Topic: Fiat to crypto scam still existing always (Read 235 times)

A friend of mine just received a fake email that's copying Coinbase. He first did is to check his Coinbase account to verify if the email is truthful since the domain is much really likely as the official. And then he confirms that there was nothing wrong with his account and that no other information that's sent to him officially. Just as he did, when someone here receives these threatening and scaring emails from the exchanges that we use, it's better to check the actual website and your account first. And another tip is never to click those attached links that they've got because that's surely the fishiest thing that's part of this scam.

You must always be watchful when dealing with people because there are scammers everywhere who want to scam you if get any kind of chance. The email from the exchange was to aware of that kind of scam from their users, no matter how old the scamming technique is, it will work on people who are new to this space.

It is better to be cautious because scammers always do find a way to scam innocent people.

Scammer just keeps on thinking about ideas every now and then, and newbies and old crypto traders who are little careless sometimes fall victim of this.
When Crypto was recently Ban in my country and the rate of P2P usage increase so was scammers becoming very active, back then their most used strategy was asking there seller to release coin first before they can proceed with payment to be sure that after payment the seller won't delay the release. It's sounds silly but most newbies became victim of it especially those who are new to the crypto world and are not security conscious enough.

It's fantastic that you're releasing this information to safeguard individuals who trade fiat and crypto directly, participate in peer-to-peer transactions on decentralized exchanges, and trade fiat-to-crypto on centralized exchanges. While dealing in any form of trade, especially cryptocurrency trading, it is critical to be watchful and cautious. Scammers are always devising new methods to steal people's money, so it's critical to be aware of the risks and take the necessary safeguards.

You are correct in stating that P2P trading should not be utilized for fiat-to-crypto trade on custodial exchanges. It is critical to grasp the distinction between P2P trading and trading on centralized exchanges, as well as the hazards connected with each. The email from Huobi Global serves as a timely warning that frauds still exist in the cryptocurrency world and that it is critical to always check transactions before releasing any bitcoin from escrow. Checking your bank app or entering into your bank account via a web browser to confirm payment is a sensible method to protect yourself against scammers.

Therefore, it's critical to keep aware and educated about the dangers and opportunities connected with cryptocurrency trading, as well as to take adequate precautions to avoid scams and fraud.

The old-school scam never get outdated. Even if scammers are even more smarter that they devise new ways of scamming everyday. Those traditional ways of scamming still remain, but I am surprised at how people still fall for them.
Although I have been faced with such situations for many time. What the scammers do is that they always been to manipulate one's emotion before surfacing with the scam.
They would use the traditional method and they will first manipulate your emotion, if you are not strong you will fall for the scam

The best way to succeed is to treat anyone you don't know in person as a scammer until they prove otherwise to you.

I am also part of the seller in P2P and I always warn the buyer to pay in an account that is already available for further processing. Even if the buyer wants to cheat by not releasing the asset he wants to exchange, it will be a problem with the Exchange platform, it will be followed up and it is possible that the account will be banned and asset retention will occur. Exchange already has a system that will protect buyers and sellers so that no one will be harmed. But so far when I do P2P all orders go smoothly and none of the buyers intend to cheat, maybe it's just because of some bank disturbances that slow down payments.

I don't know if any forum members have fallen for this scam. But the forum still has a lot of new people joining every day, and many people won't see this warning, so getting scammed is normal. Newbies are often very subjective and often don't listen to anyone's advice until they lose money.

As everyone has said, this type of scam is not too new, but like forums, the market always has hundreds and millions of newbies joining every day, and scammers know it. The target of these scammers will be newbies, and subjective people, so this type of scam will never go away, and there are always people who fall into the trap.

This can't happen to someone who is a member on this forum because it is a old trick that has been discussed so many times, I think this is why the Bitcointalk forum existed in the first place, to guide people and share information fast among crypto adopters, I pity people outside this forum because they will always learn after they fall victim, this is why seeking for knowledge on your own is the best practice.

Lucky enough for those of us who join this forum, so many filters that we get and many sources that we can browse to see the truth. I can't imagine how people outside the forum who only hear about this scam from the news are and trapped deep in it, because if you only rely on reading I don't think it will be optimal either, because there is no discussion and place to ask directly.

Say for those who are outside the forum, knowing this kind of fraud only from the news, but there are not many sources that they can learn to understand the pattern of the fraud, while we can continue in a more in-depth discussion, So that our understanding and knowledge increases, this is another advantage for those of us who join Bitcointalk.

