A Sydney father, referred to as Leo for privacy, fell victim to an investment scam after encountering a paid advertisement for PrimeUPartner on Instagram. In September, he invested $77,521, believing he was engaging in legitimate high-yield opportunities in cryptocurrency and stocks. By December, he was misled into thinking his investment had ballooned to $200,000. However, when Leo attempted to withdraw his funds, he was told he needed to pay additional fees. Upon investigation, he discovered that the entire platform was fraudulent. Leo reported the scam to NSW Police, who confirmed they were investigating the case. Former detective Blair Joynson, who has extensive experience in fraud investigations, noted that such scams often originate from social media and employ tactics that make victims feel secure before defrauding them. A report from the National Anti-Scam Centre revealed that investment scams had caused Australians significant financial harm, with losses totaling $837.7 million in 2025. The Australian Securities and Investments Commission (ASIC) has taken steps to combat these scams, including removing over 1,100 fraudulent advertisements from social media. Leo's experience serves as a cautionary tale about the risks of seeking financial advice through social media platforms.