Not long ago, I watched a friend of mine, James, get sucked into a scam that was cleverly disguised as a “crypto investment group” on Instagram. It started with a direct message from an account claiming to be a crypto investment expert offering free advice and tips. The account had several thousand followers and appeared to be run by a person who frequently posted “success stories” of ordinary people making thousands from crypto trading.

James, who had been curious about crypto but didn’t have much experience, was excited. He wanted to learn from someone who appeared to have proven results. The “mentor” offered a “VIP group” that provided daily trading signals and direct guidance, but only after James made an initial investment of $500 in a particular coin, which was supposedly guaranteed to increase in value.

The account was filled with testimonials and trading charts, and the influencer assured James that he would make back his money and more within just a week. Feeling a bit hesitant but trusting the professionalism of the account, James sent the money via USDT to the provided address. He was given access to the “exclusive” Telegram group, where the mentor kept promising high returns and encouraged more investments for “bigger profits.”

As the days went by, the signals didn’t make sense, and James’s trades began to go south. When he tried to ask for clarification, the group became less responsive, and the mentor started pressuring him to invest even more, claiming the funds would be needed to “unlock higher-level strategies.”

Eventually, James could no longer access the Telegram group. The Instagram account was deleted, and the crypto wallet address he sent funds to had already been emptied. It became clear that he had fallen victim to an Instagram-based scam where fraudsters prey on vulnerable, inexperienced traders looking for quick profits.

James’s painful experience taught him—and all of us—a valuable lesson: don’t trust random social media accounts offering quick profits or mentorship. Always verify credentials through other channels and avoid sending money to accounts you haven’t personally vetted or spoken to for a significant period.