Crypto scam on Instagram

[Charles-Tim]

I wonder how people are still falling for this scam, to believe and depend on someone they have never seen or known before, this type of scam is common on almost all social media platforms if not even all, where scammers will strategically and professionally impersonate people that do not know much or not yet fallen into such scam before.

Whitestream, which serves large institutions such as Israeli Ministry of Defense and global cybersecurity firm VERINT, discovered the scams on the social media platform Instagram. The Instagram accounts are designed to look like they’re from America or Europe, but Whitestream was able to track down that they actually originated from another country.

The scams, which target new crypto users, look very close to other widespread cryptocurrency scams. The scammers ask users to send bitcoin (BTC, -4.66%) directly to them, promising profits, but instead run away with the money.

As for me, I do not focus on the country this scam is originating from because it can be from any other country in the world, what most concern me is for people to learn and educate themselves on how to avoid such scam, people should not trust anyone on social media, if a stranger introduce someone into business be it on any social media, it is 100% scam, if the business is too real to be good by promising high yield return.

You can read about this in details here

[acroman08]

ignorance, stupidity, need, desperation, laziness, there is a lot more reason why there are people who keep falling for this kind of scam and no matter how much people try to publicly warns them of this kind of dangers on the internet there will always be people who will miss the warnings or just completely ignore it. also, you'll notice the majority of the victims of these scams have no idea what the other guy is talking about and I am sure you know that a lot of people can be easily persuaded if someone promises great results on what he/she about to do.

[Ryker1]

Well, it is indeed true.
I saw a lot of people talking about trading relevant to the OP sharing above. They are everywhere on social media, so perhaps it is good for us to avoid such kinds of strange people, we don't even know them. Just ask yourself, --why they need you if they can fund their selves and do it for their own benefits^[1], is there something especially for you why they offer you of that kind of service^[2], I am safe for this?^[3].
perhaps, they know that once you have fooled, it is easy money for them, I experienced this on my self and I don't know what they are trying to offer, a mining investment or trading, or a crypto investment. Even them, they even don't know what they are talking about, so it obvious and a red flag situation.

[hulla]

The last time I check this manner of cryptocurrency scam has been in existence since 2016 and what they are doing is just improve their strategy.
Anyone that still fall for the scam is definitely a greedy, sluggish and ignorant, impatient individual looking alternative way to make money through crypto.

[aoluain]

ignorance, stupidity, need, desperation, laziness, there is a lot more reason why there are people who keep falling for this kind of scam and no matter how much people try to publicly warns them of this kind of dangers on the internet there will always be people who will miss the warnings or just completely ignore it. also, you'll notice the majority of the victims of these scams have no idea what the other guy is talking about and I am sure you know that a lot of people can be easily persuaded if someone promises great results on what he/she about to do.

And simply "do your own research", which people generally dont do.
Alkl the scammers have to do is just sound and appear legitimate and
there will be someone who will be snared in their trap.

If it appears too good to be true, it usually is!
Everyone knows this saying but on these occasions people fail to consider it.

[Baofeng]

The last time I check this manner of cryptocurrency scam has been in existence since 2016 and what they are doing is just improve their strategy.

Well criminals evolved as well, when the market adjust, they also adjust. And the thing is that it seems though that they are one step ahead of the game, very sad.

Anyone that still fall for the scam is definitely a greedy, sluggish and ignorant, impatient individual looking alternative way to make money through crypto.

Probably, and sometimes someone really need to fall for the scammers trick to learn their lesson. I know it doesn't sound right, but for someone to learn, they need to experience it first hand.

[Oceat]

If someone knew about the cryptocurrency they must also know the rules that "not your keys, not your coins". Or simply avoid any disreputable people whom you never met once or didn't have a reputable records to show. In short, don't give money to someone who you never met and doesn't have the credibility to be trusted in the first place. Words are words, anyone can be deceive by it unless someone put something on the line just to gain trust.

