scorecardresearch
Friday, March 29, 2024
Support Our Journalism
HomeIndia'Scammers' now prowl on Instagram. Crypto advice can be from hacked accounts...

‘Scammers’ now prowl on Instagram. Crypto advice can be from hacked accounts of friends, known circles

Compromised account is used to target other victims without knowledge of the user. Scammers keep deleting accounts or changing name of Instagram handles, says a police officer.

Follow Us :
Text Size:

New Delhi: “Wow this is so amazing I can’t believe Bitcoin mining is real I am glad to inform you all to invest and earn in Bitcoin mining company within 3 hours I invested 50k in 3 hours time I have earn profit of 500k…. Here is the proof. Hurry up and DM her @bianca_maria_fx.”

If a story like this appears on an Instagram account of even friends and acquaintances, chances are high that it is hacked by crypto scammers. Worse, the compromised account is being used to target unsuspecting victims without the knowledge of  its user.

A casual glance is unlikely to give any hint of the scammers going about with their clandestine mission to cheat people who are looking to make a quick buck.

Fraudsters post messages like the one mentioned above with tagged accounts along with the photos of Instagram users to lend it a genuine look.  At times, the caption looks like  a screenshot of phone wallpaper. Messages from “Paypal” or “bank account” complete the fraud job.

When users click the tagged accounts, the profiles that pop out normally are that of women’s photos picked up from Google, along with those of fancy cars and posts claiming profits made through cryptocurrency.

Messages like “Hi there! Here’s what’s new Paypal balance is $10,010.07. The money just hit my PayyPal now, ain’t the caping, you’ll give her a try”, or “Y’all thought it was fake, well I just reinvest $1000 dollar quite long and got back $10,000 dollars in just 3 hours thank you so much” try to lure prospective crypto users.

Screenshot of a message posted on hacked Instagram acccount | ThePrint
Screenshot of a message posted on hacked Instagram acccount | ThePrint

Unsuspecting Instagram users will have no idea that such images are being posted through hacked profiles. Post after post, scammers put up screenshots and messages to show how individual PayPal balances have swelled or how Bitcoin mining is “real and legit”. “Y’all thought it was fake, well I just reinvest $1000 dollar quite long and got back $10,000 dollars in just 3 hours thank you so much” — messages like these will be visible to the unsuspecting victims.

Screenshot of another message of Bitcoin mining posted on hacked Instagram acccount | ThePrint
Screenshot of another message of Bitcoin mining posted on hacked Instagram acccount | ThePrint

In June, cyber-security company CloudSEK came out with a report on a high-profile scam in which Indian investors were looted of Rs 1,000 crore by fraudsters. The scam, CoinEgg, uses “fake domains and social media accounts to coax users into investing in fake exchanges”, it said.

A senior officer of the Delhi Police said scammers keep deleting accounts or changing the name of Instagram handles.

“Moreover, once a user is scammed, and by the time the complaint is received, the money has already been siphoned off. Cryptocurrency frauds have increased over years, especially since the Covid outbreak. With the promise of quick money, innocents are lured. In some cases, they also gain remote access to the user’s phone,” the officer said.


Also Read: Millennials in India making riskier investments, in bid to boost returns rocked by inflation


Things go murkier 

In one crypto scam case, a 20-year-old Delhi college student received a call from an international number asking her to record a video and send it on that number via WhatsApp. She was blackmailed into mentioning that bitcoin mining is legit and profit making if she wanted her account to be restored.

Over the last one week, ThePrint came across at least seven such instances. The pattern was almost the same, with most messages having more or less the same language.

In one of these cases, a 25-year-old student based in Assam realised his account was scammed after a friend called him the next day after viewing a series of posts on crypto trading.

Things became murkier after his friend messaged him on Instagram asking about  “investments”. That’s when the hacker impersonating the student began to message about it, as given below:

User 1 — “are you serious”

Hacker — “real and legit 100% sure bitcoin mining investment platform. I invest with a sum of $500 dollars in less than 3 hours. I got $5000 dollar as my profit. Are you interested?”

Hacker — “This is her page, follow her now and send her a message and start investing in bitcoin mining.”

User 1 — “how much did you invest”

Hacker — “$500 is 40,000 rupees”

The next day, the user sent a meme with a dialogue from the Bollywood movie ‘Phir Hera Feri’“25 din mai crorepati” — as a joke. The hacker replied: “ real and legit 100% sure”. It took the user a whole day to restore his Instagram account.

None of the above users filed an official police complaint. ThePrint reached out to a Meta spokesperson via email. This report will be updated when a response is received.

When ThePrint reached out for a statement, Assam Director General of Police (DGP) Bhaskar Jyoti Mahanta said: “We have received some complaints on the matter and are looking into it.”

Multiple ways to fraud users 

There have been other instances of cryptocurrency frauds on Instagram as well. For instance, some users also receive private messages on chat from strangers, mostly women.

The conversation starts normally but after the first few messages, it switches to crypto investments. One of the commonly used tricks is putting up investment links and manager’s handles on Instagram posts. Scammers pose as crypto trading experts when Instagram users connect them through direct messages.

While the names of well-known crypto exchanges like Binance are dropped to win the trust of users, fraudsters share the link of a fake crypto exchange posing as the legitimate company.

So, how can users avoid falling into the trap of scammers? One of the ways to identify fraudsters is to keep a tab on the language used by the hackers and impersonators while messaging on Instagram. A quick scan through these messages will show the repeated use of words written as “y’all”, “legit”. A lack of punctuation and grammar can flag users about a possible scammer at work.

