What is Hyperverse App that cheated people in greed of making money?

Ground Report | New Delhi: What is Hyperverse App; Internet scammers appear to have found a new way to trick users into looting lump sums from their bank accounts in a recently discovered Hyperverse App scam. Hyderabad police warned people about the Hyperverse app, which they said was a "fraudulent app".

The police posted a warning on Twitter: "Do not invest in the Hyperverse app with a greed for easy money… If you invest, you will be scammed." He also shared the 1930 number for the Telangana Cybercrime Helpline.

What is Hyperverse App?

Hyperverse is made of millions of planets in the metaverse. In this virtual world, gamers, also known as travellers, can create tokenized items, start businesses. It is said to give a fair chance to all residents of the galaxy.

The new name was given to Hypefund due to its connection to the Ponzi Scam. However, it was also believed that the company changed its name to Hyperverse to attract more attention from young investors.

Cyber scammers use fake websites

Recently, a complaint filed by the Registrar of Companies with the Hyderabad CCS police has caused the rumours to stir with some putting the scammed amount in the hundreds of crores.

According to the complaint, the scammers created fake companies and websites and targeted victims by offering them huge winnings from online games and investments. Since the matter involved companies that appeared to be very similar to legal firms operating in India, the ROC entered the picture.

However, high-ranking police officers were careful not to divulge too much information, saying, “Rumors that the sums involved are around Rs 2,200 crore are unfounded. The amount of money swindled has not been calculated as the investigation is ongoing."

Featured Photo by Kanchanara on Unsplash

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