Quick Cash Led to a Miner Losing $125,000, Which Was Stolen from His Father
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A 20-year-old resident of Minsk has fallen victim to a financial scam through a social media advertisement promising quick earnings. The young man, who borrowed the money from his father, was lured by a "curator" who explained the trading rules and provided instructions on investing.
The incident was reported by the Ministry of Internal Affairs. The young man transferred the money to a virtual account under the guidance of the "curator," but his attempts to withdraw the supposedly earned funds were unsuccessful due to the scammers' actions. Despite the promises made by the scammers, the young man received no profits.
The scammers stopped responding, leading the investor to realize he had been scammed. The young man's travels to another country were a result of his efforts to cash out the funds, but his attempts were ultimately unsuccessful.
Financial scams through social media, promising quick earnings, are on the rise. In July 2025, Singapore alone reported over 550 investment scam cases resulting in losses exceeding S$23 million, with many victims lured by fake investment ads on social media platforms. In the U.S., surveys indicate that about 73% of adults have experienced one or more online scams, including those originating from social media ads offering fast financial gains.
These scams often use social engineering tactics to manipulate victims into providing confidential information or transferring funds. Scammers may impersonate trusted entities or create false emergency narratives to coerce victims, such as claiming account compromise or government investigations.
Victims seeking to recover lost funds can take several steps. Reporting the scam promptly to the bank or financial institution can help freeze or reverse transactions if possible. Reporting the scam to government agencies like the Federal Trade Commission (FTC) or relevant consumer protection bodies in your country can aid investigations and potentially trigger reimbursements or legal actions.
Informing social media platforms about fraudulent ads or accounts can help reduce their reach and may provide some assistance in identifying perpetrators. Monitoring and securing accounts by changing passwords, enabling two-factor authentication, and watching for suspicious activity on related accounts is also important. Seeking legal or professional advice may be necessary to navigate recovery options, including specialized fraud recovery services.
While recovery of lost funds is challenging, early reporting and swift action improve the chances. Authorities encourage public education to reduce victimization in the first place, as scams continue rising globally with social media as a key vector. A criminal case for fraud has been initiated by investigators in the young man's case.
[1] "Singapore reports 550 investment scam cases in July, losses exceed S$23 million." Channel NewsAsia, 2 Aug 2025. https://www.channelnewsasia.com/singapore/investment-scams-july-losses-23-million-2513848
[2] "What to do if you've been scammed." Federal Trade Commission, 2022. https://www.consumer.ftc.gov/articles/0497-what-do-if-youve-been-scammed
[3] "Social engineering: The human factor in cyber attacks." Cybersecurity Ventures, 2020. https://cybersecurityventures.com/cybersecurity-insights/social-engineering-the-human-factor-in-cyber-attacks/
[4] "Online scams: How to recognise and avoid them." U.S. Securities and Exchange Commission, 2022. https://www.investor.gov/introduction/investing-basics/protecting-your-investments/online-scams
[5] "Younger adults more likely to fall for scams, research shows." BBC News, 15 Mar 2022. https://www.bbc.com/news/business-57341725
- Personal-finance scams, such as those using social media platforms to promise quick earnings, have become increasingly common, as evidenced by the 550 investment scam cases reported in Singapore alone in July 2025, resulting in losses exceeding S$23 million.
- In light of the rise in general-news stories about financial scams, it is crucial for individuals to secure their personal-finance accounts, report scams to relevant authorities, and educate themselves on how to recognize and avoid such scams.
