Topic: Warning ! Don't handover your fund to third party. (Read 355 times)

I don't think there's any big difference between scams that come in personal messages or just random ads on the Internet - naive people are equally likely to fall for both, and people with even the tiniest knowledge of security or general awareness would dismiss both. Everyone whom I know in real life always ignore suspicious phone calls or private messages.

What you say is true, but you neglect the factor of personal access to the victim through direct contact via Telegram or any other similar service. Ads in any form are less dangerous than direct approach to the victim, you see the ads and you go on, but when someone is sending you messages with a lot of beautiful promises, I think it's a lot easier to fall into the trap.

I did not say that people should stay away from the Internet, but that they should, in any case, avoid using what they do not fully understand. Sharing your personal information around without any control, using social networks and lack of knowledge are the perfect combination for losing money.

Do people who do not have a driver's license and are bad drivers need to drive a car? Well, of course, the answer is no, they are dangerous not only to themselves but to others as well.

Summarised what I felt. Like really, If the forum or even crypto itself was new, I'd understand. I'd get it. There weren't such cases or there weren't enough clues that could lead to that since everyone just wants crypto to progress. But hell, it has been a decade already. A lot of cases as such have been done already, and a lot has already fallen victim and has spread the news about it. Why are people still falling for it? Even in normal trading, a 150% gain is almost impossible to give to an investor, let alone in crypto. OP was way past being called a newbie, I'd agree to a comment made here. It's close to the point of him being called naive instead.

Long story short, Stop looking for short term profits where projects give out more than a 100% return. If your gonna go and let others trade for you, well DONT. No matter how much time you need to learn, thats a lot better than letting a third party handle your funds. Go learn and trade yourself. At least if you lost, you have nothing but to blame your lack of analysis. If you lost it through a third party, thats worse, you have nothing but to blame your stupidity.

150 % returns is crazy not all the time a trader can earn that it sounds like HYIP without a website. They are doing it via telegram, scammers will always find new ways to fool or scam us. Especially on telegram so many unknown people will pm you will offer something like this better block and report them automatically and dont entertain them.

This is why I always advise people, mostly newbies to search and read first if they want to enter the crypto-scene amd told them never ever hand their money to anyone saying that they can help gain profits.

People are greedy that’s why a lot of us are falling into these type of scam.

OP, Thanks for putting the word out on this. Everyone needs to see this post especially those who are still new in the space. Scams have become the order of the day. IMO, rather than chasing pump and signal groups, one is better off taking time (even though it'll take months) to properly learn how to trade. That would be a much better investment than looking for signal groups. One thing with these groups is that, when you're not a "VIP" member you see loads of profitable trades but when you join them, You start catching knifes in almost all trades. Bottom line, the best way to get something done is to do it yourself.

This is very painful to hear, I feel very sad when I see people who have experienced such things. Telegram has been an operating ground for scammers lately. These so called Pro traders who promise profits are no way different from conventional hyips and pyramid schemes , all turn out to be scam. Don't give anyone your funds to trade for you, things can go south quickly and you lose all you have.

I agree, social networks are not the problem. I think on social networks it is even harder to get scammed because many users can advice newbies when a service is suspicious, like so many people here in this forum do (and this forum is a social network).

browsing the web and phishing Websites are much more dangerous for newbies imo

I think newbie is a bad term, maybe "naive users" is better lol

Scams are not exclusive to social networks, you can find just as many scams by simply browsing the web and seeing ads and popups, or seeing spam posts on forums. By that logic you could just advice people to stay away from the Internet because it's full of scams, and also don't use phones, because of phishing calls.

Most people are smart enough to avoid them, but there's a small percentage of those who don't and it's inevitable that they will lose money. These people probably don't browse this section, because they are not proactive about their safety, many of them don't even learn from their mistakes.

How can one even be so dumb so as to allow someone else trade for them, what sort of expertise and unique skill do the mangers or admins of such group have. No one trades without losses and even those self proclaimed experts would still incur losses as they trade for others, and worse of all is they are at the liberty of running away with the funds deposited to them by naive enthusiasts.

If you cannot trade on your own, if learning all there is to learn about trading is proving a difficult task for you, then try using your money for a different thing entirely, going an extra length in employing a "perfect" trader can only have a devastating effect.

It may sound radical, but it is better not to use some social networks if you are not completely sure of yourself and your actions. While all of these new modes of communication have their advantages, they have also become tools for anyone looking to make easy money. So just imagine people sitting in front of their computers or having a smartphone in their hands and managing to fool people for thousands of dollars in just one day, all because of human ignorance and greed, and the fact that victims are easily accessible online.

If you rob a bank or a store, you are likely to be caught and put in jail. But in the case of online scams, 99% of cases will not be resolved in favor of the victims, so they will lose money and no one will do almost nothing unless it is a million-dollar scam.

