Bitcoin Forum

I'm wondering if anyone here can confirm that this address is a tumbler. According to the below url this is either a tumbler or some kind of exchange address

https://www.bitcoinabuse.com/reports/1L1xSXttdsBAPVjVfyoyCg3RZbdHinT5G5 (https://www.bitcoinabuse.com/reports/1L1xSXttdsBAPVjVfyoyCg3RZbdHinT5G5)

Thanks

It belongs to Huobi; I think its a customer address, which means if its been used for anything shady then it is a reference for law enforcement. Seems a few people aren't happy with whoever is behind it...

In this transaction, it is part of a multisig transaction to another address: https://www.blockchain.com/btc/tx/873c5e22fdd0f1a0d7dca4c7440c72587d74296d7d9bae0b4ab2641c45a81d15

Here's the wallet as grouped by walletexplorer (note that it labels the wallet as "Huobi.com-2"):
https://www.walletexplorer.com/wallet/Huobi.com-2?from_address=1B1FMUFTQihFeKhhrVsUTF8WToEFzG1Sy8

Thanks nutildah. Very Interesting. So here's why I'm asking.

Several weeks ago a friend said he sent some money to someone to trade for him. Said that he wins 90% of the trades, and is only in them for a few seconds. He also sent me a screenshot of some of the trades. The trades were in the FOREX market, I tried to verify them, couldn't do it. There were no moves in the market at the time that these trades were made that showed the profit on the screenshot. This "trader" also trades at a broker called BSB-Global, which according to the net and UK's regulator FCA is an unlicensed scam exchange.

Of course I called bullshit and told my friend this was most likely a scam. Anyway, today he sends me a message saying that he is a bit suspicious of this trader. After a bit of back and forth I got some information out. Firstly, to send the money to this trader, my friend allowed the trader to remote in to his laptop to make a transfer to the traders account (crazy, I know). Well the reason my friend had to let the trader do it for him via a remote connection is that the trader wanted the funds via Bitcoin and my friend has no idea about how to use Bitcoin. They used crypto.com to purchase the Bitcoins and then the the trader transferred from crypto.com to his wallet. Below is the traders address. The first transaction (e890282829e4b586596edd623e0efa9f3a8b0d277e50332e918bb5c8d850e981) is my friends funds.

https://www.blockchain.com/btc/address/1BFXgGZU5kNn9G5EXH8h4oZ5KKFStaRy9H (https://www.blockchain.com/btc/address/1BFXgGZU5kNn9G5EXH8h4oZ5KKFStaRy9H)

So following the funds it goes to this address

https://www.blockchain.com/btc/address/3H19hesgsQrB4YpR68EJgSZAiH6U8pbTWe (https://www.blockchain.com/btc/address/3H19hesgsQrB4YpR68EJgSZAiH6U8pbTWe)

and then you can see his funds being moved to the address in my original post here

https://www.blockchain.com/btc/tx/8f9308a2a07a178b300af9e26431fe5377248ffc87738740aeab8e29331cec41 (https://www.blockchain.com/btc/tx/8f9308a2a07a178b300af9e26431fe5377248ffc87738740aeab8e29331cec41)

The 3H19hesgsQrB4YpR68EJgSZAiH6U8pbTWe address seems like an interesting one. lots of outputs go to exchange accounts or Bitcoin on/off ramps. Is this a trader, or his organisation, sending the coins to an exchange to trade? or perhaps to cash out?

Do you or anyone else have an opinion on that?

P.S how in the hell did I not know about walletexplorer.com great site.

I think that's likely. He/they might use the exchange to mix the coins to cut the connections from previous txs. You might want to contact Huobi directly to report him/them. It's hard to know for sure whether he belongs to a group but it's fair to say the address is suspicious.

scam cases that involve a contract between two parties and then send money to the platform require proof of scam, and then the platform can freeze the money and stop trading, which is something that does not happen for two reasons, the first is that it is difficult to prove it and proof that the platform does not cooperate and the second reason is The platform will need a lot of resources to search and ensure the correctness of the information, while it will not get a lot of money for that.

In short, if the case of scam is not clear or of a huge amount then no one will help you.

