How the fake exchange traps newbies.

[ScamViruS]

By creating fake exchanges, scamming people is a known tactic of scammers. We have seen many fake websites before and now. It is actually that scammers use human greed. Where people see little profit, they jump there without any proper verification. They lost their money and realized that it was a scam website. I will try to discuss how these scam websites are promoted by scammers.



These websites often use Telegram to promote. If you are in the Telegram group of a major exchange, and are an active member on the group. So here is 90% chance you will get private message from scammer. Scammers will politely chat with you. He would say it as if you really believed he was in trouble. He will offer you a good amount of money, if you help him. This is a trap. He'll say you create an account on this exchange. I am transferring funds from my account. He will transfer some fake funds to your account. Whenever you go for withdraw, they will ask you to deposit 0.02 BTC for verification. If you asked the scammer about this deposit, he will tell you to deposit and verify, then I will give you more money if you success! If you deposit any fund will never get your money back.



Most fake exchanges use the template of CEX.io most of the time. This is one of their most used techniques. If you find a link to such a website, then it is 100% scam website (except CEX.io). I have already posted on Bitcointalk many time about such scam website.

You can check.
[SCAM Alert] Briefcrypt.com offer 0.8 BTC . Beware......

[SCAM Alert] Bitani.org scam exchange....

[SCAM Alert] Bitcomion.com scam exchange.

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[Lucius]

A technique that is already well known and has been discussed a lot in this forum. The golden rule is that no legal exchange will ask you to pay a certain amount for verification purposes, only fraudsters do this. But if someone is looking for you KYC (your documents) to withdraw, it can also be attempt to get your ID which then can be used for the purpose of identity theft.

The whole point of the story is that you do not trust unknown people who contact you through social networks, that you do not use links that someone sends, and that you do not send money or documents without thorough checks. No one can fool you, if you don't allow it, there is no easy profit, stay on the safe side.

[cryptoaddictchie]

Ive got a pm before on telegram asking for help. Of course I was suspicious about his inquiry regarding withdrawing his fund on an particular exchange which is unfamiliar. He was offering me to withdraw his 1.5btc and gonna give me 0.2btc commissioned due to the reason that he is from country that has been banned for crypto trading. The task is simple, I should create an account on that exchange then he will transfer the btc to my address deposit. I will withdraw then give to him via normal btc wallet. Well I already got a hint of scam works. But I just ride with it. Of course this is tempting. I just said to him that sorry, if its known exchange such Binance or Kucoin will make a deal but if you insist that exchange no thanks. (forgot the exchange) It same process on what OP explained but the difference is I didnt come to the point where I need to deposit, cause I alreay smell something fishy..

Good OP, others should be aware of this. I didnt post my experience since I dont screenshot the evidence and our discussion.

[Findingnemo]

Very old trick but still people falling for it.

And also you forgot to add the activity status of the exchange,most likely it shows fake numbers of total active users and trade orders which was copied from other exchange's data or completely some randoms shits.

Don't get attracted to high commission for helping the users because you actually don't have to give him anything if you can be able to withdraw his money.

[nakamura12]

I noticed that the person behind the scam exchange just to trap newbies didn't know how to speak english well. In my opinion, it is recommended to know the english language if the exchange is aiming to become an international exchange. Also when someone ask you for your help to withdraw his btc is obvious enough that it is a scam but newbies didn't know this and they should be notified with this information to avoid getting trapped.

[1miau]

Sad to see that it's still working for scammers.  

Last year on Telegram I had someone from China who claimed Bitcoin was illegal in China and banned, so he needed someone from a different country to "make a withdrawal" but just days before the court of China declared that Bitcoin is not illegal in China: Court Declares Bitcoin Legal in China as a ‘Virtual Property’  

Sh*t scammers are too dumb to do research which country they choose to scam people.  

Next time we can also tell him to use VPN.  

[LbtalkL]

I keep getting a message like this from telegram they use different website but same style, my advice if someone pm you like this "hello, how are you, etc " without stating what is his/her business with you first, I suggest block it right away and remember admin don't pm first.
Some scammer on telegram are very desperate they even created a copy of well knowned group to fool you so tune up your privacy settings so no one can add you on any groups.

[verita1]

Honestly, we must be very careful with fake exchanges, often you find someone on Telegram who wants to invite you to invest in a platform that promises big profits. It is best not to listen to them and simply invest your money in reputable or verifiable exchanges. When choosing a new exchange platform we must check all the legality parameters.
We must also be very careful with trading platforms with false volumes. Once I exchanged some tokens and lost a good part of my money.

[btcltcdigger]

I've had a couple contact me as well.
Usually it's a sad story of a poor chineese fellow who has his life savings there, and he needs a non-chineese trusted person to withdraw.
In exchange he offers 20% of the total value.

And the exchange does look kinda legit, old domain, bots wash trading... except when you want to withdraw, it asks 0.XXX BTC deposit with which you prove you're not a bot.

