Hyderabad: A 64-year-old freelancer from the city lost Rs 86,65,563 after falling victim to a cyber trading fraud operated by a fake SMC Ace app. The scammers created an illusion of legitimacy by showing inflated profits and allowing small withdrawals to build trust. Police seized his mobile phone and debit card from the accused. Influenced by these fake returns, the victim continued to invest larger sums by transferring money from his bank account into accounts controlled by the accused. Police seized a mobile phone and debit card from the accused.