Another story of fraud in the cryptocurrency realm has surfaced online. Popular crypto blogger Alexander Chigaev has found himself at the center of a scandal involving financial manipulations. This was reported by blogger Mobimes, who became a victim of the scam and lost $10,000 in a matter of minutes.

Every year, Ukrainians are becoming increasingly interested in cryptocurrencies and online investments. However, alongside the growing popularity of digital assets, the number of scammers is also on the rise. Alexander Chigaev, well-known in the crypto community, turned out to be one of those who exploit the trust of his followers for personal gain.

How Alexander Chigaev Deceived Investors

Mobimes recounted that he stumbled upon Chigaev's blog about a year ago. He regularly followed his Telegram channel, where the crypto blogger shared analytics and investment strategies. Over time, Chigaev announced the launch of a copy trading program—a scheme where investors hand over funds to a so-called "manager," who then copies the trades of successful traders.

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“The terms seemed reliable: a deposit of $10,000, the money stays on your exchange account, there’s no need to send it anywhere. Chigaev took a commission of 30-40% from the profits. At that time, I didn’t have that kind of money, but the idea intrigued me,” Mobimes recalls.

About a month later, blogger Alexander Chigaev announced that the first wave of copy trading had been successful, and all investors received a 25% profit. He regularly published reports, screenshots of documents, and thanks from participants, which bolstered the audience's trust.

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However, it later became clear that most of the reviews were written by bots. At that time, Mobimes was unaware of this and decided to invest in the tenth batch of the program.

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How Mobimes Lost $10,000

After gathering the necessary amount, the blogger wrote to Chigaev and received instructions for copy trading. He created an account on the exchange, funded his balance, and while briefly stepping away, all his money disappeared.

“I didn’t grant withdrawal rights and checked everything 100 times. But through special software, Chigaev found an illiquid asset, sold me a coin for $10, and then bought it back for $5. Thus, my entire deposit vanished in just two minutes,” the victim recounts.

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After that, Alexander Chigaev blocked him on all social networks, deleted their correspondence, and vanished. It turned out to be impossible to recover the funds.

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Warning: Crypto Scammers Have Become More Active

Unfortunately, such schemes are not uncommon. Scammers create the illusion of successful projects using fake reviews and documents. They promise quick profits, but in the end, investors lose all their money.

Mobimes hopes that his story will serve as a warning to others:

“I couldn’t explain to myself how I fell for this. I didn’t verify everything 1000 times. I didn’t doubt the honesty. I made an incredible mistake. But there’s nothing that can be done now. This was the most expensive lesson of my life at a huge cost. I really hope that my story helps at least one person avoid such a mistake. Remember, there can be many Chigaevs, under different names.”

If you have encountered similar schemes or lost money due to scammers, do not stay silent. Report it to the authorities and warn other users. Vigilance and common sense are the best defenses against fraudsters.