Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. The fake Zelenskiy account reached 20,000 followers on Telegram before it was shut down, a remedial action that experts say is all too rare. It is unclear who runs the account, although Russia's official Ministry of Foreign Affairs Twitter account promoted the Telegram channel on Saturday and claimed it was operated by "a group of experts & journalists." Artem Kliuchnikov and his family fled Ukraine just days before the Russian invasion.
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