Greed and shallow understanding will bring people to a downward stage so that they are more easily deceived by any concept developed by scammers and that is the importance of science to fortify them.

The sad part is that, first, this kind of old scam modus is happening until today. Lessons are probably never learned. Second, a very simple step to verify is all that you need to avoid this, and yet some are still falling for it. Trust shouldn't be placed above verification. If you trust, at least verify first. Third, even in centralized platforms where there's users screening and KYC is compulsory to be able to trade P2P, this kind of scam is still present. I wonder how that's possible.

The new war equipment used by scammers is like a marketing strategy used by companies to promote their products. Tricks like this may still claim many victims outside the forum due to the lack of prevention as in the forum. Reading not only adds insight and knowledge, but can save yourself from scammers. Greedy people who are lazy to learn very often get caught up in tricks done by scammers even though the methods used are commonly known to many people.

Using faked document as proof of payment is one of most common scam methods from scammers. They use this method not only with bank transfer payment but in other types of payment like giftcards.

With peer-to-peer trading, it is important to choose good trade partner to avoid scam or issue with police, banks etc.

Now what are good trade partners?

They should have an old accounts with good records for: total past successful trades, total trading volume, good trade feedback or reputation. I am sure with you such good trade partners don't provide Too Good To Be True offers because they know what they're doing and they don't give you hooks to scam you.

If you are not greed, you will be able to find good trade partners.

In contrast, if you are too greed, you will look for Too Good To Be True offers and will possibly trade with new users with new accounts. They will scam you with faked payment document or use stolen money illegally to scam you. Even that trade is successful and you receive fiat currency for the trade, later you will have troubles with police and banks.

I always recieved emails regarding deposit and fake links, no matter what they sent you or even tell you first thing don't open, or click the link, this will lead to bigger problems for you:

• steal your information
• Acquire your emails access

so if you really don't have an idea about the message simply delete it like i always do, no need to be curious, step back and ignore it to be 100% safe.

The reason on why this old trick is still being used is because it still works. People still fall on thus kind of scam due to its simplicity and convenience. Like you mentioned, a random page can sugar-coat words and make it appear that they are genuine. With that kind of trick, at least 1-2 persons fall from it, thereby adding a list to the victims caused by these scams.

I do agree with you- with an active group of scam hunters, at least, this forum adds an extra layer of security with these transactions. When it doubt, always search it or ask on the forum if such exchange is genuine or not.

One who falls victim to this scam in the cryptospace is one who is truly void of proper information and really ought to be taking note of not just what is in his or her immediate environment but also, that wich is within there crypto domain. The space is one that has got little trust and more of verification to prove the inevitable.

Fake alert these days happens to be very unlikely as, the third party have got no phone number to be linked with but, using apps to configure an alert with the account details from exchange is still possible. To avoid that, always verify. As much as exchanges encourages a swift transaction, theh also expect of you to verify that you got paid and until you do that, its important you dispute trade and know that, you've done no wrong. Just a step in the process.

Anything is possible, even though it seems to be curbed at some point, it's not... Only that you haven't experienced it personally.
When ever I'm out in any centralized exchange for a P2P, I'm always very careful cus it's actually possible and easier to get scammed than scamming anyone out there since you're selling. They could possibly generate fake payment slips, POF etc... just so they won't get any negative feedback. I quickly switch to my local bank app to confirm any payments before I get my coins released.

Sandra 🧑‍🦰

The scam pattern is not really a new one, but the new people entering the crypto space might not really know about it, I think it's a good idea by enlightening their customers about it and how to avoid it, no matter how easy a scam pattern might look like, people are still falling victim for it.

Whenever am using P2P, I always make sure I check my mobile app whenever I receive money, I don't believe in SMS that I receive, I always check my mobile app to confirm that I received the money and I always make sure I confirm that I received the right amount which am suppose to receive.

If you are having money in your account, immediately the buyer pays, you will notice your account balance have been top up, some people don't really calculate the amount they recieve, when selling sometimes the buyer might endup not making full payments and most people won't notice early.

Unfortunately, good cannot exist these days without the bad tagging along. Somehow, scammers and hackers always find a way to penetrate these crypto sites but it is unsuspecting victims who have not properly understood how to differentiate the real from the fake messages that fall prey.
I have gotten so many scam messages lately and am more concerned about safe guarding myself from falling victim than being debited wrongly. One way to check these messages would be to check contact address, to view the link sources if any, and also read how proper the tenses or sentences were used.

