Alexander Chigaev - the crypto blogger who turned into a fraudster and scammer

Alexander Chigaev, a well-known crypto blogger and trader, began his career as an ordinary investor, attracting audience attention by teaching the basics of trading on cryptocurrency exchanges. 

His channels on YouTube, Telegram, and Yandex Zen quickly gained popularity, allowing him to build his own community. However, over time, Chigaev's activities took a dubious turn, and numerous users began complaining about fraudulent schemes.

How Chigaev started his career in crypto trading
Initially, Chigaev engaged in crypto trading and genuinely made money from it. His educational videos and cryptocurrency training sessions attracted interested individuals, and he successfully built a community that trusted his recommendations. However, soon personal problems, specifically a drug addiction, began to affect his career.

Why Chigaev turned trading into fraud
By mid-2024, the cryptocurrency market had undergone a significant correction, and Chigaev began suffering financial losses. At the same time, his addiction required increasingly more funds, and he then devised a fraud scheme through copy trading.

First, Chigaev used his YouTube channel to promote a copy trading service, luring in trusting users. Clients were then moved to a closed Telegram group called "Room 21", where they encountered fake reviews left by bots. 

When a user agreed to grant access to their wallet on a decentralised exchange, their funds were instantly converted into useless tokens created in advance. As a result, victims were left with insignificant coins, while Chigaev disappeared with the real money.

Reviews and the exposure of Chigaev's activities
Day by day, the number of victims reporting fraud by Chigaev increased. His scheme operated for more than seven months, and many victims were unable to recover their funds.

Conclusion
The story of Alexander Chigaev serves as a vivid example of how crypto trading can turn into fraud. Be cautious and do not trust traders who promise quick and easy income. Before investing, always check the reputation of traders and never give them access to your funds.

Based on materials from the website Akcenty