Advertising on Instagram and Scamming on Telegram, Tradenewn Runs Rampant with Fake Trading Package

Investment advertising fraud on social media such as Instagram typically involves fraudulent schemes in which fraudsters create fake investment opportunities to deceive users. They may use sponsored posts, fake profiles, or manipulated content to lure potential victims. Sometimes they also create official social media accounts to create a facade appearing compliant and formal, with the aim of directing traders to their Telegram groups or websites to defraud them.

Tradenewn is such a fraud example. Recently, a trader submitted a complaint against Tradenewn with BrokersView regarding the platform’s deception.

The trader initially saw an advertisement for a Shariah-compliant investment on Instagram. She then clicked on the account to learn more and joined the scammer's Telegram group. She then saw a steady stream of people joining the group and decided that the investment group was trustworthy.

The trader was enticed to give it a try by the group members (scammers) who sent daily messages about their trading profits. She was tempted to deal with the fraudulent platform with an initial capital of RM300, with a corresponding profit of RM30,000 promised by the scammer.

After depositing the amount, the trader was told that a professional trader would help her trade and make a profit. A few hours later, the scammer did inform her that her account had made a profit. However, if she wanted to withdraw the funds, she was required to pay a fee of RM1,500.

The trader eventually transferred half of the withdrawal fee to the scammer and ended up being blocked by the scammer. She attempted to contact the platform again but received no response.

BrokersView Reminds You

Based on the screenshots shared by the trader, both of the following Telegram groups may belong to the scam company Tradenewn, so please be vigilant. It is also worth noting that in the screenshot shown above, the company's Instagram account name is mys_easytoprofit, which is also the name of one of the groups below. The search for mys_easytoprofit on Instagram no longer brings any results, so it's likely that the company has changed its profile since then to continue to lure in new victims.

Tradenewn's Instagram account already has a certain fan base now, the last posting was at the end of September, and there is a high possibility that it will continue to use bogus investment packages to commit fraud.

In addition, Tradenewn's Instagram posts mirror the screenshots shared by the client. The fraudulent platform unscrupulously advertises screenshots of money transfers as well as profit sharing from chat groups. The platform's investment packages that allegedly can realize 100 times the profit are nothing short of fantastical.

If an investment promises unrealistically high returns, it's likely a scam. 

Scammers are good at manipulating people’s psychology. Be wary of ads pressuring you to act quickly. Scammers often use urgency to prevent victims from conducting thorough research.