This type of scam tactics is rampant in any other social media too, scammers and hackers do evolve as time passes by. We should be very vigilant about of giving our own money to someone and always be curious to everything—never invest to something that you don't know. That's the only essence you needed in order to survive, so always do your own research if you are curious.

[Rengga Jati]

-snip

Someone that is greedy, wants something instant, careless, never wants to do more research, and also easily influenced, and all about money may be also the reasons. Sometimes, newcomers in crypto only know about being or taking profits in cryptocurrency. They have influenced y so many advertisements and also news that crypto is very promising. SO, they enter the crypto world only to get profits. And when they get such a scam, they will not think twice, or even they will not get deeper information from others. They only focus on money and their dream to get much money as profits instantly.

[boyptc]

They're doing it almost in every social media. I agree to you that it's not we have to focus on the origin country of the scammer. Because scammers are everywhere.

Why is it that Facebook and Instagram can't filter these scammers messages?

[LogitechMouse]

Correct me if I'm wrong but there is a worse virus than the pandemic we are experiencing right now.
What is it?? Ignorance Virus.

This virus will not be eradicated because there will be and always be investors out there who are ignorant enough for them to get scammed. There are investors out there who are always thinking of a "quick rich scheme" like the OP has posted. Unfortunately, investors like this will not go away and scammers will always be the winner.

Well, like I'm always saying learning really is expensive especially here in investing. You need to get scammed in order for you to learn. You may not get scammed though if you research first before investing but the problem is investors are just investing and not researching. Let them get scammed so they will learn it the hard way. That is the hard truth.

[Taskford]

ignorance, stupidity, need, desperation, laziness, there is a lot more reason why there are people who keep falling for this kind of scam and no matter how much people try to publicly warns them of this kind of dangers on the internet there will always be people who will miss the warnings or just completely ignore it. also, you'll notice the majority of the victims of these scams have no idea what the other guy is talking about and I am sure you know that a lot of people can be easily persuaded if someone promises great results on what he/she about to do.

If there's huge money shown on the pic people well get crazy to ask on how they earned that and  this scenario most likely scammers attack then used this tactic to victimize those innocent people. That's why it's better to have a scam discussion drive since towards this it can educate people about the old scam methods and new ones.

[akirasendo17]

The reason why people still falls on the same scam over and over again is because of what are their current situation, for example, a person needs money for school or family financial problems, they are the most vulnerable people to scam because they are in a hurry to get the money they are convinced to invest to a scam project because of the promise, next one is greed the number one problem is greed which will pull you down.

[lovesmayfamilis]

I don’t know why people should have more trust in people from America or Europe? I found it a little funny. It is clear that the scammers hid their asses behind other people's IPs. But if you ask which country to trust more? You need to trust with caution.
Fraudsters are the same in all countries, they are the type of people who are completely lacking in moral qualities.
Another thing is that there are still such cranks on the Internet who are ready to send their bitcoins to strangers. Forgive me, it makes me laugh when I read such news. Someone learns from the mistakes of others, that is, they read, learn about online security. And someone still lives in the illusion of instant enrichment. Well, these are their life lessons. Until they understand that strangers cannot be trusted, they will receive such scams.

[nioctib.co]

First 5 days
500 - 2,500

Second 5 days
2,500 - 12.500

Third 5 days
12,500 - 62,500

Fourth 5 days
62,500 - 312,500

Fifth 5 days
312.500 - 1,562,000

Yes, I can earn 1.5 million in 25 days with 500. So send me your 500 now. LoL. Simple kindergarten math with some common sense can avoid this sort of claim. So who to blame when they fall into it? Blame their own "GREED".

[plr]

Yes, I can earn 1.5 million in 25 days with 500. So send me your 500 now. LoL. Simple kindergarten math with some common sense can avoid this sort of claim. So who to blame when they fall into it? Blame their own "GREED".

Not only greed, but these people also have never encountered an investment scheme like this, and when they saw one they thought as long as they have a good and well design website and they have profiles on the home page, which are all fakes, they think that it's legit, Greed will blind you on something that is so obvious.

