Topic: Scams on Localbitcoins (Read 6291 times)
Ive done literally al my trading of bitcoin on localbitcoins, when i say trading i mean buying since ive never sold one. Obviously with buying them ive never had a problem but it would be a bit of a concern to sell any just incase someone decided they wanted to do a payment reversal.
What's the best alternative for big traders?
I have seen many local bitcoin buyers for giving cash on meetups, in the range of £150,000
So for example, I want to sell 1000 bitcoins per week. Is the most safest way via meetup?
How would the person for example hand me £250k in real cash for that amount of bitcoins? And what if that cash is fake, is my worries?
I have seen many local bitcoin buyers for giving cash on meetups, in the range of £150,000
So for example, I want to sell 1000 bitcoins per week. Is the most safest way via meetup?
How would the person for example hand me £250k in real cash for that amount of bitcoins? And what if that cash is fake, is my worries?
There are many buy bitcoin ads with bitstamp price +5%. The payment types are U.S. bank deposit/transfer. Most of the buyers are marked as PRO trader with 100% positive feedback. The offers sound very attractive. Are they scam?
Localbitcoins or bitstamp Just do review about the trader before you start to trade with him. 100% positive and more than 500+ trading done by the person means We can choose them and we should not release the bitcoins as it is. Once He confirm the transaction then you have release the bitcoins.
so theres no way that you cant get scammed on localbitcoins then?
use trusted escrow will prevent it, maybe you can use one of bitcointalk escrow in conjuction with localbitcoin
but there is 100% safe platform anyway if you are asking for this...
so theres no way that you cant get scammed on localbitcoins then?
Where ever there's a will there's a way. Nothing is safe.
LocalBitcoins
In person selling is great.
Online selling is awful. I get hammered all day with scam attempts.
I haven't figured out the rules with Western Union.
Can a transaction be reversed once it says "on location"
I've been waiting until I have cash in hand to release coins. But, do I have to do this?
Daily trips are annoying - and I'd like to go once a week and get all the payments.
But, I don't want legitimate buyers to wait.
Any other sellers have some insight?
In person selling is great.
Online selling is awful. I get hammered all day with scam attempts.
I haven't figured out the rules with Western Union.
Can a transaction be reversed once it says "on location"
I've been waiting until I have cash in hand to release coins. But, do I have to do this?
Daily trips are annoying - and I'd like to go once a week and get all the payments.
But, I don't want legitimate buyers to wait.
Any other sellers have some insight?
My biggest fear on localbitcoins is that someone will give me fake money for real bitcoins.
Sure exchanges demand some information on your identity but they will never withdraw fake money to your bank account...
I received a bank deposit straight into my bank account, and it was fine.
but someone on Reddit had his Bank of America deposit reversed AFTER it showed up in his online banking
Posted From bitcointalk.org Android App
but someone on Reddit had his Bank of America deposit reversed AFTER it showed up in his online banking
Posted From bitcointalk.org Android App
That might have more to do with Bank of America than anything else. What someone else said is very true, cash in your hand is cash in your hand. Accept no substitutes.
How come an online transfer get reversed ?
It went like this:
A guy bought BTC with depositing money in a branch into a BOA account. After he got the BTC he just went back to the branch and said he maid a mistake and they reversed the transfer and paid him back his cash. The sick thing was, they didn't even request a drivers license or anything...
Nay! That's easy for scammers and you just gave them the idea. Same thing with western union as far as I know can be reverse. So long as the cash wasn't withdrawn yet, the sender can definitely reverse back whenever they want, they just show the receipt and they can cancel the transaction.
A guy did me up proper on LBC, we made the trade, he was very pushy etc. Turns out he was using "third party" bank accounts to pay me. So I blocked him, and left feedback and also reported him to LBC. He then threatened me. then a few days later I get a call from my bank saying that a fraudulent payment had been notified to them. I sent the receipt details to the bank individual and they confirmed I can keep the money (legitimate payment) but because it was BTC I was trading in, they threatened to close my account.
I guess thats what the guy threatened me with.
My stupid fault, but I havent really lost any money as a result which I was lucky with to be honest. Still, what a pushy person he was.
I guess thats what the guy threatened me with.
My stupid fault, but I havent really lost any money as a result which I was lucky with to be honest. Still, what a pushy person he was.
I got scammed on LBC a couple months ago, first successful scam pulled off against me in my life... I was sent a $1k BOA transfer, money is in my account, I released BTC and their BOA transfer was reversed back to them - and I have done literally 100s of these before without this ever happening (I and others thought this to be impossible.)
So be careful. Always know what you are dealing with online.
So be careful. Always know what you are dealing with online.
Did the boa transfer show up as pending? Or did it show up as completed before it got reversed?
