Are there Bitcoin scams on Instagram?

Recently, criminals have been luring in victims with bitcoin scams. According to reports to the ITRC, scammers create posts on Instagram about bitcoin investments to attract other users. Once someone clicks on the link, their money is gone, and their Instagram credentials are compromised.

Was a popular Instagram account hacked in a crypto investment scam?

(Image courtesy of Tumisu/Pixabay) A popular Instagram account with nearly 20,000 followers has been engaging in a crypto investment scam that involved the hijacking of accounts and bilked unknown amounts of money out of the Meta platform's users, a Snopes investigation has found.

Are Instagram account takeovers a scam?

Since October 2021, the Identity Theft Resource Center (ITRC) has seen a sharp rise in victims of Instagram account takeovers. Recently, criminals have been luring in victims with bitcoin scams. According to reports to the ITRC, scammers create posts on Instagram about bitcoin investments to attract other users.