Is this a scam? What to do next.

[blckhawk]

A general rule of thumb in investments, if the person or company promises you huge returns in a matter of short time, it's probably a scam. Not only applicable to bitcoins, but also to other investments offered to you by other people. Those scammers feed out of people's greed to earn money quick, and will do several supporting acts (like the application your friend has) to further fool the victim and get as much as possible before bailing out. It's bad to hear but we all learn from mistakes to make us more cautious.

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[atjiat]

As always, first of all, newcomers are deceived who do not have enough knowledge and experience.  One cannot blindly believe in an eloquent promise and large numbers, which are usually created by scammers to attract attention.  It is hard to imagine how much money the scammers stole from investors in recent years, because these funds could really improve the situation in the cryptocurrency market.

[Mike Mayor]

A common investment scam and that happens all the time and those newbie investors are the ones who are falling into this kind of trap.

First of all, there is no guarantee in investment (my first rule). Even in other investments, there are no guarantees so if you saw the word guaranteed profit the best thing to do is to stay away from the investment because it will end up as a scam.

Some scammers' strategy is that they will put in your dashboard an amount which is twice the money you invested but in reality, you can't withdraw it because in order to withdraw it you must invest a certain amount. Best thing to do to prevent being scammed is either you learn how scammers scam people or just don't invest at all.

I agree. That is just a bait. There is no investment that will double over night so go away from that and do not believe because if you do you gonna end up of losing than gaining from it. Very few can be trusted but other just copying the project with bad intentions. Beware where you are going to take your investments.

I can’t believe that there are so many people in the cryptocurrency space who believe in easy and quick money making in this market. We must understand that the rate of return on the cryptocurrency market also exists. I think that this rate of return is not more than 30% per year.

I was looking at some advertising sites the other night and unfortunately, sometimes HYIP and scams and the like go through the gaps. I came across a "bitcoin generator" 100x yout bitcoin in 24hours. I just laughed and laughed. HOnestly whoever sends anything to these websites deserves to lose everything they send. The fact that these websites exist means that there are people so stupid out there which is shocking and I wonder how these sort of people live their day to day lives if they believe everything they hear or read. Noone things ok so 0.001 is 0.1 then put 0.1 and get 10btc in 2 days for only 0.001 lol

It annoys me because this crypto should be going toward worthwhile projects to help fund them.

[karanggatak]

i think the app is made by cheater to fool your friend. you must tell them if he want to invest, he must have friend that know about investation, so the experienced guy can tell more about investation and guarantee that its not scam.
i have family and he have same experience like your friend. he invited by stranger and he do it because the profit is doesnt make sense. at the end he lost the money

[Betwrong]

A common investment scam and that happens all the time and those newbie investors are the ones who are falling into this kind of trap.

First of all, there is no guarantee in investment (my first rule). Even in other investments, there are no guarantees so if you saw the word guaranteed profit the best thing to do is to stay away from the investment because it will end up as a scam.

Some scammers' strategy is that they will put in your dashboard an amount which is twice the money you invested but in reality, you can't withdraw it because in order to withdraw it you must invest a certain amount. Best thing to do to prevent being scammed is either you learn how scammers scam people or just don't invest at all.

Scammers invent new schemes all the time. It's impossible to learn all of them. I think a good practice for the not experienced investors would be something like KYC, only in reverse. Being a customer, know the people you are dealing with. And when you know who are they exactly, read as much as possible about them on the Internet. Trusting your money to someone you don't know is a stupid act, so don't be surprised by the consequences.

[Palider]

The police can be help if you provide more detailed information, so you should notify the authority involved in these cases in order to promptly take action and recover the stolen money.

Such investments that provide 100% interest are unreliable. So we should be carefull because the chances are high that this is 100% :scam.

[peter0425]

A common investment scam and that happens all the time and those newbie investors are the ones who are falling into this kind of trap.

First of all, there is no guarantee in investment (my first rule). Even in other investments, there are no guarantees so if you saw the word guaranteed profit the best thing to do is to stay away from the investment because it will end up as a scam.

Some scammers' strategy is that they will put in your dashboard an amount which is twice the money you invested but in reality, you can't withdraw it because in order to withdraw it you must invest a certain amount. Best thing to do to prevent being scammed is either you learn how scammers scam people or just don't invest at all.

I agree. That is just a bait. There is no investment that will double over night so go away from that and do not believe because if you do you gonna end up of losing than gaining from it. Very few can be trusted but other just copying the project with bad intentions. Beware where you are going to take your investments.

I can’t believe that there are so many people in the cryptocurrency space who believe in easy and quick money making in this market. We must understand that the rate of return on the cryptocurrency market also exists. I think that this rate of return is not more than 30% per year.

