A resident of Visalakshi Nagar in Visakhapatnam fell prey to an online scam, losing a staggering ₹64 lakh after joining a WhatsApp group named "Stock Exchange" at the behest of an unknown source, as disclosed by the city police on Monday.

The victim was initially enticed with promises of learning about stocks and high returns with minimal investments, gradually luring him into their trap.

Trusting the online classes and assurances provided, the victim proceeded to deposit approximately ₹64 lakh across various digital platforms and bank accounts, hopeful of reaping substantial profits from stock trading.

Upon realizing that he had been deceived, he promptly filed a complaint with the city police.

In response, law enforcement authorities have taken swift action, arresting five individuals allegedly involved in the scam.

The arrested individuals include Yadla Nageswara Rao and Muslim Tatichetlapalem from Visakhapatnam, Thallabattula Satish Kumar from Uppal X Road (Hyderabad), Sarath Chandra Behara from Odisha, Anguru Manohar, and Chivukula Venkata Anil from Nizampet (Hyderabad).

The police issued a cautionary advisory to the public, urging vigilance against social media platforms and advising against opening links shared by unknown sources.

This incident serves as a stark reminder of the dangers posed by online scams and the importance of exercising caution while engaging with unfamiliar online entities.

For More Updates: Follow Us https://www.instagram.com/hellovizag.in/