“The trend of posting phising crypto links has been noticed across social media platforms. Users must change their passwords whenever they notice someone else’s account is hacked. Moreover, one should avoid clicking on any of these links put up on social media, or interacting with random accounts discussing crypto currency,” the above-mentioned senior Delhi Police officer said.

(Edited by Tony Rai)


Also Read: Bitcoin Era reviews (Australia & Canada): Is it legit or is it a scam app?


 

Subscribe to our channels on YouTube, Telegram & WhatsApp

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

7 COMMENTS

  1. For any hack related jobs, crypto recovery or data and fund recovery reach out to (zattrecoverypro1 AT G mail c o m) they also help trace accounts that are hacked and track down scammers as well.

  2. It’s not often you feel the ground disappear beneath your feet, but when my online investment platform froze and my $200,000 savings vanished into thin air, that’s exactly what happened. Panic, disbelief, and a crushing sense of helplessness washed over me. My life savings are gone. Then Muyern Trust Hacker appeared, offering a ray of hope. Finally, the news arrived. My funds, all $200,000 of them, were recovered. Tears of relief streamed down my face as I read the confirmation email. It felt like a miracle, a second chance at life. My experience with Muyern Trust Hacker wasn’t just about getting my money back. It was about regaining my faith in humanity, the possibility of justice, and the existence of good people who fight for what’s right. Today, I stand here, no longer a victim, but a survivor.

  3. Don’t be deceived by different testimonies online that is most likely wrong. I have made use of several recovery options that got me disappointed at the end of the day but I must confess that the tech genius I eventually found is the best out here. It’s better you devise your time to find the valid professional that can help you recover your stolen or lost crypto such as bitcoins rather than falling victim of other amateur hackers that cannot get the job done. {Lisatheo225 @gmail com is the most reliable and authentic blockchain tech expert you can work with to recover what you lost to scammers. They helped me get back on my feet and I’m very grateful for that. Contact their email today to recover your lost coins ASAP.

  4. VALOR HACK RECOVERY TEAM’S INFLUENCE THE WORLD IS SLEEPING ON,Cryptocurrency emerged as a popular digital asset in today’s digital world, facilitating various transactions. Unfortunately, along with its increasing popularity, the occurrence of crypto scams has also seen a rise. Many individuals opt for cryptocurrencies to avoid fees and maintain anonymity while purchasing products, availing services, or conducting payment transactions. Moreover, investors hold different digital currencies as investments, aiming to secure profits.However, the growing allure of cryptocurrency has attracted the attention of scammers in the digital realm.If you’ve been scammed, you’d feel devastated because of what happened, and you’d ask yourself whether the stolen funds could be recovered. Although you think there’s no 100% guarantee of recovery, this is where “VALOR HACK RECOVERY TEAM” comes in . My advocacy towards “VALOR HACK RECOVERY TEAM” was after my experience in an investment scam, my trust system broken, going in and out of depression, I believe we are all familiar with the feeling of being cheated. VALOR HACK RECOVERY TEAM pulls the brake on our ride to financial doom and reverse every penny you have lost. Contact details are as follows ;
    * Email: valorhaq at g mail dot com
    * Telegram: Valorhaq_HQ
    One of the most effective ways to protect others from falling victim to cryptocurrency scams is through education. Beginner-level users must understand the basics of cryptocurrency, including key concepts such as private keys, wallets, and secure trading practices. By fostering a culture of knowledge sharing, we can empower individuals to make informed decisions and avoid scams.This information won’t do more than what it’ve just done, inform you…what you choose to do with this info is all up to you.

  5. who have ever been a victim of a scam? Lost your wallet or money to fake hackers online? I’ll implore you to contact this trustworthy hacker and recovery expert spycjoness. I was a victim of fake people posing as binary options and bitcoin investors, I lost a sum of $5,000 and 2BTC from my bitcoin wallet to these fakes. It took a while before I realized they were scams and this really hurt .Then an in-law of mine heard about it and recommended to me a specialist with the address . He helped me recover my lost bitcoins in less than 72hrs and the fakes were caught and made to pay for what they did to me .if you have lost any amount to online scams and you’re seeking to recover them, in fake hackers, online dating scams, btc wallet hack, fake binary investors .Reach out to (Lisatheo225 gmail com) to help you ,and you will be so glad you did so, Absolutely fantasic review

  6. Guys be wise, do not make the same mistake I had made in the past, i was a victim of bitcoin scam, i saw a glamorous review showering praises and marketing an investment firm called AUBREY Investment Co, I reached out to them on what their contracts are, and i invested $30,000, which i was promised to get my first 15% profit in weeks, when it’s time of collection of profits, I got to know the company was bogus, they kept asking me to invest more and i ran out of patience then requested t have my money back, they’ve refused to answer nor refund my funds, not until Fred my friend introduced me to the Cryptocurrency Recovery Agency, after tabling my complaints, they were swift to action and within 36 hours, i got back my funds with the due profit, I couldn’t contain the joy in me. I urge you guys to reach the Crypto Recovery agency on their support email:Lisatheo225@gmail.com

  7. CRYPTORECOVERYHACKER @ GMAIL COM delivered everything they promised. I have been able to refinance my house, buy a new car. They fully recovered my stolen crypto, I never thought it was possible. If you have been scammed of your hard earned money send a mail to them at CRYPTORECOVERYHACKER @ GMAIL COM}, I have referred many friends and even a few family members to their service and they’ve all come back with positive feedbacks to thank me!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular