Scam Alerts · Guide
Added to a Telegram, WhatsApp or Discord investment group? What to do first
Scammers add people to “trading” group chats full of fake success stories, then send them to a fake platform. If you’ve sent money, the first hour matters most. This page puts those steps first, then explains how the scam works, what the FBI, FTC, SEC and FINRA say, and where to report it.
Last checked against the sources below on Oct. 2, 2026. Figures are for 2025 and early 2026.
Already sent money? Do this now
If you’ve only been added to a group and haven’t paid anything, skip to the red flags and leave the group.
- Stop sending money, and don’t pay any “fee.” The FBI’s 2025 report says victims who try to withdraw are told they owe taxes and fees, and then the scammers disappear. FBI IC3 2025 report. Anyone who asks for money up front to get your money back is running a second scam. FTC.
- Keep your records before you leave the group or delete anything. Screenshots of the chat, the usernames, the name of the trading site or app, wallet addresses, transaction IDs, dates and amounts. This is our suggestion, not an agency rule; you will want them for the reports below.
- Call the bank, card issuer or payment company that moved the money, now. The FTC’s steps: for a credit card, tell the issuer (use the number on the back of your card) and ask for a refund; for a debit card or bank transfer, contact your bank or credit union right away and ask them to reverse the payment; for a wire transfer, tell the wire company a scammer tricked you and ask for a refund. FTC: What to do if you were scammed.
- If you paid in cryptocurrency, contact the exchange you sent it from immediately. The FTC says to tell them it was a fraudulent transaction and ask them to reverse it. Be realistic: the FTC also says cryptocurrency payments “typically are not reversible,” and you can usually only get the money back if the person you paid sends it back. FTC.
What to say (sample wording): “I was tricked into sending cryptocurrency to a fraudulent investment platform. Here are the date, the amount, the receiving wallet address and the transaction ID. Please treat this as a fraud report, tell me whether you can reverse or flag it, and tell me what else you need from me.”
- Report it. File at ReportFraud.ftc.gov and at ic3.gov (the FBI asks investors who suspect investment fraud to report to IC3 as soon as possible. FBI). More places are listed in Where to report. No agency promises you will get the money back, but reports are how cases get built.
- Don’t hire or pay anyone who contacts you offering to recover the money. The FBI’s report says victims are targeted again in “recovery” scams, and the FTC says never to pay up front for help getting a refund. More in recovery scams.
- Secure anything you shared. If you gave out a password, a one-time code or a photo of an ID, change the password, turn on two-step sign-in and tell the company the code or ID belongs to. This is our suggestion, not an agency rule.
This is general information, not legal or financial advice. If you are in danger or being threatened, call 911.
How the “signals” scam works
Officials describe a few overlapping schemes: “investment club” scams, “ramp-and-dump” stock fraud and the fake-platform scam often called “pig butchering.” The group chat is the part that builds trust. Here is the usual order, with who says so.
- You’re pulled in. It can start with an ad, a text or a social-media message that moves quickly to a messaging app where you’re introduced to “investment groups.” FBI IC3 2025 report. FINRA says some people are simply added to encrypted group chats with no prior contact. FINRA.
- The room looks full. A “professional” posts market commentary, an “assistant” invites you to private messages, and members post winnings. The FBI says some of the members “may be bots or fake accounts.” FBI. FINRA says scammers also impersonate real, registered professionals. FINRA.
- You’re sent to a platform. A trading site or app you haven’t heard of takes your deposit, often in cryptocurrency. In one federal case, the SEC says fraudsters posed as financial professionals in WhatsApp groups and sent victims to a platform on which no transactions took place. SEC. In a separate, pending case, the SEC alleges the platforms were fake and no real trading occurred (these are allegations, not findings). SEC.
- The dashboard shows profit. The FTC describes the playbook: fake profits on screen and, sometimes, a chance to withdraw a small amount. FTC. The FBI adds that victims are shown fake profits and offered loans to encourage larger investments. FBI IC3 2025 report.
- Then the fee wall. When you try to take out the real money, you’re told to pay taxes or fees, and then the people behind it disappear. FBI IC3 2025 report.
The stock version. In “ramp-and-dump” fraud, the FBI says the group pushes members toward low-priced stocks, and the FBI has seen at least a 300 percent increase in complaints that mention it between 2024 and mid-2025. FINRA describes the same pattern: investors are unable to sell and the price crashes. FBI, FINRA.
How big is it? The FTC says people reported losing $2.1 billion to scams that started on social media in 2025, about eight times the 2020 figure, and that $1.1 billion of it was investment scams. FTC Data Spotlight. The FBI’s 2025 report puts cryptocurrency investment fraud at $7.2 billion, its highest-loss category. FBI IC3. These are reported losses; the true totals are not known. The FTC’s numbers do not break out Telegram or Discord.
Red flags
Any one of these is reason to stop. Each comes from an agency, not from us.
- You were added without asking. FINRA lists tips from unknown people in encrypted group chats as a red flag. FINRA
- A stranger tells you what to buy. The FTC’s rule: never let someone you met on social media direct your investment decisions. FTC consumer alert
- Big or guaranteed profits. The FTC says investment scams often promise you can “make lots of money” with “zero risk.” The CFTC warns against promises of guaranteed returns and cites claims of 100% to 1,000% profits. FTC, CFTC
- Pressure to act now. The FBI lists pressure to act quickly based on a supposed market-moving event. FBI
- Lots of praise and profit screenshots. The FBI says members may be bots or fake accounts, and the CFTC lists fake testimonials. FBI, CFTC
- A famous name. FINRA lists claims of affiliation with well-known public figures, deepfake videos of professionals, and impersonation of real professionals. FINRA
- A platform you’ve never heard of that wants crypto. The FBI says victims are directed to fake platforms and shown fake profits you can’t check independently. FBI IC3 2025 report
- You must pay to withdraw. Taxes, fees, “verification” payments. FBI IC3 2025 report
- Someone offers to get your money back. FTC
- Someone asks for personal information or access to your accounts. The FBI says to treat that as a red flag. FBI
If you were added to a group, FINRA’s advice is to adjust the privacy settings in your messaging apps so people who aren’t in your contacts can’t add you to groups. FINRA. Your app’s settings menu has the current option.
Check any investment group yourself
We don’t review or name individual groups, handles or people (see our standards). You can check the claims yourself with the official tools:
- Is the person or firm registered? Look them up on FINRA’s BrokerCheck (brokers and brokerage firms) and the SEC’s Investment Adviser Public Disclosure site (investment advisers). Your state securities regulator can also tell you.
- For crypto or futures trading: the CFTC says to check registration at cftc.gov/check. CFTC
- Search the name of the platform or “adviser” plus “scam” or “complaint.” The FTC suggests this. FTC consumer alert
- Verify the person, not just the name. Scammers impersonate real professionals, so a real name on BrokerCheck doesn’t prove the person messaging you is that person. Contact the firm using the phone number on its official listing, not one from the chat. FINRA
- Don’t use links or phone numbers the chat gives you to check on an account or an agency. The CFTC says to go to the official website yourself. CFTC
A group that isn’t on these lists isn’t proven to be a scam, and a registered name isn’t proof of safety. If you’re unsure, don’t send money. If you want us to look at a pattern you’ve seen, email tips@undercurrentdaily.com. We can’t recover money or give individual advice, and we don’t publish names of people who haven’t been convicted.
If you already sent money: recovery scams
The FBI’s 2025 report says victims are targeted again in “recovery” scams. The FTC’s rule is simple: never pay up front for a refund or for help getting one, and anyone who asks for an upfront fee is a scammer. FTC.
- Real help to reverse a payment comes from your bank, card issuer, payment company or exchange, and it doesn’t cost a “release fee.”
- Be wary of anyone who contacts you after a loss, including “law firms,” “tracing” services or someone in the same group chat. This is our caution, not a finding about any one group.
- The FTC says you can report these schemes at ReportFraud.ftc.gov or to your state attorney general. FTC
Where to report
Report even if the amount is small, or you’re not sure it was fraud. Reports are how agencies see patterns.
| Where | What for |
|---|---|
| ReportFraud.ftc.gov (FTC) | Any scam, including investment scams that began on social media or a messaging app. |
| ic3.gov (FBI Internet Crime Complaint Center) | Internet-enabled fraud, including cryptocurrency investment fraud and ramp-and-dump complaints. The FBI asks for these reports. FBI |
| sec.gov/tcr (SEC) | Tips about securities fraud. |
| cftc.gov/complaint (CFTC) | Fraud involving futures, leveraged or commodity-style trading. CFTC |
| FINRA tip line | Someone posing as a registered broker or firm. FINRA also points to local police and the FBI for criminal activity. FINRA |
| Your state attorney general or state securities regulator | State-level complaints. The FTC also lists the state attorney general for recovery-scam reports. |
| The app itself | Report the group inside the app; the CFTC’s advisory says to report groups to the platforms. Save your records first. Telegram’s FAQ covers reporting. Check WhatsApp’s and Discord’s help centers for their current steps. A platform report does not recover money. |
Real cases that were resolved
We name people only after a criminal conviction, and name only the company in civil cases. Most operators behind these schemes are never reached, and these are the ones that were.
