Bitcoin Forum

Now more than ever there is a scam everywhere you look. We are online 24/7. Somebody hacked into your stuff, stole something and now you have been robbed, or even worse someone convinced you to willingly send a small or large sum of money to them without getting anything in return. I feel like this should be a topic of discussion simply because this is so prevalent in the crypto category and everyone has their two cents on this. So my simple question is this, in your experience, what are the red flags and tell tale signs that the person you are dealing with is a scammer/fraudster. That is the million dollar question isn't it. How can you tell who to trust, forensic analysis edition is what i'm looking for. Would like to know the answer to this question in every applicable way or fashion that is related to our industry to use as sort of a guide book or study guide, if this exists please produce the source link for all to see. That information is almost priceless.

There are general signs you can look for with scammers,

• One of them is that they seek you out. Scams are unsolicited, and the scammers reach out through you through email or social media,
• They tell you what you want to here. This could be by offering a too good to be true deal or rattling you with a notice that you are in danger or your funds are at risk.
• They tell you things that align with your interests which are public knowledge. For example, a known collector on the forum gets a pm about rare items for collection with a small shipping fee.
• Your conversation with the person appears rushed.

All these are not definite signs and scammers adjust their strategy regularly to appear more convincing. Always be on the lookout for scams and think it twice or three times before opening your wallet.

No one.

- Jay -

The trick is that you shouldn't put yourself in a situation where you have to do heavy analysis on the person you're trading with. As much as possible, always go with the ones that have been highly reputable for a good amount of time already. May it be on Bitcointalk, on P2P exchanges, etc.

There are many signs one can use to detect scammers. Scammers use different ways to scam people on the internet this days so it is only that who are smart enough can escape. And if you not smart they would just use you to shine. First if they are coming from banking system to defraud you from your Cryptocurrencies. They will ask you for OTP and remember bank staff would never ask you for OTP, please don't send them your OTP.
Then in the social media, all the individual pages. And not group pages are for scammers so avoid those individuals pages. But if is a market place you can buy what you want but receive your good before pay.

Scammers use a variety of tactics to entice their victims into committing to them and falling into their trap. The one I am more familiar with and that frequently occurs to me is the scammer being the first person to message you about a specific service they provide. They make every effort to persuade you to use their service. They will even provide you documents or testimonies of people who have joined and benefited from their services.

Any service or company that has no reputation should be avoided, because everything they show you is simply too good to be true, and you should avoid people like that. They mostly goof around on Telegram.

It's about common sense... if the deal looks too good to be real then it's a fraud. That's how the internet works nowadays. Don't trust anyone, even in people that you trust in the real life because it can be an identity fraud. Anyone can be other people online. So, we need to forget about the trust factor online, and that's the only way to avoid getting scammed.

If someone asks you for money online you can be sure that's a 95% scam. And the smart way to avoid it is to block that contact, that's our only option.

I'm uncertain if this thread belongs to the Bitcoin discussion board. Perhaps it would be more appropriate to move it to the Beginners & Help (https://bitcointalk.org/index.php?board=39.0) section. Additionally, I believe that similar topics have been extensively discussed on the forum before. Nonetheless, the key to avoiding scams is to let go of the desire to get rich quickly and to avoid being greedy. This approach can save you from many scammers. Scammers are constantly coming up with new ideas to steal your funds, so you can't rely solely on following rules. You must use your intelligence to protect yourself from scams.

The first sign is that if they are the first to contact or initiate the conversation then they have a motive and most probably can scam you. You would need to ask yourself what's in it for them that they need to initiate talking and by then you can already sense what thier goals are.  I can trust more if I am the one initiating a conversation.

If you see they are very aggressive and forceful even when you both know there is no contract agreed upon. Something is wrong which is enough to suspect a scam.

To make things simples, everyone on the internet is a scammer or fraudster in potential to deal with, unless they have how to prove their reputation on previous successful trades and deals. You never trade with someone you don't know the backgrounds with certain, that is why there is the middleman service on this forum, which is the person who will ensure the deal is legit for both sides of the negotiation, the seller and the buyer.

This way you can trade with everyone on the internet without worries of being scammed. The middleman must be someone highly experienced and reputable along the years on internet niches, like bitcointalk forum.

Difficult to understand when you are talking to a scammer and I am not referring to scammers who contact you via Telegram but rather to those who enter your intimate sphere by becoming friends and after years manage to rob you as if it were the first day. I wonder how they do it. The only way is to never trust anyone.

Because cryptocurrency is so risky, trust is a major issue. Everyone wants to win and make a lot of money when they invest in it, which is why scammers are constantly looking for new ways to scam and defraud people who are new to cryptocurrency or fall for their traps.

Scammers have different ways to be identified which include the following:
They always appear desperate to end or conclude any transaction they started before the victim realizes what is going on; therefore, if anyone is desperate for you to invest in a platform or send any cryptocurrency that you are not sure is a scammer, because real investors cannot be desperate to finish their transactions because they have nothing to fear.

Scammers typically use Telegram channels and groups to find victims and then delete the evidence after they have duped you. They usually have a team that will encourage you to invest or transact with them, claiming that they did theirs and were successful, so you will believe it is true because others have confirmed it for you.

Many users here have mentioned red flags that are used to identify scammers, but keep in mind that scammers are constantly developing new techniques to improve their scams. We simply need to be cautious and continue to learn every day so that we always know what to do.

Do not trust strangers you meet on the internet, there are no real personalities on social media only avatar, you can’t be certain the person you are conversing with is who they claim to be. It’s risky to put yourself in a financial situation with a person online, but if you somehow find yourself in such scenario, you should definitely do a web search on their profile pictures, chances are you will find multiple accounts with the same pictures but different names. Ask for a zoom call and see the lame excuses they come up. Lastly, if it’s a crypto investment scam, do a thorough research on the website. There are certain things to look out for like grammar errors, office address, domain e.t.c.

Scammers are very smart you know but one thing bis for sure that they are always the first in conversations through chat, email, free giveaway etc. Their words are very enticing to convince you to doing their bidding and if care is not taken, you would fall for their trap as their mouth watering offers are very tempting to try your luck  and see if it would work out fine.

Mates, one thing you should know is that  when dealing, is the source a trusted one from recommendations?  Check the reputation of source you are having a deal with, their profile or portfolio should be able to spell out their intentions for you to know immediately.

Be at  alert do not fall for scam!

The signs are much. For sure, they initiate the conversation and try to keep up. It's more like a hopeful contract/business prospect being followed up. I have had interests of such but could easily discern because I did my assignment. I asked questions both here on the forum and of real persons.
Their website address always looks phony. Always check it.
The contact details too,
The way the arrange their lines too if it is convincing enough should prompt you to ask for evidence or picture proof.
Thank God for recent advancement in tech, one could easily ascertain the authenticity of most pictures and documents and could logically tell the real from the fake.
Above all, it is most important to be vigilant and slow to response, while reading in-between lines.

One of the signs I can point to is unimaginable returns from investment. Most fraudsters introduce businesses that promise to give high profits from little investment. This will make one interested in the business.

Another red flag is that such a business always introduces a get-rich-quick ideology. These scammers know that long-term investment hardly attracts victims, so they make the business look like an instant money-doubling scheme.

A business that asks for processing fees before one can claim his/her profit is usually fake. A genuine business will withdraw the service charge from profits and send the balance to the beneficiary.

The easiest way I can identify a scammer when some one is marketing a project for me is the eagerness or persistence persuasive of that person to me most especially when it has to do with me getting profits from it. I believe if it is legit he will just introduce the product or project and leave me to my ignorance or will be optimistic that I will find out

Do not let yourself feel the inconvenience, instead let the scammer feel the inconvenience when he’s dealing with you. That way, he will find it hard to take advantage on you especially if he sees you as someone who’s not easily trusting. And always go for what’s been established and reputable over the years, not for someone  who you rarely don’t know and yet offering you some too good to be true projects.

It really depends though, because not everything a scammer introduced to you will be a legit product. Some of them might not be their product and they're just using it as a front to their strategy to scam people. If the scammer start acting like teach you what to do then it's probably their strategy to make you do what they want you to do with them. Don't just get persuaded by their words even if it's too good to be true or very moving sometimes they use every tactics to lure out their victims.

In my opinion, the first sign of fraud is that he takes the initiative to contact you first through personal messages or social media without prior knowledge between you.

The second sign is when you are tempted to pay a small amount in order to get a big profit.

There are a lot of other signs like using trademarks and famous names, you should always avoid such things.

