Crypto with all its recent popularity and praise still sometimes sees the bad light of press, due to being misunderstood or tarnished by fraudsters who use fake aliases to scam hard working individuals out of their money. That is what happened to Chiranjeevi, a tech consultant within India.
Young Chiranjeevi, reportedly fell under one of the largest scams to have taken place online. Using distorted reporting from the BBC itself, Chiranjeevi was taken advantage of, with all his life savings which came to a whopping $4,000. Being one of the most stressful moments of his life, he felt compelled to contact the BBC, so that they were to be made aware of the fraud surrounding their video content and reporting.
While not many fraudulent activities are reported within the world of crypto, there are some cases where individuals are conned out of their money when being led to believe an individual will trade on their behalf. Many sites are moving towards using the digitalised system and ledger, yet it is of vital importance that individuals who seek to use digital content like online casinos, gambling and so on, go to trusted resources that are security backed and regulated. Bet and Skill have online casino free bets that can be supported with a crypto wallet, however, they make sure to follow the correct safety procedures, checks and regulations to ensure their online community is a safe one.
The scam in which Chiranjeevi was unfortunately tangled up in, was via Telegram, on a channel named B2C Mining. Within that group, encrypted messages were sent by a company that claimed to be involved in crypto mining within the region of Russia. The top of the channel used a fundamental and popular report from the BBC that was manipulated and altered to suit the agenda of the fraudulent company. Utilising the heavily edited video, the company sought to claim the evidence as their own, conning multiple people beyond the likes of Chiranjeevi.
Chiranjeevi really believed that the report was genuine, due to it including heavy reports of data, and believable statistics-with the stamping of the BBC kept intact. Chiranjeevi trusted the source, due to having seen the BBC all throughout his childhood on broadcasting. Other false sources included customers who had allegedly provided testimonials on the services of the company, making Chiranjeevi believe all the more that the company can be trusted with the life savings that he worked so hard for.
The claim from the company was that, for those who invested by request, would be given back amazing profits, in addition to 24 hours of mining that would make an additional 20-40% profit on top of what has already been invested. The group having over 3000 members, would convince even the most suspicious of minds, due to the manipulation of data and resources being so believable.
Enticing Chiranjeevi with just $160 as his first investment, he was promised cryptocurrency returned within 24 hours. And it did. Just 24 hours later, Chiranjeevi received interest in his investment, leading him to believe it was all real and good-to-go. However, that was the biggest mistake made. The belief of easy money through just a small investment, appealed to Chiranjeevi in the form of trust. This then convinced him that it was safe enough to send over the complete $4000 savings he had, and unfortunately there was no response back on any investments he should have made. The dream he was led to believe was unattainable. Falling into the trap which is believed to have caught so many.
It was then later revealed after Chiranjeevi came forward, that this Telegram app was utilising the name and good reputation of B2C Mining. All names and aliases were false. Having monitored and watched for quite some time within the real Telegram of B2C, the scammers took it upon themselves to create their own venture in exact light and behave as an alias. The real identity of the owner of this company, Vladimir Paevskiy, was stolen, and used to con so many others on the platform.
Vladimir Paevskiy later made a public press release via his social media accounts to call out all the non-genuine frauds and scams that have been run in his name. Claiming his identity has been stolen, he later revealed the proper procedures and administrative process that are done by his company, warning others not to fall in the trap of so many. Chiranjeevi amongst others have unfortunately not been able to retrieve their money, making it even more vital for so many to ensure they are using trusted services, should they wish to invest in crypto mining.
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