts. Ashish Nanda, President & Chief Digital Business Officer at Kotak Securities, outlined the broader implications: "HFTs will surely be feeling the heat. Many will be re-assessing their strategies. Will they slow down? The fact is that HFT firms provide a lot of liquidity in the markets. If there's a reduction in activity by HFTs, it will also impact retail volumes."The immediate market reaction suggests traders are already pricing in a potential decline in volumes across Indian capital markets. Analysts warn that the regulatory action could put pressure on the revenue of intermediaries heavily dependent on derivatives trading, with volumes likely to shrink in response to Sebi's measures against one of the segment's largest prop trading One founder Dinesh Thakkar offered a more optimistic view, arguing that India's market opportunity remains "structural, not cyclical—and certainly not dependent on any one firm." He pointed to the surge in retail participation in equity derivatives—from just 2% in 2018 to over 40% in 2025—as evidence of strong underlying market fundamentals."When one player exits, others step in—and often, very fast," Thakkar noted, referencing global trading giants like Citadel Securities, IMC Trading, Optiver, Jump Trading, and Millennium, which are already expanding into India, setting up local entities, hiring talent, and investing in this optimism, the immediate challenge is gauging the actual impact on trading volumes. Zerodha's Nithin Kamath acknowledged the uncertainty: "The next few days will be telling. F&O volumes might reveal just how reliant we are on these prop giants."The Jane Street episode underscores how regulatory action—while targeting specific misconduct—can have broader ripple effects across the derivatives ecosystem. The Rs 12,000 crore selloff on Friday reflects investor concerns over volume contraction and revenue pressure, particularly for intermediaries with direct exposure to the banned the market adjusts to this new reality, attention will turn to whether other international trading firms can fill the liquidity vacuum left by Jane Street's exit—and how domestic players recalibrate their models to sustain revenue in a changing regulatory Read | Make $1 billion loss in stock futures to earn $5 billion profit in options: Sebi exposes Jane Street's Baazigar strategy