The bitter truth is there is nothing right about sending money especially bitcoins to a stranger over the internet to make profits for the sender. It's always just scam. The reason he wanted Bitcoins is because once the transaction is confirmed, it's irreversible and also hard for one to trace the actual identity of the scammer.

Looks like he has scammed lots of people, It could be a group of scammers probably having so many scam investment programs or trading websites set up and keep tricking people like they did to your friend and then afterwards they move the funds to Huobi in order to cash out

This is the so-called trading platform in question, thou offline now: http://web.archive.org/web/20200528091931/http://luxistrade.io/

This also looks like an exchange address but it probably belongs to a different exchange. Maybe its a service like Changelly or something. Your friend has a crazy story. This "trader" you are talking about of course isn't a trader at all but a scammer. How did your friend come in contact with them? It seems like he probably established some degree of trust with this person -- how, I'm not certain.


It is a great site and I've connected a lot of alt accounts with it. However, keep in mind that there are ways to combine outputs from entirely different users into the same transaction, so, it's not a 100% way to link entities.

Thanks for the replies everyone, the input is appreciated.


He has had contact with this trader over the phone only. He was referred to the trader by someone he knows through his work. This someone seems to have been conned too, so I doubt he is in on it.

I suspect the scammers are playing the long game. I've seen investigative journalists pieces on this type of thing before, the scammers extort thousands over a number of months or even years. Same as those foreign girlfriend scams for lonely guys, lasts years and they keep getting money out of them.

Anyway, I'll see how it goes from this point. My friend is going to try to see if he can get some money back from him, I don't like his chances though. But hey, maybe I'm mistaken and somehow despite the scam broker and odd Bitcoin transactions he is actually legit. Doubt it though.

 

I think hard to know who address is it because when we know with address platform like an exchange we can't know who have this address maybe his not pass KYC. This risk by adopting bitcoin and altcoin as payment transaction issues by government because when wallet hacked not have possible to know who hacked your address and you assets to to whom. This give us lesson how to be carefully with our assets when saving on exchange or offline wallet, always protect with many security from gmail authication, mobile phone number confirmation until using 2fa to get safety our address and keep going on safety for the future.

Just to finish off this thread. My friends friend made a live video with this so called trader. He had the trader on speaker phone and was recording his screen with another camera. The idea was to prove that the trader was legit by showing some live trades, but, it actually showed how the scam worked. Very basic rundown is as follows:

1. Trader opened 2 long positions through the BSB-Global platform. I can confirm that the trades were live and the data was real price data.
2. Once trades were open, the trader said that they'll close out in less then an hour. So they should close the platform and come back then.
3. After sometime (no longer than an hour) they came back to close the positions and according to the BSB-Global platform both trades made a profit.

So everything seemed legit, wow this guy is awesome. But no, when you note the price of both trades entry positions, and then their exit positions, he should have made a loss on both trades. The platform definitely showed a profit though. What happened is that in between the open and close of the trade, when the platform was shutdown, the trader went into the backend and changed the entry price lower so that the trades showed a profit instead of a loss (not on video of course, but obvious), lol. It was completely missed by the guy doing the video. I guess that's what happens when you are blinded by profits.

So that's how the scam is done, all the entry positions are simply altered so that >90% of trades are winners. The returns page looks great, but of course there is no money actually there. That money is going through all those Bitcoin addresses above.

 

Sadly people will continue to fall so such scams due to greed. At least for you, you were critical in making that observation but imagine ignorant people out there who would just instantly  get excited after watching the "live trade video"

I think what he did when he was tried to edit the values using the Inspect element tool found in browsers

Na the BSB-GLobal platform itself is a scam, there are warnings all over the net. This "trader" works for the scammers who own the platform it can be manipulated anyway they like, so inspect element wasn't used, he literally changed the open trades entry price, that way the account balance and everything else changed too.

What amazes from the whole experience is that my friend took almost a month before he decided to fully agree with the massive weight of evidence that indicated a scam. However, he had already handed over some money, so I guess there is some bias involved in that

What's that saying around these parts "Don't trust, verify".