Daren Li: 20 years (fugitive)
The Justice Department says Li pleaded guilty on Nov. 12, 2024, to conspiracy to commit money laundering and was sentenced on Feb. 9, 2026, to 20 years in prison. It says the conspiracy laundered over $73 million stolen from American victims who were contacted through unsolicited social-media interactions, calls, messages and dating services, then directed to sites that looked like real trading platforms. DOJ also says Li is a fugitive after cutting off his ankle monitor in December 2025. Justice Department
Fei Liao: 40 months
The U.S. Attorney’s Office for the Eastern District of Texas says Liao pleaded guilty to conspiracy to commit money laundering in a cryptocurrency investment scam and was sentenced to 40 months on Feb. 19, 2026, with more than $2.3 million to be forfeited and more than $2.8 million in restitution. U.S. Attorney’s Office
NanoBit Limited: final judgment (civil)
This was a civil case, so we name only the company. The SEC says fraudsters posed as financial professionals in WhatsApp groups to win investors’ confidence, then sent them to deposit money on the NanoBit crypto platform, where no transactions took place; participants moved over $2 million to Hong Kong. On June 16, 2026, the court ordered NanoBit Limited to pay $532,649 in disgorgement, $81,957 in prejudgment interest and a $1,182,251 penalty. SEC
Scam Center Strike Force (April 23, 2026)
The Justice Department announced the seizure of 503 scam-platform domains and the restraint of about $701.96 million in cryptocurrency it says was allegedly involved, and said it was the first seizure of a Telegram channel, used to recruit trafficked workers. These are allegations; nobody is named here. Justice Department
Not resolved, so not described: the SEC’s December 2025 case against alleged “investment club” platforms is still pending, and the court has not ruled.
Share this with someone
If you know someone who’s been added to a group like this, send them this page or the message below. No one needs to have lost money for it to help.
Sources
Agency and court pages first. Every claim above links to the page it comes from.
- FTC: What To Do if You Were Scammed Primary recordconsumer.ftc.gov/articles/what-do-if-you-were-scammed
- FTC: What To Know About Cryptocurrency and Scams Primary recordconsumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams
- FTC: Refund and Recovery Scams Primary recordconsumer.ftc.gov/articles/refund-and-recovery-scams
- FTC Data Spotlight (April 2026): reported losses to scams that start on social media Primary recordftc.gov/news-events/data-visualizations/data-spotlight/2026/04/reported-losses-scams-social-media-eight-times-higher-2020
- FTC consumer alert (April 2026): how to spot the top scams that start on social media Primary recordconsumer.ftc.gov/consumer-alerts/2026/04/how-spot-top-scams-started-social-media
- FBI IC3 Public Service Announcement I-070325 (July 2025): ramp-and-dump stock fraud Primary recordic3.gov/PSA/2025/PSA250703
- FBI IC3 2025 Annual Report Primary recordic3.gov/AnnualReport/Reports/2025_IC3Report.pdf
- FINRA Investor Insights: investment group imposter scams (Dec. 9, 2025) Reportingfinra.org/investors/insights/investment-group-imposter-scams
- CFTC advisory: messaging apps and fraud Primary recordcftc.gov/LearnAndProtect/AdvisoriesAndArticles/MessagingApps.html
- SEC press release 2025-144: charges against purported crypto trading platforms and investment clubs (allegations; case pending) Primary recordsec.gov/newsroom/press-releases/2025-144-sec-charges-three-purported-crypto-asset-trading-platforms-four-investment-clubs-scheme-targeted
- SEC litigation release LR-26576: SEC v. NanoBit Limited, et al. Primary recordsec.gov/enforcement-litigation/litigation-releases/lr-26576
- Justice Department: man sentenced to 20 years for role in $73 million cryptocurrency investment scam Primary recordjustice.gov/opa/pr/man-sentenced-20-years-prison-role-73-million-global-cryptocurrency-investment-scam
- U.S. Attorney’s Office, E.D. Texas: sentencing in a cryptocurrency investment scam laundering case Primary recordjustice.gov/usao-edtx/pr/chinese-national-sentenced-role-pig-butchering-scheme
- Justice Department: Scam Center Strike Force actions (April 23, 2026) Primary recordjustice.gov/opa/pr/scam-center-strike-force-takes-major-actions-against-southeast-asian-scam-centers-targeting
- Telegram FAQ (reporting) Reportingtelegram.org/faq
Updates to this page
- : first published. Facts checked at the agency pages above. We change this page when agencies publish new figures or the cases above change, and note each change here. See our corrections policy.
For older adults and their families: KeepUp Academy scam alerts. KeepUp Academy is a sister project from the team behind Undercurrent.
Spot an error? Email corrections@undercurrentdaily.com. Example chats and numbers in our videos are recreated; no real names, links or handles are shown.