How to avoid a bitcoin scam on Instagram?

Then, the victim is locked out of their Instagram account, and the account is used to post more links to fake bitcoin investments. To avoid the bitcoin scam and a hacked Instagram account, never share your Instagram account credentials with anyone else. Protect your account with a strong password and two-factor authentication.

Is Instagram a scam?

More and more often, cybercriminals are using Instagram’s direct messaging feature to send fraudulent links to unsuspecting users. Instagram is the ideal place to perpetuate scams of this sort.

What happens when a victim's 'friend' posts on Instagram about bitcoin?

According to reports to the ITRC, a victim’s “friend” (whose account has been taken over) posts on Instagram 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.

Is there a crypto scam on Instagram in 2020?

luke-van-zyl-Fs1hfkNOGsQ-unsplash The same type of crypto scams that plague Twitter are running rampant on Instagram in 2020. For example, there are more than 1.3 million Instagram posts using #Coinbase, an overwhelming number of which display inauthentic behavior.