This kind of scam has made things complicated for genuine people, a lot of vendors who don't know the details about this scam, don't even trust people who actually sent money to their account. I've met a vendor that argued, he got the transfer notification, but the amount he received and his available balance doesn't tally with his previous bank balance. Personally, he thought it was a fake bank transfer, just because he hears about it, yet he didn't know that such fake transfer doesn't reflect in any way to his bank account. So, it's now both ways people don't trust bank transfers anymore, they keep checking balance to confirm if the money arrived.

However, its old school and the recent scam, though has been around, is another version of clipboard attack, attackers now found a way to change the QR code of the merchant you want to send money to and insert their own QR code. It's not rampant, yet like the one that involved changing of address, its very dangerous to cryptocurrency users. The best way to avoid such scam is by filtering the kind of apps you download on your device.

This scam might look old school but it is still very much rampant and one can easily get caught by them. A week ago I tried selling off coin through binance P2P and something similar happed. The buyer told me i should pick another bank apart from the one I initially include in my payment method. I did and he said he sent the funds that it was the bank network that is poor but I should release the coins. I almost believed the buyer because mobile transfer to some banks is a big problem at the moment in my country. But a friend insisted I hold on to the coin until the funds land in my account. To cut the story short he didn’t actually send the money after I confirmed from my bank and got my coins stuck on binance. After issuing a report to the binance support he sent the funds and it reflected immediately.

There’s also the fake transfer option which is use, one might receive an alert but the funds won’t reflect on ones account

Yes, I can testify that newbies are still falling for this scam, I use Binance exchange for Fiat to BTC conversion and I have been sent fake alert twice, I don't fall victim because I failed to release funds until the actual amount of money enter my Bank account, those who did this evil act always ask for your mobile number first, they claim they needed your number in case the transfer went through and you aren't available online anymore, but they went ahead to craft a fake alert and send it to your mobile number.

I may take the advice that is coming from an exchange like Huobi but i can never admit or be subjected to using their exchange, most of this scams happening, they also have their own contributions joining in the rate and percentage of it happenings becau a centralized exchange is not safe as well when it comes to using a trusted and reliable means to have your bitcoin or any other cryptocurrency you've got, they are part of the dangers we are talking about here which may sometimes turn into scam when an exchange cease to exist and cart away investors asset with them.

When there's money shown in hand as proof that they earn by the investment schemes they offer for sure there are still many people will get scammed by those scammers the past scam happening is not enough warning because there are still people looking to get rich easily without lifting there hands. That's why we can still see many people got busted by this scammers because they fall for the classic traps they set to those people.

No matter how old school the scam seems when they use it with some sugar-coating words and add some other props, it will be caught others by surprise and think it is a new investment opportunity. Thankfully in this section of the forum, there are always people that are posting new scammers' tricks and that's why members are recommended to always update themselves by reading new topics here.

I've always wondered how scammers still use their old tricks even though it has been so long since they were exposed and busted, I found out that the problem is from the people that are victims themselves because they seem lazy or just don't have time to read scam-prevention topics to save themselves from getting fooled in the future.

This can be good information for those that:

• are trading fiat and crypto directly
• are involved in P2P trades on decentralized exchanges
• are trading fiat-to-crypto on centralized exchanges

What I can use that is similar to this is P2P trading, because we are not talking about decentralized exchanges or trading between one person and another person directly, I will use fiat-to-crypto trading, this is according to some threads I have seen on this forum recently which do not regard trading fiat to crypto on custodial exchanges as P2P trading, and which I think it is true that P2P should not be used for fiat-to-crypto trading on custodial exchanges.

I supposed to create this on scam accusation board, but I guess newbies that have just started to know about P2P trade in cryptocurrencies are the ones that can be often affected and many among them on this forum often visit beginners and help board.

Huobi global sent me this email today and this is it in picture or image:



This is no more new but people can still be scammed like this, I am surprised that I could get such email notification from Huobi global, which only means that this type of scam is still existing and occuring frequently as they talked about it in the email.

Let us say you are the seller, never release bitcoin from escrow unless you have checked your bank app or when you login into your bank account using the web browser and make sure you see the money sent from the buyer, (not when you see message or email notification which can be fake.)