Have you come across a friends post on Instagram talking about how they made money on Bitcoin Investment? Do you want to know more about it? Do you want to know if its a scam? You are at the right place. Read this review to find out more about Bitcoin Instagram Scam.
What is Bitcoin Scam?
The Instagram Bitcoin Scam is a scam used by scammers to defraud people and the main target are instagram users.
The scam usually starts with a direct message or post on Instagram, seemingly from a friend, in an Instagram DM. In the message or posts on Instagram they talk about how much money they make while investing in Bitcoin. Once the victim shows interest, they are asked to make a video saying how much money they made. Then they are asked to hand over tjeir Instagram credentials and send money so they can also be part of the investment. However, they get locked out of their account, and their contact information is changed. The scammer then uses the compromised account to start posting about the bitcoin scam.. But that is the scam, once you give out your credntials you can kiss goodbye to your Instagram Account.
Once you log in, the scammers would have total access to your password and account, they would then send those messages to your friends, and so the circle continues. They send these same messages to your friends and if they fall, their accounts get hacked too.
Conclusion
To be on the safer side, Social media Users should be wary of clicking on links and inputting their passwords online except it is an official page. As part of the bitcoin scam, scammers are trying to build trust with victims, talking about how much money you could make. While scammers can be persuasive, passwords, PINS, codes or any other type of sensitive information should never be shared with anyone. Do not click on links as this is the fastest and easiest way to get your account hacked, Use a strong Password too, and once you notice you have clicked on any suspicious websites, quickly go to your settings and change your password to a stronger one. It is also important to turn on two-factor authentication in your settings for added security.
I hope this helps!
