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Instagram Influencer Jay Mazini Involved in $2.5 Million Bitcoin Scam

The glory days of famous Instagram influencer Jegara Igbara, better known as “Jay Manzini,” seem to be counted, as he was accused by U.S. law enforcement of being the mastermind behind a million-dollar Bitcoin scam scheme.
Jay Manzini was known for his Instagram videos giving away large amounts of money to strangers. Three of his most popular videos involved a massive cash giveaway at a supermarket and collaborations with rapper 50cent and reggaeton singer Nicky Jam to give away money to employees working at a fast-food restaurant.

Jay Mazini is the real deal, he saw me in the hood yesterday so we went tonight and showed everybody some love. pic.twitter.com/4UgvMWFLTk
— 50cent (@50cent) September 9, 2020
How The Nice Instagram Got Involved in a $2.5 Million Bitcoin Scam
However, it wasn’t all good intentions in Jay Manzini’s life. The well-known influencer started posting ads on his Instagram stories, claiming he was buying Bitcoins at premiums of 5% over market value.
But why use Instagram instead of a P2P platform like Localbitcoins and exchange like Binance or Coinbase? His excuse, presumably, is that he wanted to buy large amounts, and the exchanges wouldn’t let him.
Jay Manzini with a paper sign offering to buy Bitcoin.And although there are OTC desks expressly dedicated to this type of business, Jay Manzini’s excuses generated little suspicion, and his followers ventured to do business with him.
After agreeing on prices and payment methods, Mazzini would send his followers images and …
Story continues on Crypto Potato

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