Instagram Bitcoin "Mining" Ponzi Schemes

Who else has been seeing these lately? I have a friend on Instagram who now claims to have made $700k+ in less than a month from an initial investment of <$10k to this @_____forextrader2023 account (not going to share the actual name so I don't send more people into the scam).

I searched the sub and found a couple of similar situations, but this one is on a much bigger scale. The people who are shilling for the account are posting screenshots of profits in the 100's of thousands of dollars, as well as of luxury cars and purchased houses they've gotten from the profits.

Of course, accounts can just be hacked and be posting stolen/edited images, but the friend who shilled for them has also posted actual video content of themself since the shill posts started and replied to me when I messaged. I get the sense that this scam is more like a Ponzi scheme, where accounts with enough followers are actually paid out profits so that they can then lure their followers in with screenshots of lavish profits, then once enough followers send through thousands of dollars, the rug gets pulled and no one profits anymore - mentioned in this article.

Screenshot of a shill who 'made' CA$250,000 with help from this account

Screenshot of a paypal balance of $66k ostensibly from this accounts tips

Another shill who claims to have turned $900 into $10,000 after initially thinking it was a scam but now is a believer and wants others to follow - one of a few shills who claim that the scammer is an expert in Bitcoin mining

The biggest giveaway of course is that you can't be an expert in Bitcoin mining, you just need mining power, there's no magic trick to mining that can turn you a 10x profit in 4 hours... this is all absurd, but most of these shill accounts seem to not be hacked from what I can tell...

Do you think they are actually being paid fake profits to lure in the next layer of scam targets?

Would you take the risk and try to make a quick 10x before the rug pull?! :P