[Theb]

Sheesh I know for a fact that messaging apps like Telegram and (more recently) Discord is bugged by these scammers as well as social media site like Facebook but I didn't know scam attempts also happen in Instragram where the main content is supposes to be pictures since I don't have any other social media accounts besides Facebook I would only assume that this is more prevalent in Twitter based on what I have seen in the past. I mean at this point anything that would connect you to a stranger has a risk of it being targeted by any scammer. I know services like this are constantly upgrading their security in order to avoid their users being scammed at by the user of their platform but they can't really remove everything so really the first line of defense should be coming from us the users itself, we should always practice our internet security as well have a mindset of if it is "easy money" then it is most likely a scam.

[nioctib.co]

Sheesh I know for a fact that messaging apps like Telegram and (more recently) Discord is bugged by these scammers as well as social media site like Facebook but I didn't know scam attempts also happen in Instragram where the main content is supposes to be pictures since I don't have any other social media accounts besides Facebook I would only assume that this is more prevalent in Twitter based on what I have seen in the past. I mean at this point anything that would connect you to a stranger has a risk of it being targeted by any scammer. I know services like this are constantly upgrading their security in order to avoid their users being scammed at by the user of their platform but they can't really remove everything so really the first line of defense should be coming from us the users itself, we should always practice our internet security as well have a mindset of if it is "easy money" then it is most likely a scam.

Mate, this is only tip of the iceberg. This post consider some impatience straight forward scam. I even seen some other social media tactic. They will post some very gorgeous lady picture with some luxury lifestyle, approach you and chat with you for maybe 3-5 days or longer before getting into trading. Then they will tell you how easy they can earn money through trading and that's how they support their lifestyle. By using this sort of tactic, those victim will fall into trap way more easier because of their "GREED" and dreaming on other people lifestyle.

[nioctib.co]

Yes, I can earn 1.5 million in 25 days with 500. So send me your 500 now. LoL. Simple kindergarten math with some common sense can avoid this sort of claim. So who to blame when they fall into it? Blame their own "GREED".

Not only greed, but these people also have never encountered an investment scheme like this, and when they saw one they thought as long as they have a good and well design website and they have profiles on the home page, which are all fakes, they think that it's legit, Greed will blind you on something that is so obvious.

Always Greed is the main problem. Most of them think that trading can get them rich almost instant, but unfortunately it isn't. I previously work in proprietary firms and the fact is, you are already a star trader if you can hit 15-20% ROI per annum.

The less skill needed investing in crypto by just invest it on mining rig and not trading. Usually BE at about 6 months+- and that's already consider 100% in such a short period. Still they want faster and that leads them to fall into those trap. 

[ScamViruS]

Scammers are trying to scam using this technique through every social media. I see this kind of activity every day through social media, and they create this scam strategy in such a way as to create greed among the people. Those who are new to the crypto market have no knowledge of such scams, so it is easy to trap them by showing them this tempting offer. Now if you take a look at the comment boxes of various popular pages, you will see the comments of various offers, all of which are made for the purpose of scammers. So crypto users should avoid such offers, there is no shortcut way to make quick profit.

[hulla]

The last time I check this manner of cryptocurrency scam has been in existence since 2016 and what they are doing is just improve their strategy.

Well criminals evolved as well, when the market adjust, they also adjust. And the thing is that it seems though that they are one step ahead of the game, very sad.

To be sincere, they are not much ahead of the game and what they did is to target newbies every time the market gained enormous traffic.

Anyone that still fall for the scam is definitely a greedy, sluggish and ignorant, impatient individual looking alternative way to make money through crypto.

Probably, and sometimes someone really need to fall for the scammers trick to learn their lesson. I know it doesn't sound right, but for someone to learn, they need to experience it first hand.

You make a point but learning some lesson through a cryptocurrency scam during this time that the world at large is currently battling with the Covid-19 and economic meltdown doesn't sound right.