LocalBitcoins BEWARE of fraud!!!

[matthewh3]

I sold £200 of bitcoins to - https://localbitcoins.com/accounts/profile/cooperjoe1/ - by instant bank transfer and they paid me with stolen details.  Now my bank account is frozen and now my Christmas money has not been paid in.

[DannyHamilton]

I sold £200 of bitcoins to - https://localbitcoins.com/accounts/profile/cooperjoe1/ - by instant bank transfer and they paid me with stolen details.  Now my bank account is frozen and now my Christmas money has not been paid in.

This is the sort of reason I would only use localbitcoins.com to meet up with someone locally and exchange physical currency for bitcoin.  Accepting reversible payment systems (such as paypal, credit card, bank transfer, etc) over a long distance with an anonymous person and sending them a non-reversible payment such as bitcoin or mailed cash is a good way to find scammers who will take your money.

[adamstgBit]

bitcoins biggest problem is the problems that come up when dealing with the hacked to shit fiat system.

[matthewh3]

The bank (HSBC) said they may be closing my account and said I should have had a business account, even tho I told them it was only a hobby  

[adamstgBit]

The bank (HSBC) said they may be closing my account and said I should have had a business account, even tho I told them it was only a hobby  

wow!

do you do alot of these instant bank transfer for bitcoin?

[adamstgBit]

The bank (HSBC) said they may be closing my account and said I should have had a business account, even tho I told them it was only a hobby  

kinda crazy how you are a the victim of fraud, and they want to punish you for that.

[mccorvic]

bitcoins biggest problem is the problems that come up when dealing with the hacked to shit fiat system.

This.

But really, you should always be aware of fraud.

[kangasbros]

I think it is safe to use bank transfers, if you deal with reputable members. For new members some kind of advanced confirmation should be required.

However I don't have idea what it could be. If a hacker gains access to a bank account, even if you send a confirmation payment, the hacker can fake it.

[franky1]

using localbitcoins.. to not do a face-to-face meet???
you might aswell of just used the bitcoin OTC..

i would only use localbitcoins for face to face cash in hand for bitcoins sent via smartphone, spending atleast 10 minutes (one confirm) to have a little chit chat and develop a business relationship, as you never know when you may want to meet up again. ofcourse meet in a public place and if you see someone with a baseball bat, don't believe he just came from a ball game, and run!

[mccorvic]

ofcourse meet in a public place and if you see someone with a baseball bat, don't believe he just came from a ball game, and run!

I'm glad I'm not the only one who suffers from this crippling fear

[DannyHamilton]

ofcourse meet in a public place and if you see someone with a baseball bat, don't believe he just came from a ball game, and run!

I'm glad I'm not the only one who suffers from this crippling fear

Meet in the lobby of the local police station? Or a local bank?

[adamstgBit]

ofcourse meet in a public place and if you see someone with a baseball bat, don't believe he just came from a ball game, and run!

I'm glad I'm not the only one who suffers from this crippling fear

Meet in the lobby of the local police station? Or a local bank?

i lol'd

[mccorvic]

Meet in the lobby of the local police station? Or a local bank?

I also lol'd.

[DannyHamilton]

Meet in the lobby of the local police station? Or a local bank?

i lol'd

Meet in the lobby of the local police station? Or a local bank?

I also lol'd.

 

Why not?

[matthewh3]

The bank (HSBC) said they may be closing my account and said I should have had a business account, even tho I told them it was only a hobby  

kinda crazy how you are a the victim of fraud, and they want to punish you for that.

I offered the bank manager the phone number thief's used and he just said we are not the police.  Yet he still wants me to come in to the bank on Christmas eve with proof I was selling bitcoins for the £200.  I've printed-off the messages between me and the thief on localbitcoins and wrote down there mobile number they used on the print-off's. I've not been paid my Christmas money now my account is frozen and I may not be able to get use of the account until after Christmas or ever again.  So its Christmas and I have no bank account and I can't get paid 

[mccorvic]

Meet in the lobby of the local police station? Or a local bank?

I also lol'd.

 

Why not?

Well, I lol'd because it's just a strange mental image.  A bank wouldn't be the worst idea, but at a police station they might think there's a drug deal goin' down or something.

[franky1]

pubs/bars/coffee houses are more likely spots to meet.. the main point is use localbitcoins for face to face, and bitcoin OTC for non face to face (more chance of fraud transactions) as they atleast have a reputation system to weed out the majority of scammers.

and if a non face to face transaction is requested and refusal to use bitcoin OTC's reputation checker happens.. then don't do the transaction.

its common sense that if they dont want to meet, although they supposedly live in your area to have found you and they dont want to be background checked for trust then your just asking for trouble by continuing the transaction.

[DannyHamilton]

Meet in the lobby of the local police station? Or a local bank?

I also lol'd.

 

Why not?

Well, I lol'd because it's just a strange mental image.  A bank wouldn't be the worst idea, but at a police station they might think there's a drug deal goin' down or something.

LOL, can you imagine dealers of illegal drugs using local police stations for their handoffs for "safety".   
I'd love to see the news story on that one when they eventually get caught.

A one time exchange at a bank would probably go unnoticed.  If you started setting up shop in the bank lobby with people coming to you all day long (walking over from their bank teller where they just withdrew their cash to get bitcoins from you?) you'd probably run into an issue.

The best option is to choose locations that have both:
Higher value targets, and pre-existing security/defense of the public.

Banks fit this criteria, any other suggestions?

[DannyHamilton]

The best option is to choose locations that have both:
Higher value targets, and pre-existing security/defense of the public.

Banks fit this criteria, any other suggestions?

Perhaps just outside the security line at a commercial airport?

or

Inside a casino?

[mccorvic]

LOL, can you imagine dealers of illegal drugs using local police stations for their handoffs for "safety".  
I'd love to see the news story on that one when they eventually get caught.

A one time exchange at a bank would probably go unnoticed.  If you started setting up shop in the bank lobby with people coming to you all day long (walking over from their bank teller where they just withdrew their cash to get bitcoins from you?) you'd probably run into an issue.

The best option is to choose locations that have both:
Higher value targets, and pre-existing security/defense of the public.

Banks fit this criteria, any other suggestions?

I can swear that I have actually read a few news stories in the past where people have tried to do drug sales right in front of/near/inside police stations.

I imagine if you setup shop anywhere other than your own residence and sat there all day long that would be an issue

For some reason I can't really imagine airports working.  People there are ultra-paranoid and on the look out for anything suspicious.  Casinos I think are busy enough places that, as long as you aren't looking to shifty, you'd probably be ok.

I also think that anywhere you'd have to pass through a "front gate" first might be nice.  I doubt a zoo would let someone just stroll through with a big baseball bat