He Lost Savings, Took Loans — The Investment Scam Trap

14 June 2026 Poland Radar 0 Comments

A Sierpc man lost nearly 77,000 PLN to an investment scam. Learn how the fraud works and how expats in Poland can protect themselves.

A man from Sierpc lost nearly 77,000 PLN after trusting a polished online advertisement for an investment platform, an investment scam that escalated into loans within a month. Consequently his savings vanished and he now faces police procedures and debts.

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How the investment scam worked

He clicked an online ad and filled a short form. Moreover he received a call the same day from a supposed “market expert.” In addition the caller asked him to pay a 1,000 PLN entry fee. Furthermore the fraudsters assigned him a named adviser and pushed a smartphone app. The first small profit appeared on the app. However that profit only served as bait. Therefore he sent larger sums to cash-to-crypto kiosks called bitomats. Consequently the app showed fake portfolio gains and losses. Moreover the fraudsters demanded more money to cover losses. In addition the victim began taking bank loans to fund transfers. He realised the scam a month later when he searched online. Therefore he filed a police report.

Why investigators call this a pig butchering investment scam

Cybersecurity teams call the scheme “pig butchering” because criminals fatten victims with trust. Moreover they build long conversations and a fake relationship first. Furthermore the scammers then push increasing payments over weeks. In addition the fraudsters often use fake celebrity images and company logos. CSIRT KNF blocked thousands of dangerous domains. CERT Polska listed almost 99,000 fake investment sites in 2025. Consequently authorities say the number rose by more than 100 percent from 2024. Moreover online fraud made up 97 percent of incident reports to CERT Polska in 2025.

Why bitomats and recovery scams matter

Scammers instruct victims to use bitomats because crypto transfers are hard to reverse. Therefore money sent via a bitomat often disappears permanently. Moreover real Polish brokers never require cash deposits at kiosks. In addition criminals follow up with a second trick called recovery scam. Consequently they contact victims again, this time posing as law firms or recovery agencies. Furthermore they ask for an upfront fee to “recover” funds. However that fee only fuels the original theft.

💡 GOOD TO KNOW: If you live in Poland, know how local systems work. For example, KNF is the Financial Supervision Authority (Komisja Nadzoru Finansowego) that registers legal brokers. ZUS handles social security, and NFZ runs public health insurance. PESEL is your national ID number. Therefore always check a platform on knf.gov.pl before you send any funds. Moreover no legitimate broker will ask you to use a bitomat. In addition if you lose money, report to the police and call your bank to block transfers. Also submit a report at cert.pl/zglos so CERT Polska can block the scam domain. Furthermore watch for recovery-scam calls promising refunds for an upfront fee, and do not pay them.

Victims in Warsaw see more ads because the city has a high density of online investors. However the threat reaches small towns, too. Therefore both locals and expats must treat unsolicited investment offers with suspicion. Moreover ask for written contracts and check registrations. In addition keep bank hotlines and local police numbers handy.

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