A 74-year-old Hyderabad resident saw a Facebook advertisement claiming rare coins could fetch high prices from collectors. When he responded, fraudsters posing as buyers demanded multiple “processing charges”, including verification, RBI clearance, and courier fees, before releasing the payment. Over time, he made 28 UPI transfers totaling ₹4.27 lakh. Once the money was sent, the scammers stopped responding and even issued threats. The victim then approached the police, who registered a complaint and cautioned others about such coin-sale rackets circulating on social media.
- Prevention Tip:
- Never pay “processing” or “clearance” fees to strangers online.
- Verify any high-value deal by meeting in person or using a trusted, secure platform.
- Amount paid: ₹420,000
- Date: September 2025
- Evidence: None
- Sources: Source
- Outcome: Lost
- City: Hydrabad
- Sector: Ecommerce
- Trap Type: Verification Scam
Story
A 74-year-old Hyderabad resident saw a Facebook advertisement claiming rare coins could fetch high prices from collectors. When he responded, fraudsters posing as buyers demanded multiple “processing charges”, including verification, RBI clearance, and courier fees, before releasing the payment. Over time, he made 28 UPI transfers totaling ₹4.27 lakh. Once the money was sent, the scammers stopped responding and even issued threats. The victim then approached the police, who registered a complaint and cautioned others about such coin-sale rackets circulating on social media.
Quick Facts
- Date: 20250913
- Amount paid: ₹420000
Prevention Tip
Never pay “processing” or “clearance” fees to strangers online.
Verify any high-value deal by meeting in person or using a trusted, secure platform.
