Hanumakonda, Oct.22 : Police Commissioner N. Swetha, issued an urgent public advisory urging citizens to remain extremely vigilant against rising online investment scams, specifically highlighting fraudulent activities orchestrated through the Quantum Vest Stock Exchange (QVSE) mobile application. Highlighting warnings issued by central and state cybercrime wings, the Commissioner noted that cybercriminals have been luring unsuspecting citizens into lucrative investment traps promising high daily returns.
Detailing the modus operandi, Commissioner Swetha explained that fraudsters manipulate victims into downloading unofficial QVSE APK files and converting Indian Rupees into cryptocurrency via Binance exchanges. Perpetrators entice targets by claiming that a minimum investment of 500 USDT (approximately ₹54,000) yields guaranteed daily returns of one percent, alongside aggressive multi-level referral bonuses offering 50 USDT for first-tier invites and 25 USDT for second-tier recruits. Authorities revealed that 56 cybercrime cases related to this specific fraudulent network have already been registered across Telangana.
To combat financial fraud, the Warangal Police Commissioner advised the public never to trust unverified online investment schemes promising abnormal profits, avoid downloading unknown APK files, and refrain from transferring funds through cryptocurrency to untrusted trading platforms. Citizens were reminded to protect confidential banking credentials and OTPs. Victims of cyber fraud are urged to report incidents immediately by calling the national cybercrime helpline at 1930 or visiting www.cybercrime.gov.in within the crucial ‘golden hour’ to maximize chances of financial recovery.
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