Bitcoin Forum

Today I will introduce you a common way/trap how newbies get scammed by some dishonest people. So I will share about a site that I got in the social media.

First, see a screenshot of how the site is promoted in the social media


How greedy the offer is! Free 0.06 BTC. How unrealistic the offer is! So anyone who is newbie and searching for earning ways in the internet can belive this and try to register to get the free money. I have also registered to see and reporting here.

This is the dashboard

https://i.postimg.cc/GhDX6HSD/Screenshot-11.jpg

It's showing 0.06 BTC in my wallet but it has no value  ;D Let's see what happen when I try to withdraw..

https://i.postimg.cc/kMTCDhns/Screenshot-12.jpg

It's showing you have to make deposit to join their bounty program before withdraw any fund. Now let's see how works the bounty event.

https://i.postimg.cc/154QFcXQ/Screenshot-13.jpg

I have not anything to say here really. Maybe you can not see this reward plan in night dream. Even they will sent the bonus amount directly to you bitcoin address. So atlast you can see,

1. No value of 0.06 welcome bonus
2. You will be forced to make a deposit to withdraw the fund.
3. You can not withdraw it
4. You can not get any bonus when you make a deposit
5. You can not withdraw your deposit fund.
6. You will lose your invested money and your valuable times.

Some suggestions regarding these cases

1. Don't believe these type of offers even if your friend try to introduce
2. Don't think internet is a money maker machine

Then the question is why people are promoting this? You get the answer when you go the affiliate page where they said people will get 50% commission. So if your referral deposits 10 dollars you will get 5 dollars. But the reality is you and your referral both will be scammed. So don't try to promote these sites also.

Deposit 0.001 BTC and earn from 1 to 10 BTC in return .. whoever falls for this is silly tbh, if this one was legit they would've probably needed all the existing BTC and still not have enough to cover the participants' earnings ;D

Also if you find a site that pays you to recruit more people and it isn't like a small commission based thing - just don't bother... You'll most likely both get scammed.

50% commission of whatever who you referred deposits is too good to be true, that's if your referral deposits 1000 dollars, you get 500 dollars, lol, could making money be any easier ;D. The people still referring their friends to this, could it be they haven't tried withdrawing and found out its not possible, or is it just different members of the scam team that's still promoting this scam on social media platforms?

I saw an airdrop, it was through a channel on telegram, I joined and promised to pay $45 freely, out of $45, I collected $25. When I wanted to withdraw the coin that worth $25, I was unable to, they said only vip that pay certain amount in ether that worth $5 would get the the coin for now that the free trade will be 2 weeks after. I have noticed it was a scam airdrop but waited the 2 weeks, no coin receive, it was actually fake and scam and those that pay the vip fee lost their ether for sure.

It all comes to ignorance and greed. You will be surprised by how many people still think one can make money on the internet without investing on anything. Those Facebook bitcoin and Telegram groups meant to discuss bitcoin and cryptocurrencies are these days only  filled with referral scam and spam

Bottomline is if anyone is offering up "FREE" cryptocurrencies but it requires you to make some kind of deposit before you receive that amount for "verification" purposes or for any reason this is most likely a scam. Why? Because there advertisement of "free" already is fake as it requires you to do some kind of risk in depositing your own money so that you can receive it but don't be fooled you won't receive anything and all there after is just your money. Investments like this really don't exist and no sane company will be giving up free money just for you registering/joining their service.

Recently I have two friends asking about different investment sites; the one is the same as this, and the one is likely the same as a pyramid scheme(I think they both Pyramid scheme). All of them need to invite someone in order to earn and to withdraw. If you are lucky, you can withdraw, but in the end, you will still lose without withdrawing the amount you deposit.

Since the bitcoin price jump a few hours ago expects to many scam investment/pyramid scheme coming and I believe soon many scammers will pop up because of this price jump. It is likely the same as before that there are many investments and scammer pop up everywhere during the longterm bitcoin price bubble. So I think it can happen again if the price bubble continues.

