Pretends to be an investment group
Investment group chat and ad scam
Is an investing group chat or social media ad promising big returns a scam?
Usually yes. Fake experts push apps with fake profits, then ask for fees. Check any firm on Investor.gov before sending money.
Almost always fake. Stop, then check by calling a number you already have.
Also searched as: WhatsApp investment group, Telegram trading group, stock club, trading app, Facebook investment ad
Draft: we're still checking this page. The quotes below are word for word from their sources.
What to do
On the phone right now?
- Stop. Hang up or close the message. Don't tap anything.
- Check. Call a number you already have, like the one on your card or bill.
- Talk to someone you trust before you pay anyone.
If anyone is in danger right now, call 911.
If you already paid
- Call the company you paid through right away: your bank, card company, gift card company, or the wire or Zelle service. Ask them to stop or reverse the payment.
- Call the Justice Department's National Elder Fraud Hotline at 1-833-372-8311, Monday to Friday, 10 a.m. to 6 p.m. Eastern.
- Report it at ReportFraud.ftc.gov. If it happened online, report it at IC3.gov too.
General information, not legal or financial advice. If you've lost money, contact your bank and report it.
How it works
1 They reach you by
- Social media
- Website
- Text message
2 They pretend to be
- Investment expert
- Police or government
3 They ask for
- Money
- Crypto
- Wire or Zelle
- Cash or gold by courier
- Personal details
- Control of your computer
- Secrecy
- Tap a link
What it can look like
Example pattern, not a real message
Pretends to be an investment group. What gives it away:
- A courier picks up cash
- Pay with crypto
- Keep it a secret
What they may say
“great investment opportunity”
“they’ve made lots of money investing in Bitcoin or another cryptocurrency”
Warning signs
- They send someone to your home to pick up cash or gold. Real agencies and banks do not collect money that way.
- They want payment in cryptocurrency, or tell you to use a Bitcoin machine. That money is very hard to get back.
- They tell you not to tell your family or your bank. That keeps you from getting help.
- They ask you to install an app so they can see or control your computer or phone.
- They push you to send a wire transfer or Zelle payment. That money is very hard to get back.
- They contacted you, then ask for your Social Security, Medicare or bank numbers.
- They want you to use their link or their phone number. Look up the real website or number yourself.
- They say you must pay right now or something bad will happen. Real organizations give you time to check.
Why we say this
Scammers Using SEC Exempt Reporting Adviser (ERA) Filings to Look Legitimate – Investor Alert
Fake investment firms use real SEC filings and fake 'certificates' to look official. They claim to be 'registered' with the SEC. This is untrue, and this type of firm cannot advise individual investors. These scams often ask for upfront fees.
An ERA legally cannot provide investment advice directly to you, as an individual.
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ERAs are not registered with the SEC and the SEC does not issue any type of certificates to ERAs (or registered advisers), but they are subject to certain SEC reporting, recordkeeping, and other obligations.
Beware of any claims or implications that the SEC has sponsored, recommended, or approved of an ERA, or that the adviser’s abilities or qualifications have been evaluated by the SEC.
The SEC also alleges that certain defendants were marketed on websites and some of the websites displayed a fake certificate indicating that the entity was registered with the SEC, even though it was not.
Do not trust any individual or firm that claims to be an ERA and directs you to a filing or website as evidence of SEC registration.
If individuals or firms falsely claim they are registered with the SEC, do not trade with them, do not give them money, do not transfer crypto assets to them, and do not share your personal information with them.
Attorney General Bonta Warns Californians of Investment Scams on Facebook, Instagram, and WhatsApp
Scammers run fake investment ads on Facebook and Instagram, often with deepfake videos of famous people. They move victims to WhatsApp or Telegram. Victims first see fake profits, then are told to pay fees to take money out. The money is never returned.
Scammers are increasingly using deceptive advertisements (ads) and deepfake technology to lure people into high-stakes scams in order to then defraud them of their savings.
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Once a user clicks the ad, they are pressured to move the conversation to WhatsApp or other encrypted platforms such as Telegram.
Once the victims seek to withdraw their profits, they are told they need to pay some kind of fee, such as a commission or tax, to do so.
Reputable broker-dealers and investment advisors typically do not advertise their investment strategies on social media.
**Promises of guaranteed returns**: No legitimate investment is “risk-free” or offers a guaranteed return.
**Verify friends**: If a friend suddenly messages you about a "great investment opportunity," contact them outside of Facebook via phone call or text to ensure their account hasn't been hacked.
Group Chats as a Gateway to Investment Scams -- Investor Alert
Scammers add people to investing group chats, often after a social media ad. A fake 'expert' or 'professor' pushes a trading app that shows fake profits. When you try to take money out, they ask for fees or say your account is frozen.
Be wary of any group chat where you receive investment advice from someone you don’t know – this is often how investment scams begin.
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Your account may show “profits.” But when you try to withdraw the “profits,” fraudsters may demand a fee, tax, or deposit to release the funds.
Or fraudsters may falsely tell you that the SEC or another government agency has frozen (or is about to freeze) your account and direct you to pay money to unfreeze the account (or withdraw your funds before the freeze).
After you pay the purported fee, tax, or deposit, the fraudsters likely will stop answering your messages and cut off contact.
Be highly suspicious if you are instructed to pay for an investment using cash, especially if someone comes to your home to pick up cash. Do not invest with anyone who tells you to lie to your bank about why you are withdrawing money.
Fraudsters often promise high guaranteed investment returns, but there is no such thing.
Verify that you are communicating with an investment professional and not an imposter.
SEC Impersonators May Lure Investors Into Scams Through Social Media or Text Messages -- Investor Alert
Scammers pretend to be the SEC or its staff in social media posts and texts. They use real seals, links, and names. They may push stock tips, ask for fees, or offer to get your lost money back.
The SEC’s Office of Investor Education and Assistance (OIEA) warns that fraudsters may impersonate the SEC -- or SEC officials or employees -- on social media or in text messages to solicit you for scams.
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Fraudsters may also use personal information they obtain to steal your identity or misappropriate your financial assets.
SEC impersonators may make posts or send messages that include the SEC’s seal, a link to the SEC’s actual website, or the name or photo of an actual SEC official.
If you learn of investing opportunities from social media, be on the lookout for fraud.
Unexpected messages on social media about investing are almost always scams
Older Americans aged 60 and over reported losing more than $1 billion to investment scams in 2025, according to the FTC. The article says these scams often start with a friendly social media message, an unexpected investment tip, or an online chat that seems harmless.
A scammer might, for example, send you a message on Facebook, LinkedIn, or WhatsApp offering a chance to invest in cryptocurrency.
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If you reply, the scammer will say they’ve made lots of money investing in Bitcoin or another cryptocurrency.
The investment website they steer you to will look real, but it’s really fake, and so are their promises.