Fake Bitcoin Scam Uses Instagram to Steal Acounts
February 4, 2022
Instagram users beware! The popular social media site has been flooded with get rich quick opportunities. However, Instagram users are not getting rich, they are getting scammed. Hackers are taking advantage of the public’s general uncertainty as it pertains to bitcoin and the emerging cryptocurrency market, and using this confusion to lure victims.
The scam starts with Instagram users seeing some of their friends and people they follow post about Bitcoin and boast all about the money they are making investing in the cryptocurrency. Posts can contain pictures of Mercedes and even new homes that the user is claiming they have been able to purchase in a very short period of time after investing in bitcoin. Often their posts are followed by a direct message, with the hacker impersonating their “friends”, urging them to also take advantage of this bitcoin opportunity. While most people would have their guard up if this kind of easy money opportunity came across their social media accounts, because these messages are coming from people they follow and presumably know and trust, it makes users far more susceptible to the scam. What they don’t realize is the people they are talking to aren’t who they think they are, but instead are hackers who have taken over the accounts of their friends and followers.
Daulton Lootens, a recent graduate of CWU, experienced a direct message just like this. The imposter dm’d him from an account of a close friend who Lootens trusted. “He offers me money to help him advertise by going into my Instagram settings and changing my email contact to a different email that he gives me. And once I change the email he then is able to go in and change all my passwords and I’m immediately logged out of my account.”
College sophomore Brevan Bae had a similar experience and after changing his password began to feel uneasy and immediately tried to change it back. “I changed it back right away but I was too late and it didn’t work.”
When users lose control of their Instagram account, the hacker will start impersonating them, using their account to post all about Bitcoin opportunities, and now reaching out to their followers in an attempt to do the exact same thing, and thus the cycle continues.
However, sometimes it doesn’t end there. In the case of many users, like CWU alum Will Ortner, the hacker will resort to extortion. “My girlfriend was not happy with me losing my account so we dm’d my hijacked account from her Instagram account asking to get it back, and he said he would for $60. It wasn’t something I would usually do, but my girlfriend kept chirping at me and I panicked and ended up sending the $60 in Bitcoin he requested. After receiving it, he didn’t give the account back and immediately blocked my girlfriend’s account.”
While this scam is running rampant on Instagram, users have complained that Instagram has been very little help in their attempts to get their account back. Brevan Bea said, “Instagram didn’t do anything about it even after emailing them over and over again so I had to end up making a new account.”
Gracen Bayer, Social Media Manager for 88.1 the Burg, offers these suggestions for Instagram users to avoid falling victim to scams. These include turning on two factor authentication so every time a new device logs into an Instagram users account, the user will receive a one time code to enter to ensure it is them. Bayer additionally recommends “a strong password as well” and reminds users, “if something sounds too good to be true…it probably is.”
soan • Nov 2, 2023 at 10:50 am
For any hack related jobs, crypto recovery or data recovery reach out to (hackerrone90 @ gmail com) they also help trace accounts that are hacked and track down scammers as well.
Jack • Oct 7, 2023 at 3:08 pm
I am so grateful to Mark Wizard Recovery Solution for helping me recover my stolen tokens from a fraudulent crypto investment broker. I had invested about three months ago, after investing I watched my investment grow gainfully. My problem started when I decided to withdraw. I was slammed with fee upon fees and when I couldn’t pay anymore fee my account was blocked the only help I got from local law enforcement and the FBI was to stay off the internet and not how to get my funds back then I knew it was my mess and I had clean up myself, I did my research I found three recovery experts online with good reviews I contacted all three and got three options which I choose the best and decided to work with Mark Wizard Recovery Solution. Something about Mark Wizard stood out from the others. My guts were right (Mark Wizard Recovery Solution) was able to recover every penny I lost I don’t know he did it but I am glad he came to my aid at my troubling moment his professionalism trustworthiness helped through that ordeal, Mark Wizard Recovery Solution is one amongst few hackers using it hacking skills to help victims of scam online. Mark Wizard is reliable, you can contact him to help out with that problem you have now.
Thank you Mark Wizard Recovery Solution.
Gab Husman • Oct 7, 2023 at 8:15 am
HIRE A GENUINE AND TESTED CRYPTOCURRENCY RECOVERY EXPERT NOW
If you’re really keen on getting your money back then this is for you .. The best approved recovery expert is Truman Jovani , of Trust Guard Digital Assets Recovery . trustguarddigitalassetsrecovery ( @ ) aol ( . ) com . I lost $820,000 USD in btc to a scammer who i met on a website because he persuaded me to invest in a trading platform , he stopped communicating with me and i was frustrated until i was introduced to Trust Guard Digital Assets Recovery by my bank .. I sent him the contact of the scammer , the trading platform and proof of the payments that i sent to the scammer and then within 24hrs , the recovery company tracked and recovered backed all my lost funds to their platform and they sent it back to me .. I am so grateful to God for everything . To contact the recovery expert , email, trustguarddigitalassetsrecovery ( @ ) aol ( . ) com please help me thank and appreciate Truman Jovani of Trust Guard Digital Assets Recovery . They are so powerful and honest and 100 percent assured that you will get your lost funds and crypto currencies back , Stay blessed .
