Jay Magini posted a video of giving out a huge amount of cash as a gift on Instagram and attracted 1 million followers.
According to CoinMarketCap, a cryptocurrency exchange on the 25th (local time), an Instagram influencer named Jay Mazini was accused of committing a $2.5 million bitcoin scam against followers. He says he is being accused of internet banking fraud.
His real name is Jegara Igbara, Jay Magini, who uploaded a video about distributing a large amount of cash as a gift, and it attracted 1 million followers.
However, the U.S. Department of Justice has revealed that there is another aspect to Magini’s online activities. Investigators believe that since major cryptocurrency exchanges were limiting his purchases, he would often have tempted offers from his followers to buy bitcoins at a high price.
The victims sent the cryptocurrency to him, and even received documents proving that the transfer was made, but the money from Management was not deposited into their account.
FBI’s William Sweeney said, “As we argue, Ibara’s social media fascinating persona has been an incentive for victims to trust their bitcoins to inflate at prices.
“But you have to look inside, not persona,” he said. “Ibara has never been charitable when it comes to bitcoin transactions with his victims. A quick search of the internet now makes this multi-million dollar scammer It will reveal a completely different aspect of the world,” he warned.
The U.S. officials are urging consumers to continue to be cautious about cryptocurrency fraud through the case, and urged that all those who may have been victims should directly cooperate with the investigation.
Meanwhile, the Instagram account owned by Jay Majini is now deleted. If convicted, the 25-year-old man could face up to 20 years in prison.