Jay Mazini is a popular Instagram influencer whose net worth is predicted around $35 million. He has been arrested by the police recently. According to sources, the influencer, also known as Jibara Igbara, has been using his huge follower list to commit cybercrimes and cryptocurrency frauds. Legal authorities have told the media that Igbara was offering to purchase Bitcoin from his followers by offering them 5% higher prices. He has been busy posting videos where he would tell people that crypto exchanges have limited his buying spree.
Due to this technical limitation, he was trying to look for better buyers and lure them in with higher price marks than the traditional markets. Some of the users approached him for conducting the sales, but Jay allegedly did not keep his end of the bargain. At the same time, a criminal case has also been launched against the Instagram influencer simultaneously. At the same time, the court claims that Jay has committed $2.5 million worth of fraud. Some news tabloids claim that Jay has stolen about $80 million from his Muslim followers.
Since last year, the number of crypto scams has increased drastically. However, most of the crypto scams are conducted by celebrity impersonators, not the actual influencer themselves. Both criminal and civil cases on Mazini are still open. There is a huge possibility that the criminal case could be connected to the alleged crypto scam. The media is reporting that Jay kidnapped, gagged, and tortured one of his rivals to intimidate him. He also told the victim not to contact the police, or he would be killed.
Meanwhile, in the civilian court, Jay has been charged with asking for Bitcoin from his followers and never paying them back. The investors claim that they contacted Jay after watching his videos posted on Instagram. Jay also sent them a fake document containing details about the transfer of money. However, in reality, the senders of Bitcoins never got the money.
How to Stay Safe from Crypto Scams on Social Media
The FBI has urged people to report any type of crypto scams under all circumstances. The users should also do their research first and read about the reviews and fraud-related news before dealing with a new influencer or crypto exchange account. In this manner, they would be able to know about any suspicious activity or bad actors. The users would also benefit by making sure to report the crime and allowing the law enforcement agencies to gain more information for catching the culprits. Mazini also runs an academy for teaching trading and providing information about cryptocurrency. The joining fee for the academy is $250.