Many more scams are coming these days using new ways or even old ways to get more new victims. Well, we have been so popular with this kind of scam. But for the newbies or people who do not know about this kind of scam and they are greedy? they will be trapped very very very easily with this shit scam.
Well, Actually, we can see their pattern of scam.
https://i.imgur.com/b61eKtW.png
This kind of scam is really usual where:
1. the reward is very high and it is very tempting. for greedy people or for newbies, they will be traped so easily because they think by doing this, they can be rich so easily. This is how this scam really works on newbies or greedy people without analyzing the case.
2. We must deposit first to be able to withdraw the coins. We must really avoid this kind of scam. If it happens, it is really a scam and we should not send a single cent of money to them, whatever they influence. They are absolutely scammer.

We have seen different scams scenarios these days, it might because people were stayed at home and didn't have job to sustain their daily needs. So everyone looking and find ways even it is illegal. We must be vigilant at all times.

I'm allergic when it comes "investment", I know that this is prone to scam and probably it starts with a Ponzi scheme fraud. When someone offered doubled your fund in the easiest way, be cautious at all times because you will never know you have been trapped by scammers.

Imagine, as a promised of deposit small amount and you will get bigger amount of what you have deposited. Just a common sense to spot scammer's activity.

Anyway, thank you for your compliment against scam OP.

Yet it works somehow, heard too many stories about it already.
Why? Because people hate missing opportunities. This is their biggest fear, not loosing money but loosing opportunity.

Protecting yourself from that feeling, is first way to harden your Bitcoin security in this case.

I don't know if it completely the scammer's fault but the user themselves. Believing in something this ridiculous could either lose every bitcoin that you have or land in jail if the law enforcement in the users country is not allowing that. For example, the Ponzi schemes that appear everywhere, taking everybody's money foolish enough to have downlines, etc. I think the best approach to this is education towards people not to invest in this type of scheme.

If something is too good to be true, than it can not be trusted at all. There are a lot of this kind of sites and a lot of newbies still promote this to scam them. The problem with newbie looking for making money is they want instant money and as a result they fall for it. They never think of verifying how can this be possible even.

I did a thread about the victim's accountability and I completely agree with what you are saying, maybe the first time is a slap on the wrist for victim but the second time or worse the third time, you have to be asking whether they really deserve some help or they are just all too gullible and greedy. Educating people is a taxing work to do, imagine yourself preaching different types of scams and what are the red flags and how to prevent from falling for it, and all you get is few listeners and yes you might get some audience but most will forget the lessons next day, it is very heartbreaking that some people just brush off this kind of stuff. In my opinion, the best thing that you can do as an individual is just to say no when the offer is too good to be true, most people fail at these because they either are too anxious to refuse someone or they are too kind.

The hilarious thing is they charge fee to receive SMS, what the greedy scam. Send btc first and receive more later, that is a classic scam type. The fee to receive SMS is expensive too. And let see how they have option to get free SMS at Remove SMS fee  ::)

I am more surprising to see people still get scammed and suffer financial losses from the scam type.

Idk why but most of these scamming schemes have broken English, it's biggest red flag one can have.

5 BTC bounty for every participant is hilarious. ;D
No one will give that massive amount for just promoting them. Unless we are back in the past when 5btc has low value
 This was the real giveaway back then. (https://amp.reddit.com/r/Bitcoin/comments/6vsmyu/the_original_bitcoin_faucet_used_to_give_away_5/)

Do not fall into traps guys.
Be safe and do not lose your money because of fraud.

These scammers are feeding the greed of some of us and tempting people to go for it, but if you know how this people works I'm sure you will not give in and report it, I have not read or think that for you to join a bounty you will have to pay the project that's outrageous, out of this world paying money to promote a project, these people are insulting our intelligence.

Wow thats huge gain dude Im very interested will send a lot of bitcoin and it will give me fortune( Of course Im kidding). Haha the rate is over 1000x^{nth times} supply of btc would be not enough if all would joined.

Probably this is a rush creation and doesnt give much proof reading before launching.

---

Nice find OP,  I found similar scam scheme before but only you need to input your address. Check this out (https://bitcointalk.org/index.php?topic=5256837.msg54651384#msg54651384)

This is absolutely a scam why does a platform will allow you to make an earning almost 1 BTC above and then just pay for the transaction fee?. If you do this as the creator of a page you are a millionaire and want to spend all of your extra money for other people else you are just a scamming platform. As a person does not have too much knowledge into the world of bitcoin and just knows the word bitcoin and investment only absolutely you will fall on this trap immediately.