Why I believe that OPs Friend is a newbie in crypto and just being a victim because of his own greediness
.trusting random people that you only met online once?and suddenly entrusting money?this really hurt but no one to blame but Bob
This will be a lesson that he will never forget ,and the bad effect in crypto is another potential investors turns to be a victim and may not consider putting money inside our marker

[Kelvinid]

The police can be help if you provide more detailed information, so you should notify the authority involved in these cases in order to promptly take action and recover the stolen money.

Call for the police? I don't think if they will listen to us. We know they don't have huge understanding of crypto, and I'd never think that they could solve this problem since they can't find solid proof for a scamming activity.

Such investments that provide 100% interest are unreliable. So we should be carefull because the chances are high that this is 100% :scam.

This is what we should have to do. Never get tempted into huge offerings cause it mostly scams.
Even though there is awareness about scam but we can't deny that many have still fallen into it. It sounds like they don't understand it or they just want to experience to be scammed...

[ardentvolcanoes]

This is what we should have to do. Never get tempted into huge offerings cause it mostly scams.
Even though there is awareness about scam but we can't deny that many have still fallen into it. It sounds like they don't understand it or they just want to experience to be scammed...

Most of them knew or feel that it can be a scammed attempt but because of greediness and hoping to earned big in a short period of time, they got tempted and still proceed. The whole idea of such big profits still followed by people who don't mind about losing money. They will just react right after that they've already got fooled by scammers. Avoiding things like this to happen needs a good balance of knowledge and assessment to the situations, always think twice before making any decisions.

[pundit]

If Sam keeps on depositing money with them, he will only be responsible for his loss. Stop sending money to these scammers. These apps are self developed, self operated and self managed by those scammers, they can show you a big profit at any moment. Never trust such websites or apps which shows you a big profit or offers you high fixed return. Police can help SAM with lost funds if you identify the scammers and lodge a complaint against them.

[Palider]

The police can be help if you provide more detailed information, so you should notify the authority involved in these cases in order to promptly take action and recover the stolen money.

Call for the police? I don't think if they will listen to us. We know they don't have huge understanding of crypto, and I'd never think that they could solve this problem since they can't find solid proof for a scamming activity.

In my understanding the word "Crypto" was used only by thieves to attract the victim. So the money is not used to buy Bitcoin or any crypto currency.

So definitely one of the things our victim will use to give the money is the bank.
 
And if he did, the police working and covering such cases would play a big role.

However, the OP has even provided detailed information so that we can have an idea of what we should recommend to his friend.

[Xxmodded]

Look scam because bitcoin is not application and do not show your profit with several percent of your money, lest find the ideas maybe for first and second payment will be success but will the third payment success and next payment will be paid or not. Bitcoin will give you profit based on how much price grow up and when price down you can get profit with bitcoin, just an opinion you have move your money and ask Sam the correct investment he chooses because is not bitcoin.

[Dewao]

its scam investment scheme sa stay from away that . those investmetn that give guaranteed high return are mostly scam before investing check if they can really sustain the return they are giving.

[minersday]

So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).

Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.

Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.

What should Sam do? Will the police help?

This is totally a scam. Your friend Sam has just lost his money and there is nothing he can do about that. You just need to advice him not to invest more. So far as it is an online investment something, there is little he can do to retrieve his lost money. People are always fooled by a get rich soon ponzi scheme so easily to the extent that I don't really understand.

[Bitcoin Seller]

A common investment scam and that happens all the time and those newbie investors are the ones who are falling into this kind of trap.

First of all, there is no guarantee in investment (my first rule). Even in other investments, there are no guarantees so if you saw the word guaranteed profit the best thing to do is to stay away from the investment because it will end up as a scam.

Some scammers' strategy is that they will put in your dashboard an amount which is twice the money you invested but in reality, you can't withdraw it because in order to withdraw it you must invest a certain amount. Best thing to do to prevent being scammed is either you learn how scammers scam people or just don't invest at all.

I agree. That is just a bait. There is no investment that will double over night so go away from that and do not believe because if you do you gonna end up of losing than gaining from it. Very few can be trusted but other just copying the project with bad intentions. Beware where you are going to take your investments.

I can’t believe that there are so many people in the cryptocurrency space who believe in easy and quick money making in this market. We must understand that the rate of return on the cryptocurrency market also exists. I think that this rate of return is not more than 30% per year.

In 2017 it was possible to make 1000% profit, but it was just the rule exception. I suppose a similar situation will be not repeated, so, when you see that someone promises you the greatest income in the shortest time, it is a scam. As for me, it is much better to work with Bitcoin and trusted altcoins that have proved their reliability. You might not make fast money, but you will not lose everything.

[jets567]

The police can be help if you provide more detailed information, so you should notify the authority involved in these cases in order to promptly take action and recover the stolen money.

