Bitcoin Scam on Instagram

[PsyWulf]

Couple of points on this, after digging a bit further, and after another person I know posted similar stuff on instagram.

1. I contacted the person i knew to ask why they posting this stuff - they indicated their account was hacked and it wasnt them posting

2. Digging a bit more on the scam, it appears once your create a wallet or whatever, (which they help you to do and setup), the direct you to fund their own bitcoin account, claiming thats where the deposit should go to get your money out. link:

https://www.reddit.com/r/Scams/comments/qv2859

3. The reason this whole thing gets the scammers results is they hijack real peoples insta accounts and then post about the money they made with fake sms notifications of deposits to their accounts. People assume because this is their friend or friend of a friend that its legit.

So..
We were right?
Shocked!

 

[Ecco]

So..
We were right?
Shocked!

I said many times in the thread i knew its a scam. The thread is even called "Bitcoin scam on Instagram".

Nobody provided any explanation on how it worked, why legitimate people you may know would share this stuff etc.

Details provided above.

 

[PsyWulf]

Nobody provided any explanation on how it worked, why legitimate people you may know would share this stuff etc.

Let's look into this shall we

There's thousands of scams so the specifics of this one are difficult to deduce from a generic bait sentence. Often there is no person pointing to a mentor - they're all the same person playing different roles to string you along. Or the person has been told they need to get a new signup to get their payout (blackmail). Or they get some small cut for every referral. Or something along those lines.

Why not ask the friend of a friend?

You were told there's a few versions of this,like per above

Have asked the friend of a friend. They swear it's not a scam, they swear on their family their go their money out.

I can't vouch for that any further.

To which you replied your friend of a friend said it's not a scam
and a few other posts

Nobody provided any explanation on how it worked, why legitimate people you may know would share this stuff etc. - Incorrect

 

[Snyper564]

Let's look into this shall we


You were told there's a few versions of this,like per above


To which you replied your friend of a friend said it's not a scam
and a few other posts

Nobody provided any explanation on how it worked, why legitimate people you may know would share this stuff etc. - Incorrect

Kekeke

Agent or leadership Jen said it's legit therefore its legit...