I have been sent a tex message to say I have won 720.000thousand transaction 1ae76. Is this froud

Well, yeah... It's obvious it's fraud. Did you buy a lotto ticket? Did you give them your email address?

Of course it is, you are not notified by text or email that you win a lottery.

You won a lottery that you didn't enter and you wonder if it's a scam? Sure it is. They will need you to pay "fees" up front and keep telling you that until you run out of money. You will never see anything except an empty bank account.