Soumya Prakash Pradhan

In today's world, technology is rapidly advancing, with many people using smartphones and social media.

Unfortunately, scammers take advantage of this by targeting individuals through social media ads, leading to scams and financial losses.

These ads often promise quick and easy money-making schemes, claiming expertise in trading or investing.

They ask for a small initial investment and promise significant returns in a short period. Scammers design these ads to look convincing, sometimes even featuring fake payment proofs.

They also collaborate with influencers who endorse their schemes, further convincing their followers to join.

The scam begins with the scammer explaining their scheme, promising exponential returns on investments within 30 minutes. They claim to invest the money in cryptocurrencies and assure profits within a short time frame.

To make their scam appear legitimate, scammers create fake social media accounts, often using pictures of women. They fabricate payment proofs and testimonials to deceive potential victims.

Once someone falls for the scam and invests, the scammer asks for additional fees under various pretexts, such as processing or transfer charges. They may even ask for personal identification details.

When someone realises they are being scammed and confronts the scammer about not sending processing fees for a payment, the scammer often deletes the chat and blocks the person. This is how scammers steal hard-earned money.

How can you stay safe from this type of scam and protect your earnings?

To avoid falling victim to such scams:

  1. Don't be lured by promises of quick and easy money. Always question schemes that offer unusually high returns on small investments. 
  2. Be cautious of influencers promoting investment schemes, as they may be benefiting financially from endorsing scams.
  3. Remember, there is no easy way to make money quickly. If something seems too good to be true, it probably is.
  4. Report suspicious ads on social media platforms to help prevent others from falling victim to scams.
  5. Never share personal details or send money to anyone online without verifying their legitimacy.

Spread awareness about these scams to protect yourself and others from falling prey to fraudulent schemes.

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