There are a lot of groups on social media which offers to trade on our behalf. Since trading is considered as a luxury and easy business and everyone want to do it by sitting at home and earning quick easy money. But most people fail in trading and then they look for such groups which can do trading on their behalf. Believe me such groups even if they are real and genuine will lose money in trading and will scam you. They will never pay you from their pocket if any loss happen in the trades.

What you just described is what they call the "long con".    The scammer will hook you with a few legitimate payouts in the beginning, because he knows you want to see results, before you get in deeper with more investments. He will also know that you will tell your friends, when you have actual proof of these payouts and they will invest too.

What he is doing is paying investors with a small percentage of their own money and as soon as he sees that there are enough money invested that he can run, then he suddenly dissapear or he comes up with some excuse that he cannot pay, like that guy did with his "hacking" excuse.  

Trading Crypto Couch? Is it the same group of people who run the Palm Beach Signal channel or What The Crypto? They're working together with that fake blockchain support? Wow.

Man, they seriously need to be jailed for a lifetime. I also know some paid bot trading offering their services through Telegram with a promise of 1% daily return or so, but then this bot failed and the developer said it happens because of bear market lol. Luckily not too many people involved but the amount he scammed is not small either (ironically, a lot of people who paid for this are those who some people call whales).

And btw, Ian Balina also runs new services which require you to pay a minimum of 0.25 BTC/month. This dude is hilarious.

Great move, this way they have learned and lost no money. Perfect result. 

It's always the same in crypto: greed is bringing people out of control and they are doing everything if scammers tell them the best stories. There are still far too much people falling for scammers and I like your time you are spending to expose them and underline how you detected it.
The best thing is always to teach how to figure out scams on our own getting knowledge and experience how to spot them: anonymous team / fake team, unrealistic promises, nor proof how they want to earn the promised returns and so on.
People will understand how to spot a scam and share their knowledge to others, how you did.

Source: Proverb 

Kudos to OP!!

I also saw that post yesterday. Honestly this should be a lesson to the victim though I feel sorry for him.
People should learn that;

- Don't trust Pump signals, they will dump on you
- Don't trust Trade signals, they will dump on you.
- Never pay any money to join "VIP trading groups",you will be scammed
- Never spend a cent to buy most of those trading bots... most are scam.
- Never spend a cent to buy trading scripts/ Betting scripts... it's probably scam or malware
- Never spend a cent to join matrix schemes
- Never spend a cent to join Ponzi schemes

There is no easy way to make money... why hand it over to a stranger to make it for you?
Don't be lazy and dumb, or else you will part with your money/crypto sooner than you expect.

It's very foolish to send funds to third parties,except if course if we're dealing with trusted escrow third party service.
Sending your funds to a third party or to a random individual in the name of trading signal is simply foolish and no one should fall for such
Anyone can randomly give out signals and get lucky once or twice
Learn how to trade yourself and garner knowledge yourself also

Warning! Don't handover your fund to third party. Why I made this thread ? Please read below topic on Scam Accusation board.

[SCAM ALERT] (Trading crypto coach Telegram) This is how I lost 0.85 BTC.

You can see there OP had sent found to a fraud for trading. No doubts OP was a stupid. There was a greedy offer like 150% return on investment and OP fall in trap. Not only this guy scammed, there are more stupid like that. Why we need to send fund to third party trade for us? There is multiple trusted exchange, why we don't want to use it? 

Recently lot of signal group/channel on telegram and they are adding peoples randomly. Most of them are fraud and just copy paste each others. Especially I always leave and report pump & dump signal group/channel. They will offer you high profit like 200% or 1000% and they might ask to send fund to them. Mostly greedy peoples fall in their trap and get scam eventually. Somehow they attract peoples to send money to them. I will tell you a real short story how they convinced peoples.

Few month ago there was a Facebook group about crypto signal and I was a member also (not sure who had add me). Group admin share few prediction, analysis, chart and news about crypto currency. Few of his prediction become nearly true and he start give trading signal weekly. Most of his signal was working fine. So peoples become his fan and his group has become more big. After few day he stop signal and group admin announce, " who have no enough time and no enough experience they can send fund to us. We will trade ourselves and we will return fund end of month with interest based on profit". Some peoples trust him and send fund, admin also return fund timely with 12-20% profit. So more peoples are start trusting him due to accurate payouts. He continue like this almost 6 month.

Due to bear market some of my FB friends want to join his group, they thought at least we can earn 12-20% by him. But I stop my friends and I advise them, Just watch the game. Group admin continue few more month and gather almost 50BTC (IMO) from group. Then suddenly admin gone offline. After few days come online and said my everything has been hacked and I am sorry .

So what you get from this story ? That's the way how scammer try to gain trust. I knew someday he will scam and eventually happened. My friends thanks me later.

So don't trust third party with your fund. Trade yourself, learn analysis. Follow them who share free advise and if you feel them good then apply on your trade. There is few signal group you can join but don't trade after you join. Just follow their signal how many % accurate. Then choose which group is best and you might follow that group.

Apologize for long post. Perhaps it might help newbie.