Hi everyone,

I wanted to share a cautionary tale about an investment scam I recently encountered in the crypto world. I made an investment of R1270 with an individual known as “crypto man,” who promised me a return of R40450. However, when it was time to receive the funds, the situation quickly turned sour.

Firstly, I was asked to pay a €190 fee to withdraw my funds. I paid this fee, but days passed, and I still didn’t receive any money. Then, I was told that I needed to pay a lawyer because I don’t pay American taxes. Reluctantly, I paid another R2070, but still, there was no sign of my funds.

The demands didn’t stop there. I was then instructed to pay an additional R4000 to receive the funds. Despite paying this, I received nothing. To make matters worse, when I confronted the individual about my money, he became aggressive and denied ever receiving any funds from me, even though I had transferred the money from my Luno account to the address he provided.

I have all the proof of these transactions, including a contract he had me sign before we started the process. I’m sharing this experience to warn others in the community. Please be very cautious with such investment promises in the crypto space, and always do thorough due diligence before investing.

If anyone has advice on how to proceed or has had a similar experience, your input would be greatly appreciated.