Most of the time I found this kind of platform is on Facebook and telegram. On Facebook most of my friends are believing this platform I don't want to become a villain to their investment but still, I give a warning on them. In telegram most of the time there are a lot of invites even you didn't join.


It's like you are a billionaire that you want to give your money to the people and pretending this not a scam with a banner of "secured" and "not a scam".

The introduction itself is already a scam, no one would give free 0.06 btc for just a small amount of deposit, this is very tempting for newbie or ignorant investors but for those who have matured in the market, they've seen many of this kind of scam in the past.

Good thing you share, but actually, it doesn't need one to be an expert to know if the offer is a scam or not.

Too good to be true offer = automatic scam.

Thank for the info Bro. It is big help for us being newbie to be aware on investing bitcoin in different kind of site that can scammed on us.

Very strange come to think of it. Then it reminded me of some guy who sold his wife for Internet connection, if you've seen the meme before ;D

These are just some of the traps for the newbies there are some news in our local about a ponzi scheme and yet many people do fall for the trick of earning in a just a day or couple of days which is really impossible unless they are illegal.

The number of victims only shows that the cryptocurrency and knowledge about fake and scam investments is very low.

The offer is obvious scam for  the  people that have been here for long time or those people that active in interacting about what this market is all about.

But your  right the main target here are the Newbies,Noobs  and Greed people that seeking  for quick money.

with small deposit and you can earn that  big amount of bitcoin?it seems that you are betting in gambling for a chance of winning the jackpot
but this site offers you as legit easy way?

Think 100 times before putting even a penny in this kind  of site.

Just always Visit this Board for more Expositions and this is  what we need,because  scammers  now even offer  smaller  profit  to make their scam looks legit.

These methods have become very old to defraud, and despite that, beginners still fall into this fraudulent process. We must not believe any site that offers unbelievable offers and not to make any deposits in these sites because they are sites that are not sincere, especially if they are new sites.

There are facebook groups that are really active with this type of crap such as this one (extra spaces added to avoid direct link being active):
There are hundreds of publications there with “enchantments” such as:


The list goes on and on. I mean, who can really resist (getting scammed) right?
 

An advice for a newbie and everyone. If someone promises a +100% daily profit - run away from it like from a plague. Specially if they offer just to hold your funds or "work" (trade) using them. I'm 99.9% sure it is a basic Ponzi scheme. There no on Earth a new single project that can give such profit.

See someone offering huge daily profit - make a deep research or spend a day googling it. Or better skip it.

This scam method is practiced by many members in Indonesia. as seen in the screenshot from OP, the top dashboard screenshot is Indodax.com dashboard. And indeed almost all members in the Indonesian bitcoin group do this to deceive someone. Indonesian Hunter and Airdropee love to share these fake screenshots. Those who are newbies will be lured into inbox with the promise of getting profit.

You are right, these are the common sentences in social media mainly some facebook investment/crypto groups.

I want to add some more sentences, such as

In these types of lines the invites don't say people directly to invest money. But the site link critically added. ;D

This is how people lose friends because of greed, persuading them to participate in such dubious schemes. But I am sure that no one will get their 50% as a reward for attracting a referral. This is a fraudulent scheme in which no one gets a profit except the owner of the scam.

Or it might be, they were still hoping that something different might turn out for 'em.


Exactly! Instead of giving their friends some lectures 'bout such stuff, worse is that, they are the first one who would lure their innocent buddy in  :-\, damn this greedy people.

This cycle won't really end, unfortunately. The only thing that would minimize the number of victims here, (as always mentioned) is none other than education 'bout scam thing in general. Thing is, people couldn't care less about some notice, as if they won't be getting involve sooner or someone around with them  :(.

This method of fraud is often found in the Facebook Bitcoin Group. The method that has been done very often in my opinion. But with several different variations. Beginners who join the Bitcoin facebook group will certainly ask about the Investment Program like this, because their target is beginners who have just joined or beginners who do not know about the mechanism of what bitcoin is and how to get it. They only see the number of bonus offers that are given.

There are even some members of the PM bitcoin facebook group to me about Funds Deposits made on mining websites which then cannot be withdrawn.

This method also harms many others especially those who have just joined. If we see a post like this you should immediately report it so it will be deleted immediately and not harm others.

It has some difference from typical doubler sites.But this Scammers doing target to the all Bounty hunters and Crypto earners.Just report this post to group admin and Facebook support team.Hope you already did that.
These scammers should be busted regularly.

A lot of newbies would really fall for that kind of introduction because it is too good to be true that you could earn free 0.06 btc and with a minimum withdrawal amount of 0.0003 btc. This kind of scams are commonly found on social media sites such as facebook, twitter, instagram, and telegram, that is why we should be careful and help other newbies who are new in bitcoin for them not to get scam.

It is the same way for me. I thought I was weird observing bad grammar on any site I visit. There were alot of errors in that screenshot and that will piss me off.

Right now it's common with the use of social media most of the scammers right now are active in those platforms because today there are a lot of people right now are on their homes and one of the best thing is to explore on social media and this is a good opportunity to scammers to take a move many people think that this is true because some of them become desperate want to earn money even in this pandemic outbreak, I don't think so why they didn't make any suspicious in those platform giving a huge amount of money by just investing a small amount. If you are in their shoes of developer do you consider this? Of course no so absolutely a scam.

To many attempt like this and it's not good for newbie to experience this before they could learn, best if they could learn on someones mistakes so that it will not cost them, anything regarding on what will happen in future. There are so many sites to search for to get an information regarding on the platforms they wish to go on.

So the main thing for us here is to became more resourceful and get the information that we need here.

These program give more than 100% return + 0.06 registered  bonus that's why many greedy persons fall for this.

Plus the bounty program its too good to be true they also want to earn from people who want to promote their scheme  by asking them to deposit 0.001 and possible return is 1-10BTC which is obviously  not true and not possible to happen.

Beforehand, it's a must to continue finding tevery information that's needed once you are going to participate with anything,
scammers are everywhere that's the first thing that newcomers should know, protect yourself by educating yourself with
information that you can read all over the net, be resourceful to avoid making mistakes in choosing your participations.

There are also some instances in Facebook where they will make a post and your facebook profile being tagged and also your profile picture being shared there indicating that you won their huge giveaway even though you didn't participate in their fake event, I think many newbies will also fall for that trick especially when the reward is high and the fee you need to pay is not even 10% of the prize.

I actually try some of the investment that is very similar to this where you are going to invest a minimum amount of 0.001 BTC to start earning with just investment and they're your money will automatically going to earn profit as time goes by. With a high percentage of earning you are really going to be temp to invest especially with a high amount of profit with just investment.

At first, you could really earn the right amount that they said but eventually, you are going to encounter a lot of issues in withdrawing something like maintenance websites issues, etc. And then as the website is gaining a lot of investment it will just go to shut down and run away with the money.

It's funny because you could earn a lot especially with you have a great number of affiliates and that affiliates invest a big amount you could get a percentage of that investment. But it is still a scam you it's not recommended because in the end all of the conditions are broken.

Social media were being used not only in twitter and facebook because others too like youtuebe. These are the worst places for newbies that will easily fall for a scam. And there is only one thing we could do and that is to report those scammers promoting scam. Though it may be look hard but if many will going to help and will do a little effort in reporting it then that would do best already.

This is free 600 USD :)

I can tell you that if someone offers you free 60 USD you can be very suspicious. I've been browsing the forums for years and haven't seen even 60 USD being given away to a large number of participants.

60 USD in a competition happens often or as an airdrop for Bitcoin owners but for registering an account? I think the most I've seen for testing out a site was $20 and there were other limitations like you had to bet it a few times to be able to withdraw or you had to get some referrals...

If they were giving away 6USD for free I'd say it could be legit. 60 - nah. 600? LOL

I believe only those that will believe this kind of offer are newbies or users that are desperate to get a hold of that cash at the moment. But unfortunately, there is nothing as free $600 or $60. $6 is believable but they will require you to accomplish some tasks but $60/$600, I don't think they will just give away for free without anything in return. In the end, they might get more money from you than what you will get from them. So stay safe!

This fraud scheme that only makes your money disappear. People who have already jumped into the crypto world without basic knowledge certainly will not heed the warning given. That's because of their greed and mindset who want to get money quickly and easily just by making a little deposit and get multiple benefits.

Nobody gives 100% profit today. If there is an investment model like that, with a profit of 100% it can be ascertained that it is only fraud.