Analysis of a successful scheme and a warning for traders
The last year has shown that the creativity of scammers in the world of finance has no limits. One such scammer from the UK built an entire empire using the X platform (formerly Twitter) and fake PNL (profit and loss) screenshots from a demo account on Bybit. The fraudulent scheme brought him more than $650,000, and over 250 users suffered.
The Perfect Trap in the Expanse of X
Let's start with the fact that the scammer understood the psychology of his victims perfectly. He didn't just present himself as a successful trader - he became a "professional" in manipulating public opinion. By publishing screenshots from a demo account that looked too good to be true, he positioned himself as a person who knows how to make money in conditions of market volatility.
The irony of the situation is that most people intuitively understand: 1000% in a month on a crypto exchange is a fantasy. But the victims gave in. Why? Because the fraudster was not just a trader, but a talented marketer who skillfully used the principles of social proof and cleverly fit his content into the information space.
Manipulation via news account
This Brit also understood the power of the information background. He created a fake news account on X, where he posted articles and news about cryptocurrencies, markets, and the successes of famous traders. The whole idea was to create trust in the account among the audience - like, if the news comes from here, then it is a verified source.
By publishing articles about the ups and downs of the markets, about new trends in trading, he laid the foundations for his scheme. Sooner or later, his “recommendations” to subscribe to paid signals or trading courses would appear among the news. And as soon as the victims paid for the “services”, the fraudster’s account would immediately block them.
Why did it work?
At first glance, the scheme seems simple and primitive. But there are several key elements that allowed the scammer to deceive so many people.
1. Emotional Game. People often make financial decisions based on emotion rather than logic. In an uncertain market where most people are losing money, seeing a trader who “always wins” can make you want to act immediately without checking the information.
2. Social proof. Screenshots that allegedly proved the trader's success were accompanied by reviews from other users. Of course, these users were also fakes, but visually everything looked plausible.
3. Fear of Missing Out (FOMO) - The scammer masterfully used FOMO to make people believe that if they don't join now, they will miss out on their chance to get rich.
4. Playing with the news. A news account added legitimacy. When you see familiar news headlines and verified information, it’s easier to believe that recommendations from that source are valuable.
This case is a perfect example of how scammers use modern technology and psychological manipulation. If something looks too good to be true, it probably is. No trader, no matter how successful, can guarantee 1000% profit in a short period of time.
In the world of trading, there should always be “red flags”. If someone promises easy money using demo accounts and fake news accounts, this is a clear sign of a scam.
It is important to remember that real success in trading is built on knowledge, experience and caution. Always check the information before transferring money for signals or courses. And if you see that you are asked to pay something in advance without a guarantee - it is better to refuse.