Online scammers vary in terms of performance, but it is impossible to be convincing without providing evidence of a known verifiable history, whether to prove identity or activity. Trusted profiles on peer-to-peer platforms or on communication platforms adopt this principle because credibility cannot be established without a clean history.
In my opinion, a person whose background cannot be researched cannot be trusted. This is a rule that is followed in everyday life, not just on the Internet.

For me, it's simple the signs that I think we are dealing with frauds or scammers is to check the reviews about him or if you deal with a newbie with no trust history and he keeps avoiding of using escrow then he is a scammer. Another thing is if you receive an unexpected offer from the scammer and promise that you can make a huge profit that's a scam.
Actually, there are many signs that is why always keep research first and ask someone trusted before dealing with someone that's the only way to ensure you are dealing with a trusted person.

It will not work with a simple if-else situation. It needs a proper analysis of a person and what they are targeting to get out of you.
There are new sorts of scams out there every single day and it is really important to understand some basic concepts when dealing with people over the Internet.

If we are talking about doing a trade of cryptocurrency which requires you to send them crypto and receive an item, I would first look at their feedback from other people whom they have already traded with and would love to get a vouch from them. I will simply never go first in any deal until and unless there are people who are willing to pay you If things go wrong.

Dealing with a scam business is way different than dealing with an individual, however, a similar approach could be taken to avoid getting scammed.

I am sure a scammer will always message you first unless you are going out to get scammed yourself.

Most fraudsters often use tactics to convince people without providing verifiable historical evidence. That's why we are always careful in making transactions or interactions with people we don't know.

Studying someone's background is an important step in ensuring their trustworthiness and credibility. However, in the digital age, sometimes this information is not always easy to find or verify. There are many different forms of fraud and the signs of fraud can vary depending on the situation and the type of fraud that is occurring. There are some common signs of fraud that I know of.

• Requesting personal information: Fraudsters may ask for your personal information such as credit card numbers or bank account numbers. A good person will not ask for your personal information.
• Fake or phishing websites: Fraudsters can create fake websites that mimic legitimate websites to ask for your personal information or steal your personal information.
  
• Fake investment: Fraudsters can offer fake investments that promise huge returns in a short time. However, the investment actually does not exist or does not generate the promised profit.

So, apart from these signs, it is also important to watch out for other signs of fraud and always check the legitimacy of the information received before providing personal information or making any financial transactions. If something doesn't reassure you, trust your instincts. Feel free to decline the offer or stop the interaction if you feel uncomfortable.

First, you need to ask yourself how the scammer can contact you. Do you have contacts on Telegram or another messenger in the public domain? Do you have social networks that you have been running for a very long time and post a lot of information on there? By having social networks in your name and posting photos of yourself, your children, your home, and even a dog on them, you provide additional information that a scammer can later use, having studied your preferences and gaining even more trust from you.
In fact, you will never become vulnerable if you go online without expecting any contact from there. You don't need the ability to spot scammers if you proactively reject and distrust everyone who tries to contact you.
If you still believe in miracles and think someone will share their million with you, then know that scammers will do everything to one day talk you out of this by deceiving you and teaching you a lesson.

If he insisting to talk about your money and keep askinh question about it then youll definitely dealing with scammer and fraudsters. Usually they are lurking on telegram and social media like facebook. They will impersonate legit users with decent social profile and will started to lure you to a topic that will definitely caught you off guard.  Always much better to deal with the highly reputable or known people with a lots of feedback.

each scammer will have different signs that the person you are dealing with is a scammer. here's a great thread (https://bitcointalk.org/index.php?topic=5448698.0)(that was created by Crypto Library) to analyse and find what signs/red flags you can look for when dealing with a scammer.

in the thread that I shared, you'll notice that the scammer asked for a favour out of nowhere, and he was asked to verify who he is, he gave a lame excuse so he won't need to confirm his identity. also, he brought his "colleague" to try and make Crypto Library feel pressured about the situation and when the "colleague" start telling about his situation he is trying to guilt trip Crypto Library into sending them the money.

the red flags you can find in this incident are the sudden asking for a favour that involves money, the giving a lame excuse to verify his identity, the trying to pressure Crypto Library by bringing in his colleague and trying to guilt trip Crypto Library with a sob story.

Also watch out for people who don't know your full name or address, but they act like they do, like they're from bank's support or the government. This is a very common phishing scam where they contact you about your account in their bank and they want more information like your account number, user number, they make mistakes on purpose waiting for you to correct them.
If your name is john, they'll ask if they're speaking with Jim or someone from his family and you'll say that your name is not Jim but John - it's already going good for them.

