ScamCrypto Forum Forums Crypto Fraud Case Studies Beware of Scam Involving

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      A distressing account has surfaced from an individual who fell victim to a sophisticated scam operation through Instagram, leading to a total loss of $16,000. This scam involves the use of cryptocurrency transactions, exploiting the trust of individuals looking to invest or increase their digital asset holdings. The scam unfolded through various stages, starting with an introduction on Instagram and moving through different money transfer methods, including a Bitcoin ATM and an online payment platform.

      Critical Information for OSINT Investigations:

      • Fraudulent Website:
      • Scam Type: Cryptocurrency
      • Total Amount Lost: $15,500
      • Location of the Targeted Individual: CA, USA- 90041
      • Scammer’s Initial Contact Method: Instagram Messages
      • Payment Methods Used: MoonPay (for a $5,900 transaction), Bitcoin ATM (for transactions totaling $9,500)

      The victim was initially contacted via Instagram and was persuaded to make a series of payments to “invest” in cryptocurrency through Capital FX Trade. The process involved a direct payment through MoonPay, followed by additional demands for money to be deposited through a Bitcoin ATM.

      If you have had a similar experience with, or if you have been approached through social media with an investment opportunity requiring payments through cryptocurrency platforms or ATMs, please share your story. By coming forward, you can help build a case against the perpetrators, provide crucial information for open-source intelligence (OSINT) investigations, and potentially aid others in avoiding similar scams.

      This warning aims to raise awareness of the tactics used by scammers operating through social media and cryptocurrency platforms. Your insights and experiences are invaluable in the fight against these fraudulent schemes.

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