Fake traders scam people in Uzbekistan with promises of 25x returns in one hour

"If you give me UZS 1 million, I’ll multiply it to UZS 25 million in one hour" – this promise has caught the eye of many on social media. Hundreds of people even post videos claiming it’s true, boasting that they’ve turned their money into massive profits. Is it really possible to multiply money this way? Yes, but only for the scammer posing as a trader. This article explores the deceptive schemes targeting naive individuals and the fake traders behind them.

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Scammers resurge on social media

In recent days, fraudsters masquerading as traders have become increasingly active on social media. They lure people with promises of multiplying their money twentyfold in just one hour. To fall for such lies, one would need to be naive enough to believe that a goose could actually lay golden eggs if you rub it the right way. Unfortunately, the existence of such gullible individuals, combined with the lack of swift action from law enforcement, fuels these fraudulent schemes.

The money "machine"

The Telegram group "Uzbekistan investuz" is one such fraudulent operation. Established on April 21, 2025, with over 43,000 members, the group has been active for three months. Individuals posing as traders promise to multiply people’s money through various "tariff" plans, deceiving hundreds in the process.

We engaged in a conversation with one of these fake traders, posing as a client. The individual claimed to multiply money through stock trading on global markets, particularly Forex, and asserted they held a license for these services. "I’ve been trading on global markets, especially Forex, for years. Recently, my team developed a program with artificial intelligence. It can multiply your investment up to twenty times in as little as 60 minutes," they said.

In reality, these claims expose the trader’s deceit. Those without sufficient knowledge of Forex, stock markets, or artificial intelligence are particularly vulnerable to this scam.

Three steps and a block

The scam unfolds in three steps. First, "clients" are offered five tariff plans ranging from UZS 300,000 to UZS 1.5 million. For example, someone paying 1 million UZS is promised a return of up to UZS 30 million within an hour. Hearing such promises, naive individuals quickly select a tariff and agree to participate.

In the second step, the scammer provides a bank card number for the money transfer. These cards are typically opened in someone else’s name for a small fee of $100–200. Once the specified amount is transferred, the scammer instructs the client to wait briefly. After 10–15 minutes, they announce a "big win."

The final step involves demanding a commission fee. "Congratulations, dear client. You’ve won a large sum. Please provide your card number to receive the payout, but only after the commission fee is paid," the scammer says. This is akin to hooking the same fish twice. For instance, a win of UZS 25.693 million might require a commission of UZS 1.284 million.

Believing their money has multiplied, the victim, already ensnared by the scammer’s rhetoric, faces a dilemma: abandon the initial investment or pay the commission in hopes of securing the payout. Most choose to trust the scammer and pay the fee, only to be blocked immediately afterward – the final trap.

"It’s trustworthy"

The "Uzbekistan investuz" group hosts over 700 short videos, all recorded by citizens from various regions of Uzbekistan in selfie format. In these videos, individuals claim the group is reliable, that they’ve made significant profits, and that they’ve received their payouts.

For example, one person said: "I’ve been working with them for a week, and it’s honest and legitimate. I’m thrilled. I’m on my way to withdraw my money now. Plus, I’ve secured a house in my name in Syrdarya province after paying a 30% initial deposit. In another ten days, I’ll complete all payments and move in – I’ll post a video about that too. Today, $1,500 was credited to my card. I started with a UZS 300,000 investment, and now I’ve earned $1,500. I plan to keep working with them."

Another claimed to have turned UZS 400,000 into UZS 16 million: "I deposited UZS 400,000, and I won big – UZS 16 million. I didn’t expect it, but it was credited to my card. I didn’t believe it at first, but it’s legitimate. Everyone should try it."

These videos feature teachers, drivers, students, young people, salespeople, and others from various professions. Have they truly multiplied their money? No. In reality, these individuals are victims of the scam. The scammer, as part of the scheme, requests victims to record videos claiming the platform is trustworthy and that payouts have been received. These videos are then used to deceive others.

Naivety should have its limits

The scam is strikingly simple, requiring an extraordinary level of naivety to fall for it – one might call such a person a "born victim." Yet, despite the scheme’s simplicity, hundreds, if not thousands, are deceived. To avoid falling for it, one need only ask: If UZS 1 million can be turned into UZS 25 million in an hour, why doesn’t the trader do it themselves and get rich? Why share such an opportunity with others?

To those who fall for these schemes and other financial pyramids, a word of advice: naivety should have its limits.

"Unrestrained" crimes

The "Uzbekistan investuz" group has been active for three months, posting new videos daily, indicating that people are falling for the scam every day. Yet, law enforcement has not taken swift action to shut down the group, identify the fraudsters, or apprehend them.

Dozens of similar groups and channels operate on social media. A year ago, Kun.uz published an investigation into similar scams. As long as such crimes go "unrestrained," victims will continue to emerge.

Kun.uz urges citizens to remain vigilant and avoid falling for such lies and fraudulent schemes.