Retired Indian engineer loses ₹1.28 crore in fake DBS-branded crypto app scheme linked to WhatsApp group

A 65-year-old retired engineer from Miyapur lost ₹1.28 crore (about $130,000) between November 4 and December 5 to a fake trading app posing as DBS and promoted via a WhatsApp investment group, according to Cyberabad cybercrime police. The fraudsters allegedly used cloned app interfaces, staged returns and social messaging channels to build trust before blocking withdrawals. Police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act. Authorities are urging investors to verify platforms, check regulatory approvals and report suspicious apps, links and chat groups.