Scam Type
Investment Scam
Business Name Used
Crypto/Investment Scam – Instagram Solicitation
Date Reported
November 10, 2023
Postal Code
24018
Total Dollars Lost
$ 4700
Scam Description
I was contacted on Instagram about a Bitcoin trading opportunity. I was first contacted by Chiara May. She stated I could open up a trade account for as little as $500 and start trading as many trades as I wanted without charge. The trades showed success and within 6 days my investment had shown profits of around 10K. I then asked how to withdraw my profits. She then referred me to Lisa Reginald who supposedly handled the pay outs. Lisa stated I had to pay a fee of $2500 to be able to withdraw my money. Once I paid the fee then I could withdraw my profits, her words excatly. The fee went into my account, and I started earning money. Within 4 days I had a profit of $37K. I told Lisa I wanted to withdraw my profits. Lisa told me I would have to pay $3,000 to upgrade my account. Once I paid for the upgrade my profits would be transferred into my bitcoin wallet. I have paid $1500 of the $3000. I started doing some more research and found out many people had gone through similar transactions and never received their money. Doing more research on the company I can find very little info or reviews and I’m not even sure if it is a legit company. All of my transactions with the company have been through Cashapp to individuals, Jon Ky and Monica Chelelgo. If anyone knows about InstaFX Prime Trade and if it is a legit company, I would like to know. I have only found one review and it was in 2022. I hope I can find more but I feel this is a scam and I have lost 4,700 plus the 37K made on my trades.
