No, this is a scam that’s going around on Instagram and other social media sites. It’s hard to believe people fall for this obvious scam but people do. It’s sometimes called the Money Pak Scam.
You will find a variety of pictures on Instagram that claim you can turn a small investment of $100, $200, $300, $400 or more into sums of $1,000 $2,000, $3,000 and so on using a simple hack or by exploiting a quirk in the monetary system .
They may even provide so called “text proof” that the Money Flip Works. It’s not exclusive to Instagram and has seen on Facebook. The scam goes a bit like this.
The scammers claim that they use special software to hack into the servers of Western Union, Green Dot, or MoneyGram and then they manipulate the amount of money in their computer system. They will then ask for a few minutes to “hack into the system” and flip the money you invested.
One such message read:
I am Debby from Abuja Nigeria. I work at Western Union and money gram flip cash Investment tip (Flip cash) is the process whereby the amount you flip is multiplied by 3 through the process of crypto currency. If you invest with us 30% we be yours while 30% we be mine and the 40% we be for the investment company.
For example if you flip(10k) it will be multiplied to 100k, 30k will be yours and 30k will be mine and 40k will be for the investment company….. for more information contact the management on this No +2347057440973or message me on whatsapp.
Thanks for your cooperation
What they ask you to do is send money through Western Union, Green Dot, or MoneyGram. Right there you need to stop. You cannot just manufacture money out of nothing.
If you send money throough any of these money transfer companies and don’t notify them before they pick up your money, you’re out of luck. They will then take your money and claim they will flip it and make more, then they will just block you and delete all of your comments trying to warn people about this scam.
As one commenter put it below “Wire transfer companies don’t manufacture money out of thin air. Even if it were possible to modify the amount of the transfer (it isn’t, there are too many safeguards), it would be a crime!. People who fall for this and then call the transfer company asking for help are basically saying, ‘Hello, I tried to defraud you and it didn’t work, will you give me back my money?’
If you were scammed or came close to being scammed by money flipping please comment below: