How the Scam Works

Scammers on Instagram are pretending to Blockstream traders and direct-messaging cryptocurrency users through the platform.

The scammers appear to be offering services related to trading. Usernames used by these scammers include Stacy Neal, Ivan, and Paula Olsen (although there are likely a lot more).

While we do not know exactly how this scam operates, it is likely that these impostors will eventually start requesting investments (that you would never get back).

The Real Blockstream

Blockstream is a technology company that specializes in Bitcoin-related software and hardware.

We do not have any professional traders employed at Blockstream and will never reach out to anyone through social media to offer trading services or to solicit investments.

To find out more about our services, go to the official Blockstream site.

How to Report the Scam

If you have encountered the scam described above, send us the details on our Report a Scam form.

Unfortunately, we are not able to help you with resolving any disputes or recovering any funds, but your report will help us identify high-risk scams, alert the community, and report them to the relevant authorities.

We also recommend that you take these additional measures:

• Submit an international scam report to econsumer.gov, an initiative of the International Consumer Protection and Enforcement Network (ICPEN).
• Instagram: Report the scam though either the Instagram app or their online form.