Don't get exit scammed | Bitcointalksearch.org

smyslov

sr. member

Activity: 2030

Merit: 269

Quote from: FireBallex on June 16, 2020, 11:41:50 AM

You are talking about exit scamming on some one you are doing a p2p trade with, exit scam are of different type and the most common one is projects team vanishing with investors money or new crypto exchanges that run away with traders funds

Yes, you are right the most notorious of these are these ICO's they can easily do exit scam and there are so many ways to do it, we have so many of this, so only invest what you can afford to lose, there is no guaranty on new coins now, they only live on hype so always check if the coin is a hype, this is the new normal in Cryptocurrency.

FireBallex

member

Activity: 462

Merit: 19

You are talking about exit scamming on some one you are doing a p2p trade with, exit scam are of different type and the most common one is projects team vanishing with investors money or new crypto exchanges that run away with traders funds

Stedsm

legendary

Activity: 3052

Merit: 1273

I believe you need to be aware of the risks that take place when you try to go for OTC trades and make someone hold your coins and other end' money as well. Trusting an escrow is a very hard task and I don't know why people go for IRL escrows when they can just visit an exchange and get their deal done. There are some exchanges which don't even ask you to go for KYC till a certain amount in trading has been reached. I mean, yes we have some highly reputed escrows on Bitcointalk but does it mean that we may find such good people outside the forum as well?

asianguy845

member

Activity: 175

Merit: 14

Quote from: raymondavid1 on June 15, 2020, 03:54:29 PM

I one got scammed off $40+. The owner of the scam group also acts as the middle man. And I think he used bots to make it seem as if there are other participants in the group. I have had various scam histories, but now I sell my tokens using trusted websites like binance and luno..

I'm sorry you got scammed Sad

That's why I posted this thread, in the hopes that some newbies read it and avoid getting scammed (maybe)

raymondavid1

newbie

Activity: 90

Merit: 0

I one got scammed off $40+. The owner of the scam group also acts as the middle man. And I think he used bots to make it seem as if there are other participants in the group. I have had various scam histories, but now I sell my tokens using trusted websites like binance and luno..

NavI_027

full member

Activity: 1232

Merit: 186

IMO, the best way to ensure that you will not getting scammed is by choosing a high ranked member (could be a Hero or Legendary) as a middleman/escrow because there are small tendencies for them to sacrificed their account just for a one time, big time money Grin

(unless we are talking about millions of dollars). Another requirement which you can also look for a trustworthy escrow is their merit and trust rating. The higher they are, the safer your money is

. As simple as that.

libert19

hero member

Activity: 2520

Merit: 952

Quote from: pooya87 on June 14, 2020, 09:37:55 PM

Quote from: asianguy845 on June 14, 2020, 01:53:03 PM

Middlemen are risky in that you must use a highly reputable middleman or the middleman will scam both of you out of the product being bought the money being used to buy the product.

that can only happen if both parties are naive enough to use the middleman aka the escrow in a wrong way!

the correct way of using an escrow (when we are in bitcoin world) is using a multi signature scheme with 3 signers that needs 2 signatures to spend (that would be a 2of3 address). that way neither party can scam alone. the escrow for instance has to get one of the parties to sign the transaction. in other words no one can scam others without collaboration from another party which reduces the risk significantly.

This is the correct way, on forums like tbn/bhw, people often get scammed by middle man. 'trusted' accounts can be compromised.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: asianguy845 on June 14, 2020, 01:53:03 PM

Middlemen are risky in that you must use a highly reputable middleman or the middleman will scam both of you out of the product being bought the money being used to buy the product.

that can only happen if both parties are naive enough to use the middleman aka the escrow in a wrong way!

the correct way of using an escrow (when we are in bitcoin world) is using a multi signature scheme with 3 signers that needs 2 signatures to spend (that would be a 2of3 address). that way neither party can scam alone. the escrow for instance has to get one of the parties to sign the transaction. in other words no one can scam others without collaboration from another party which reduces the risk significantly.

TalkStar

copper member

Activity: 1204

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✅ Need Campaign Manager? TG > @TalkStar675

In bitcointalk there is wide tange of options for anyone to make their trades safer. Trusted escrow service is available where many bitcointalk users are providing great service from their. Its always better to take their escrow service for your fund safety when you are going to buy anything from someone unknown.

Here is the list of escrow providers; ★LIST★ BitcoinTalk's ESCROW Providers: Ranking & Blacklist ☠ Avoid Scam ☠

List of proven scammers here; ★ List of Proven Scammers (Bitcointalk Users Only)★

Findingnemo

hero member

Activity: 2366

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Bitcoin = Financial freedom

Internet is not completely safe which applies to the people who we met online as well. Since we are in bitcointalk lets just talk about it, you have less chance of getting scammed for such smaller amount like $100 when you are trading with a reputed member or using highly reputed escrow the only issue will be if you are going to trust them for thousands of dollar which should be completely avoided if there is a possible way to complete that trade in a safer way.

jossiel

hero member

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DGbet.fun - Crypto Sportsbook

I thought that you are referring to exit scam of exchanges. In p2p trades as long as you're choosing a known escrow for your transactions, there shouldn't be any problem at all.

Quote from: asianguy845 on June 14, 2020, 01:53:03 PM

Another way to prevent being scammed of a big amount is to buy small amounts one at a time. For example, if you're buying $100 bitcoin with PayPal, you can do $25 at a time. You can still get scammed, but it is a smaller amount, and exit scammers are NEVER satisfied with small amounts. They will always go for the big fish.

Hope you all stay safe out there

and don't trust anyone online no matter how reputable they seem.

Isn't that going to take you a lot of fees if the transactions you'll do is for smaller amounts? and why should you worry with that if you can deal with exchanges with such amounts. If your transaction is doable through exchanges, do it there.

asianguy845

member

Activity: 175

Merit: 14

What is exit scamming?
Exit scamming is when a trusted/reputable member of the forum is quitting, and decides to go out with a "bang", or with a scam. This happens frequently on other forums I frequent (I will not name them here) and so it could happen on this one too.
How do I prevent from being exit scammed?
The best method is by using a middleman, which is a person that makes sure that the buyer and seller both have the products they are trading for. Middlemen are risky in that you must use a highly reputable middleman or the middleman will scam both of you out of the product being bought the money being used to buy the product. Middlemen are also sometimes quite expensive, which can be a problem for smaller transactions. A buyer/seller denying a middleman is the biggest sign that they are trying to scam you Grin

Another way to prevent being scammed of a big amount is to buy small amounts one at a time. For example, if you're buying $100 bitcoin with PayPal, you can do $25 at a time. You can still get scammed, but it is a smaller amount, and exit scammers are NEVER satisfied with small amounts. They will always go for the big fish.

Hope you all stay safe out there

and don't trust anyone online no matter how reputable they seem.

Topic: Don't get exit scammed (Read 323 times)