A 30-year-old crypto trader in Belarus is accused of using investor funds for gambling. Allegedly, he lost over 1 million Belarusian rubles ($293,387) of investor money this way. The trader reportedly posed as a crypto expert, using Telegram to attract victims. A criminal case has been filed against him for substantial fraud. The investigation continues as the Investigative Committee searches for more victims, with 10 individuals already coming forward.
The first victim, a 37-year-old woman, met him online in 2024 and discovered the project was a scam. Initially faithful to his word, he persuaded her to invest more to recover her money, unknowingly fueling his gambling. Facing growing debts and unable to repay, he approached another person online, convincing a 26-year-old to invest with the promise of returns with interest. He admitted hoping to win at the casino to repay investors. He scammed at least 10 people using this cycle—convincing investments for crypto, then using funds for gambling or debts, followed by finding another victim. His girlfriend even took a car loan to help repay some debts. Authorities revealed he had only one successful investment throughout this period.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com