Such investments that provide 100% interest are unreliable. So we should be carefull because the chances are high that this is 100% :scam.

Yes this is possible because recently I've read a news about some scammers getting arrested by the police with the help of some organization for anti-cybercriminal (I forgot the name). They manage to track down those scammers using the address they used for depositing, they follow the movemement of Bitcoin until it goes to a known exchange wherein the scammers are trying to convert their Bitcoin into fiat currency then the police coordinated with the exchange and found out the identity of those scammers.

[milani]

So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).

Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.

Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.

What should Sam do? Will the police help?

Oh, it is a typical situation in the world of profit and money. Some are too inventive and make great really working schemes and pyramids.  Really simple and ingenious. And some people are sometimes too greedy, sometimes too naive, sometimes just too inattentive to details. And such of people, they find each other in different parts of the world. And as result such kind of situations happen. Sorry for sarcasm, but why this person named Bob or whoever he is had not stoped after first investment?.. did he try to find some more information about this scam team in the internet, chats, forums or telegram groups where lots of people are engaged in crypto, where there are lots of people with their own experience in crypto world?... It is a pity, but no police in the world will help him now, no other actions will bring the positive result in order to get his invested money....only move further on and be more attentive before investing such amounts of money in whatever it may be....((((( Just think twice...

[jarhed]

So okay, this story didn't happen to me. It happened to a friend (let's call him Bob) of a friend (I will call him Sam).

Bob came to me asking is this a scam and is it legal. Bob doesn't know much about bitcoins and crypto, Sam even less.
Sam somehow got in contact with people who offers to open an account and invest into crypto. These people guaranteed a lot of profit. Sam paid 500 EUR at first and other two times a 2000 EUR.
What is interesting, that these people calling him to invest more. But he has an app (I don't know what app, because I heard it from Bob and he doesn't know either) which shows that Sam has doubled his investment (9000 EUR), but he cannot withdraw it now and these people (from Russia) are calling and rushing him to invest even more.

Bob asked me about that, I said that this is some nonsense. There shouldn't be people calling you and asking to transfer money. All is too fishy.

What should Sam do? Will the police help?

Oh, it is a typical situation in the world of profit and money. Some are too inventive and make great really working schemes and pyramids.  Really simple and ingenious. And some people are sometimes too greedy, sometimes too naive, sometimes just too inattentive to details. And such of people, they find each other in different parts of the world. And as result such kind of situations happen. Sorry for sarcasm, but why this person named Bob or whoever he is had not stoped after first investment?.. did he try to find some more information about this scam team in the internet, chats, forums or telegram groups where lots of people are engaged in crypto, where there are lots of people with their own experience in crypto world?... It is a pity, but no police in the world will help him now, no other actions will bring the positive result in order to get his invested money....only move further on and be more attentive before investing such amounts of money in whatever it may be....((((( Just think twice...

You can meet a lot of inattentive people in the cryptocurrency market. I think that the situation will change in the future and we will see a very strong cryptocurrency market. Market participants will conduct equal competition.

[Fredomago]

-Snip-

Oh, it is a typical situation in the world of profit and money. Some are too inventive and make great really working schemes and pyramids.  Really simple and ingenious. And some people are sometimes too greedy, sometimes too naive, sometimes just too inattentive to details. And such of people, they find each other in different parts of the world. And as result such kind of situations happen. Sorry for sarcasm, but why this person named Bob or whoever he is had not stoped after first investment?.. did he try to find some more information about this scam team in the internet, chats, forums or telegram groups where lots of people are engaged in crypto, where there are lots of people with their own experience in crypto world?... It is a pity, but no police in the world will help him now, no other actions will bring the positive result in order to get his invested money....only move further on and be more attentive before investing such amounts of money in whatever it may be....((((( Just think twice...

It's an obligation to anyone to research once you throw your money out of your pocket. You should always concerned and not too lazy to allow
your investment with the hands of someone, curiosity wise, a friend of yours release money without any assurance then after that he didn't manage
to seek for some information about the business that he's investing with, there's no one can help him as crypto is not been cover yet by any regulations.

[Shasha80]

I call this planning fraud, right now there are a lot of scams like this. We must always be vigilant. I suggest that Sam never send money again,
there is no need to ask the police for help later the problem will become big. Just let it go Sam's money have been cheated, and don't deal anymore
with this Russian guy. And make this a valuable lesson to be more careful when getting an investment offer in large or small quantities. If you want
crypto investment for newbies just do it yourself and don't use third party services like brokers. Who will be there later got scam like Sam's case. Indeed, the crypto world is currently under examination, with many of its scammers hanging around. We ourselves can protect it more carefully in accepting investment offers or ICO projects.