I never talk to people who call me with an offer or mail me stuff. It always leads to a scam. If someone pretends to be the police it's the same. The police will never call you like that, they'll either send you traditional mail or come in person.

Thats typical when someone is impersonating any kind of bigger people like banks and telling you did a mistake and you need to give any important details will likely a scam. No one will ever ask from them about personal stuff it does only mean that they are scammers trying to phish you or get some info and eventually will use for their scam activity.

I tend to say that it is very important to know what the motive is behind it all. It's rare to find someone who immediately asks about money in the first chat because they tend to get involved in the conversation and ask many questions. But what's the point of responding to them? I think we just need to ignore them as much as possible especially if they are not people we know.

It's also important to consider trusted escrow rather than single user in good reputation. This is only part of how one gets good security in fulfilling transactions between strangers. So escrow is also important to be involved even though we transact with trusted users, especially in large-scale trading.

Scammers/fraudsters employ all kinds of strategies and its not a one shoe fits all kind of scenario to protect your self !

And one thing I have believed that has kept me off their net is ,if you are looking for something you atleast need to be the first to engage a seller and not the seller sending you offers and the alike...this is as good as fish following the fisherman when fact of the matter is the fisherman goes to the river to fish for fish.
Btw you know what they say, if the deal is to good to be true, the it probably is it.
And in todays digital age I think most users are informed
On how to protect ourselves online, we should make it a habit to always use safety measures such as escrow..
Whch could be a small extra cost but it will protect you 99% of the time.

Someone that you don't know in person, and no one recommended the person for you and you just met the person online. It is safe to assume he's a scammer.
Once in conversation with as scammer and they introduced an investment opportunity to you. They would always want to put you under duress, such that you will not have time to communicate with any other person.
They do this by giving you a limited amount of time for the business to be done. And that is a very genuine sign to know that the person is a scammer.
According to Lovesmayfamilis, there is no free thing anywhere.

You are totally right about hacking or vulnerable attacks. I have also seen many of my community members complaining (by sharing), how their wallets got hacked and they lost money plus there is one community member AnonBitcoiner who has shared his/her complete story, "GETINTOPC BIGGEST SCAM SITE (https://bitcointalk.org/index.php?topic=5449198.0)". These problems need great attention. Like only in 2022, almost $1.4 billion dollars (https://www.cnbc.com/2022/08/10/hackers-have-stolen-1point4-billion-this-year-using-crypto-bridges.html) have been stolen. To circumvent these problems we have to think before doing any action.

Because hacking and falling prey to scammers are two different things. When a spammer or fraudster tries to phish you with outstanding offers, you should think first and search about such offers on the internet and should seek help from different platforms, and forums, and should try to search the main keywords of that offers on Google, or any search engine, this will get you everything on that keyword even the reviews of other peoples if there any.

If an attacker hacks into your device without your permission then it's a totally different scenario than spamming because you are not aiding in the hacking attempt instead hacker has broke into your device. Now, what you should have there is a dog at home when someone broke into it, or maybe an alarm system. The same alarm system can be implemented in your devices so that when a hacker tries to get some file without your knowledge, you get a suspicious activity notification from it. There are many software providing these services. such as canary tokens, etc. Actually, this technique is known as "honeypot" security. What is it (https://www.techtarget.com/whatis/feature/How-to-build-a-honeypot-to-increase-network-security) and how we can make a honey pot? (https://securitytrails.com/blog/top-honeypots) These are terms you should be familiar with.

Scammers are making things easier for us with their very appealing offers, and once we bite that, we will definitely fall on their traps. That is why we should never be too trusting especially people we met online, as online scamming has become rampant these days. And never fail to DYOR, that will give us an advantage to become smarter than scammers so we won’t fall easily as their victims.

Basically, a scam should not happen when an unknown person contacts you and offers you a great deal. a deal that you never thought about until then, or at least not to get involved yourself.
Personally, if I have time to talk, I usually try to catch the fraudster in a lie. This almost always happens easily, because he himself thought that he had already won my trust and that my suspiciousness was decreasing.

if it's about a job that might be interesting to me, but I'm not sure about its reliability, I usually prolong the final decision by a day or two. for scammers, this is often too long a period, because they have to change accounts, telegram usernames, etc... due to hiding from the previous victim.