Was there anything you could do about this such as finding out about the guy who did this? Did he use someone else's boa account? Or was it his account then he did a reversal?
There are many buy bitcoin ads with bitstamp price +5%. The payment types are U.S. bank deposit/transfer. Most of the buyers are marked as PRO trader with 100% positive feedback. The offers sound very attractive. Are they scam?
Thoughts on this still?
There are many buy bitcoin ads with bitstamp price +5%. The payment types are U.S. bank deposit/transfer. Most of the buyers are marked as PRO trader with 100% positive feedback. The offers sound very attractive. Are they scam?
It is unlikely that they are scams but not impossible.
There are many buy bitcoin ads with bitstamp price +5%. The payment types are U.S. bank deposit/transfer. Most of the buyers are marked as PRO trader with 100% positive feedback. The offers sound very attractive. Are they scam?
Be aware of scammers uploading fake B of A deposit receipts. I've been getting a lot of those lately. I think B of A receipts are easier to forge than other banks.
would you mind uploading a picture or what this looks like with anything blurred out if you need to?
I don't want to to give any more details other than every one of these scammers has had a (0) next to their name as in no trades so far. The B of A tellers have stacks of blank receipts with the logo printed on them. They hand feed the blank receipts into the receipt printer during each transaction. It is easy for an unscrupulous teller to take stacks of those blank receipts home with him and then give or sell them to scammers.
Be aware of scammers uploading fake B of A deposit receipts. I've been getting a lot of those lately. I think B of A receipts are easier to forge than other banks.
would you mind uploading a picture or what this looks like with anything blurred out if you need to?
Be aware of scammers uploading fake B of A deposit receipts. I've been getting a lot of those lately. I think B of A receipts are easier to forge than other banks.
I got scammed on LBC a couple months ago, first successful scam pulled off against me in my life... I was sent a $1k BOA transfer, money is in my account, I released BTC and their BOA transfer was reversed back to them - and I have done literally 100s of these before without this ever happening (I and others thought this to be impossible.)
So be careful. Always know what you are dealing with online.
So be careful. Always know what you are dealing with online.
I also want to know how this could happen. You do not need to show ID to deposit money into an account, but you do to withdraw it. Also, what type of transfer was this, and were all accounts involved BOA?
This was an internal BOA transfer. It happened because BOA claimed that the account that sent me money was hijacked by hackers, hackers sent me the money then I sent them bitcoins. So false fraud was committed against me.
Interestingly/unfortunately/oddly enough, after having an account open with BOA for nearly 11 years, they closed my account 1-2 months after this incident. I was a member of their highest public $ tier (platinum honors) and have never been in debt or caused them problems in my life. This is the only reason why I think they may have done this, because they would not disclose the reason for closing my account.
That said, "anonymous" cash deposits are also reversible. So you need to take precautions with those as well. Anything banking related what-so-ever is reversible, I can guarantee you this. Some are less so than others. I learned this the hard way and I'm telling everyone here so you know what a shitty financial system we have out there and mostly so that the scammers do not win.
They close your account because AS SOON AS THEY REALISE you are trading in bitcoin (or have anything to do with even a bitcoin transfer or the like) they will close your account down faster than you can say Arnold Schwarzenegger.
LocalBitcoins
In person selling is great.
Online selling is awful. I get hammered all day with scam attempts.
I haven't figured out the rules with Western Union.
Can a transaction be reversed once it says "on location"
I've been waiting until I have cash in hand to release coins. But, do I have to do this?
Daily trips are annoying - and I'd like to go once a week and get all the payments.
But, I don't want legitimate buyers to wait.
Any other sellers have some insight?
In person selling is great.
Online selling is awful. I get hammered all day with scam attempts.
I haven't figured out the rules with Western Union.
Can a transaction be reversed once it says "on location"
I've been waiting until I have cash in hand to release coins. But, do I have to do this?
Daily trips are annoying - and I'd like to go once a week and get all the payments.
But, I don't want legitimate buyers to wait.
Any other sellers have some insight?
Yes, any WU transfers can be reversed at ANY TIME.
I had a transfer marked as "Ready for pickup" got there but the guy said that the transfer was cancelled.
So always best to make sure that you receive money first, before releasing coins.
I recently stopped using localbitcoins, it was my favorite, but now I prefer any friend who do exchanges.
This worries me a lot, I don't use Skrill or Paypal since I heard they were reversible but I did traded some bitcoins for wire transfer and if they are also reversible then how does one goes about exchanging btc for fiat. After how many days can the wire transfer be reversed I traded some btc 15 days back but the money is still in my bank account? 
A wire transfer is generally not reversible but could be reversed in the event of a error on the sending bank's side.
The only real 100% for sure way to know that you will be paid is cash in hand (cash never touched your bank account)
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