There’s a scam going around that’s still going strong, and it’s catching a lot of people off guard. If you’re involved in crypto or even just curious, this is something you need to know about. It’s slick, it’s sophisticated, and it’s designed to drain your wallet while making you think you’re on the verge of a financial windfall.
Let’s break down how this scam operates and the key red flags to watch out for so you don’t fall into the same trap.
The Set-Up: How They Lure You In
It all starts with something simple—maybe you respond to an ad about crypto, or you randomly get added to a WhatsApp or Telegram group that promises expert advice on cryptocurrency trading. The people in the group seem knowledgeable, professional, and eager to share their insights. You’re introduced to a “professor”—a so-called expert who gives you daily updates on crypto markets, trading signals, and even helps you set up crypto wallets.
The professor always has a charming assistant (think names like “Alice” or “Janey”) who’s always available to answer questions privately. It feels professional. It feels legit.
But here’s the thing: It’s a scam.
The Early Wins: Building Trust
The first stage of the scam is all about building your trust. You’ll make some small investments and—surprise!—you start making money. They’ll even let you withdraw a small amount at first, making you believe that this is a real opportunity to grow your wealth.
One Reddit user shared a similar experience where they were able to withdraw small amounts early on. But don’t let those small wins fool you—it’s all part of the plan.
The scammers want you to think this is the real deal. So, they reel you in slowly, showing you big profits, encouraging you to invest more, and convincing you to stick with their platform.
The Fake Platform: Where It All Goes Wrong
Here’s where the trap tightens.
The professor and assistant will guide you to a specific platform to make your investments. In this case, it was a site called KPRcoins.com, but it could be any name—Babylonreport, for example, was used by other scammers. The platform will look polished, professional, and trustworthy. But it’s fake.
You’ll invest in coins they recommend, and everything will look great—until it doesn’t. These scammers often use fake coins or manipulate existing ones, creating trends and signals that make you think you’re making huge gains. But when you try to withdraw a significant amount, they’ll block you.
One Redditor who fell for this scam shared that they invested heavily and ended up losing $40,000 when they couldn’t withdraw their funds.
The Pressure: Emotional Manipulation at Its Finest
Scammers are master manipulators. They don’t just want your money—they want you emotionally invested.
As you continue to make profitable trades, you’ll be pushed to invest even more. The assistant will reach out to you personally, encouraging you to “take advantage” of the next big opportunity. They’ll create a sense of urgency, making you feel like you’re missing out if you don’t keep upping your investment.
And if you lose money on a trade? The assistant might even get angry. One victim shared that when they lost money outside of the scam’s recommended coin set, the assistant acted as if it was her own money on the line.
But here’s the kicker: half the people in the group aren’t even real. They’re bots, programmed to share fake success stories and to praise the professor, urging you to invest more. The conversations are AI-generated, designed to keep you emotionally hooked and make the whole operation look legitimate.
The VIP Trap: Where They Really Cash In
Once they’ve got you deep enough, the professor and assistant will start talking about a VIP group for “serious investors.” They’ll claim the regular group is going to be disbanded and that only the top investors will be invited to stay.
This is where they make their final play. You’re already emotionally invested, so the thought of moving up to this exclusive group sounds enticing. They’ll push you to make one last big investment.
And then?
They disappear. Your money is gone. The platform vanishes, the group chat goes silent, and any attempts to contact the professor or assistant are blocked.
Red Flags: What to Watch Out For
If you take anything away from this, it’s this: run the moment you see these red flags. Here’s what to watch for:
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Random group invites – Whether it’s WhatsApp, Telegram, or any other platform, if you get added to a group out of nowhere, especially one involving crypto, be extremely cautious.
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The professor and assistant setup – This is textbook scam behavior. Whenever you see a “professor” and an assistant promising huge returns, run the other way. This scam has been going on for years, and they just swap out names and platforms.
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Fake coins and platforms – Be very skeptical of any platform that isn’t well-known. Always check the age of the website. If it’s brand new, and they’re claiming it’s been around for years, that’s a massive red flag.
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Bots and AI conversations – If the group members all sound like they’re repeating the same phrases or overly praising the professor, you’re probably dealing with bots. This is how scammers create an illusion of success.
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Pressure to invest more – If you’re being pressured to increase your investment or join an exclusive “VIP group,” that’s a sign that they’re getting ready to disappear with your money.
How to Protect Yourself
- Don’t engage with these people at all: The moment you’re invited to a crypto group or approached by a “professor” and their assistant, disengage immediately. Block the number, leave the group, and report it if possible. There’s no upside to sticking around, even just to “check it out”—this is how they get you. Scammers are experts at manipulation, and the safest course is not to engage at all. Run at the first red flag.
Final Thoughts
Crypto scams like this are incredibly sophisticated. They prey on people’s desire to make quick profits, building trust through small wins and emotionally charged conversations. But once you’re hooked, they’ll bleed you dry.
Remember: If you see a professor and an assistant offering crypto advice, RUN.
Scammers are getting smarter, but with the right knowledge, you can stay one step ahead. Stay vigilant, do your research, and never invest more than you’re willing to lose.
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