Thousands of people are believed to have lost their savings after investing in a cryptocurrency trading app called iEarn Bot.

Experts who have investigated the company say it could be one of the largest crypto scandals to date. Trading in cryptocurrencies has become popular, with people often promising large rewards over short periods.

But law enforcement agencies warn of a growing number of scams and recommend investors conduct “due diligence”. Customers buying the bots – like Roxana – were told their investment would be handled by the company’s artificial intelligence program, guaranteeing high returns.

“Some people started to say ‘I cannot withdraw… what is happening’,” explains Roxana. “I requested to withdraw and the money just disappeared. The portfolio became zero – but I was never credited on my wallet with any money.”

In Romania, dozens of high-profile figures, including government officials and academics, were persuaded to invest via the app because it was sponsored by Gabriel Garais, a leading IT expert in the country.