Yes it is true, it seems very stupid and too good to be true but somehow people wanna try their luck and some are just credulous. In my case, I was once a victim of a scam because I fully trust my close cousin that he will not betray me but blood is not always thicker than water. At first, he persuaded me to invest just a small amount because I was skeptical. Initially it was good, my money grow and he always assure me that this investment is legit, showed me some evidence and it was pretty convincing so I invested more. Then one day, he was gone and all my money. I managed to contact him and he said it was a scam, there were lots of complaint filed against that company but the odds of getting our money back is so slim. Lesson learned.

When someone message me through telegram and convinced me to invest, I automatically blocked it as I don't wanna fall again into the scammer trap.