Here’s the backstory…
Jegara Igbara, aka Jay Mazini, is a popular Instagram figure when it comes to giveaways. He is known to give huge sums of money to strangers. In the course of his charity work, Manzini has had collaborations with rapper 50 Cent and reggaeton singer Nicky Jam to give away money to employees working at a fast-food restaurant.
Sadly, beyond his giveaways, the influencer appears to have had other intentions. Amid the Bitcoin boom, Mazini began posting ads on his Instagram stories with an offer to buy Bitcoins at premiums of 5% above market value. According to him, he wanted large amounts and crypto exchanges wouldn’t allow him to buy.
While this raised a lot of red flags because there are P2P platforms like Localbitcoins, some of his followers decided to do business with him. They would send him Bitcoins after he had sent images of payment.
The supposed fiat payments were all doctored images and the money was never received. According to the U.S. Department of Justice, Jay Mazini relied on the trust he had built as a popular influencer to scam unsuspecting victims. The government agency wrote:
The lesson here is simple. All that glitters is not gold.
Crypto-related scams are on the rise. According to data from the eNational Fraud Intelligence Bureau, the number of crypto-related has doubled since last year. Meanwhile, the number of victims within the same period has almost tripled.
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Source: Cryptocurrency - investing.com