Gab Husman • Oct 7, 2023 at 6:25 am
HIRE A GENUINE AND TESTED CRYPTOCURRENCY RECOVERY EXPERT NOW
If you’re really keen on getting your money back then this is for you .. The best approved recovery expert is Truman Jovani , of Trust Guard Digital Assets Recovery . trustguarddigitalassetsrecovery ( @ ) aol ( . ) com . I lost $820,000 USD in btc to a scammer who i met on a website because he persuaded me to invest in a trading platform , he stopped communicating with me and i was frustrated until i was introduced to Trust Guard Digital Assets Recovery by my bank .. I sent him the contact of the scammer , the trading platform and proof of the payments that i sent to the scammer and then within 24hrs , the recovery company tracked and recovered backed all my lost funds to their platform and they sent it back to me .. I am so grateful to God for everything . To contact the recovery expert , email : trustguarddigitalassetsrecovery ( @ ) aol ( . ) com please help me thank and appreciate Truman Jovani of Trust Guard Digital Assets Recovery . They are so powerful and honest and 100 percent assured that you will get your lost funds and crypto currencies back , Stay blessed .
Simon • Feb 3, 2023 at 3:40 pm
Talk to a recovery company like grantbeyond to recover your losses. they are legitimate and can be trusted 100 percent
Elizabeth Ruth • Sep 23, 2022 at 12:16 pm
My advise to anyone who do not understand about the crypto trading is to be extremely careful on investing or rather stay away from crypto investment. I heard about a bitcoin programmed scheme that I taught was a Legitimate investment opportunity but turned out the other way round, my family and I invested as I was so blindfolded about the negative part this may turn out to be and collectively our loss was about $250,000 when it was time for us to take the profit they refused me from doing so rather they keep asking us to invest more.. that was when i realized what i got myself into I taught all money was lost until I met a life savior on a certified crypto site who had helped a lot of people recover there stolen coins, I explained my situation to him and he assured me he’ll help me get my money back, I gave it a try and he definitely did a great job, all my money was recovered back into my wallet account in few days, I don’t really know how he got this done but this is really awesome! I’m writing this to informed anyone who had similar issue to contact this expert via mail/ RamsayMacDonald aT Consultant. Com / I must say that i’m happy right now, cause I luckily escape this trolls online looking for who to render broke Financially.
Elizabeth Ruth • Sep 23, 2022 at 12:15 pm
My advise to anyone who do not understand about the crypto trading is to be extremely careful on investing or rather stay away from crypto investment. I heard about a bitcoin programmed scheme that I taught was a Legitimate investment opportunity but turned out the other way round, my family and I invested as I was so blindfolded about the negative part this may turn out to be and collectively our loss was about $250,000 when it was time for us to take the profit they refused me from doing so rather they keep asking us to invest more.. that was when i realized what i got myself into I taught all money was lost until I met a life savior on a certified crypto site who had helped a lot of people recover there stolen coins, I explained my situation to him and he assured me he’ll help me get my money back, I gave it a try and he definitely did a great job, all my money was recovered back into my wallet account in few days, I don’t really know how he got this done but this is really awesome! I’m writing this to informed anyone who had similar issue to contact this expert via mail/ RamsayMacDonald @ Consultant. Com / I must say that i’m happy right now, cause I luckily escape this trolls online looking for who to render broke Financially.
Elizabeth Ruth • Sep 23, 2022 at 4:59 am
My advise to anyone who do not understand about the crypto trading is to be extremely careful on investing or rather stay away from crypto investment. I heard about a bitcoin programmed scheme that I taught was a Legitimate investment opportunity but turned out the other way round, my family and I invested as I was so blindfolded about the negative part this may turn out to be and collectively our loss was about $250,000 when it was time for us to take the profit they refused me from doing so rather they keep asking us to invest more.. that was when i realized what i got myself into I taught all money was lost until I met a life savior on a certified crypto site who had helped a lot of people recover there stolen coins, I explained my situation to him and he assured me he’ll help me get my money back, I gave it a try and he definitely did a great job, all my money was recovered back into my wallet account in few days, I don’t really know how he got this done but this is really awesome! I’m writing this to informed anyone who had similar issue to contact this expert via mail/ RamsayMacDonald @ Consultant. Com / I must say that i’m happy right now, cause I luckily escape this trolls online looking for who to render broke Financially.
Jan Fitzpatrick • May 11, 2022 at 9:47 am
There’s this creative way of how they come with their craft of ripping people off. They clone so many things, they make their own website or instagram profile looks like the real one, you will never know the difference if you dont check well. The instagram profile I lost my money to deactivate after that so there was no way to talk to them, luckily assetsrepo dot com traces the blockchain and they were able to get back about 65%of what I lost within 2 weeks. I think there are just too many ways they come at people so its almost like you cant escape it.