Be careful guys

[tbct_mt2]

I call them as scam exchanges. Fake or real, it does not matter. They can use fake domain names (with punny codes, etc.) or start with entirely new domain names. Nevertheless, they scam their customers, steal money and run away. That's all of their ultimate purposes from setting up and running their exchanges.
I have a topic for newbies, aims at investigations on exchanges before using: Newbies - Read before using exchanges or investing

[BITCOIN4X]

~snip

I think this is an attempt that is too stupid because we can detect their efforts within a few seconds after they ask us to withdraw the amount of BTC that is in the exchange they are showing and give us a part of it.

Exactly last year when I got a PM on a telegram from someone I did not know and asked me to withdraw a number of BTC on the exchange because the account was blocked due to a ban on the country where the person was, and I believe this story is almost the same as that experienced by some other people here. Without thinking, I immediately blocked the conversation and reported it as spam. Apart from my actions, this can prevent fraud, I also dont need to spend a lot of time serving the persons fraudulent efforts. Really this is a very disgusting endeavor and as a crypto lover I must say that be careful and dont easily trust people you dont know when it comes to money.

And the exchange does look kinda legit, old domain, bots wash trading... except when you want to withdraw, it asks 0.XXX BTC deposit with which you prove you're not a bot.

You dont need to go too deep and try to see the exchange activities they show because I think this scammer attempt is something complex where exchanges are phishing sites assuming that their main efforts to get a number of btc from the deposit fail and they still have a chance to stole our data through a phishing site. Have you ever thought about this, friend?

[Krislaw]

I've come across so many of these guys on telegram, they tell you their country is restricted from trading and promise to give you commission. They send you the coin and you are being told to deposit some BTC because their system detects fraud. Just stay away and don't send anything
Example is a user that was spamming here yesterday with this link

Code:

https://xchange-coin.ga/

User profile
https://bitcointalk.org/index.php?action=profile;u=2784019

[KrisAlex18]

By creating fake exchanges, scamming people is a known tactic of scammers. We have seen many fake websites before and now. It is actually that scammers use human greed. Where people see little profit, they jump there without any proper verification. They lost their money and realized that it was a scam website. I will try to discuss how these scam websites are promoted by scammers.



These websites often use Telegram to promote. If you are in the Telegram group of a major exchange, and are an active member on the group. So here is 90% chance you will get private message from scammer. Scammers will politely chat with you. He would say it as if you really believed he was in trouble. He will offer you a good amount of money, if you help him. This is a trap. He'll say you create an account on this exchange. I am transferring funds from my account. He will transfer some fake funds to your account. Whenever you go for withdraw, they will ask you to deposit 0.02 BTC for verification. If you asked the scammer about this deposit, he will tell you to deposit and verify, then I will give you more money if you success! If you deposit any fund will never get your money back.



Most fake exchanges use the template of CEX.io most of the time. This is one of their most used techniques. If you find a link to such a website, then it is 100% scam website (except CEX.io). I have already posted on Bitcointalk many time about such scam website.

You can check.
[SCAM Alert] Briefcrypt.com offer 0.8 BTC . Beware......

[SCAM Alert] Bitani.org scam exchange....

[SCAM Alert] Bitcomion.com scam exchange.

Well, there are so many hackers and scammers in this virtual world, they will try their best just to steal what they want to you, I am also using telegram and I already encountered scammers on that website. Here is the story, I asked about my problem on my yobit account on the telegram group, then after I sent my message, someone have message me about my problem and he sent me a link, saying that I need to log in on that link so I can recover my account on my yobit, by the way, that is my problem. Once I opened the link and see the website, I research about it before I sign up my account, and based on my research there is no reviews that I can see on the website so I didn't tried signing up the website. After that I messaged him saying that "F*ck scammer" and then he don't send me message anymore, and by that I can say that he is scammer.

The thing here is you should have make some research about some website that you are going to try, be wise and don't trust anyone so easily.

[JohnBitCo]

The problem with this type of scam is that they will first trap you in a greed to get free money and all sort of thoughts come in your mind that once you get this big amount you will run away with it etc. Then they ask you to deposit a minimal amount which is very less as compare to the big amount which you will be getting and your mind agrees to pay that amount. As soon as you pay such amount, they just vanish and block you everywhere where they are chatting with you.

[btcltcdigger]

You dont need to go too deep and try to see the exchange activities they show because I think this scammer attempt is something complex where exchanges are phishing sites assuming that their main efforts to get a number of btc from the deposit fail and they still have a chance to stole our data through a phishing site. Have you ever thought about this, friend?

I's no concern to me, because for every exchange i use autogenerated password, and it's always different.
Yeah, i guess some ppl who use same details for everything could get hooked, but i try to avoid these mistakes as much as i can

[ScamViruS]

And also you forgot to add the activity status of the exchange,most likely it shows fake numbers of total active users and trade orders which was copied from other exchange's data or completely some randoms shits.

These fake exchanges do not have any trading terminal. If you click on the trading options of their website, they will bring back you home again. Only registration options work on their website. If you register on their website, you will get the deposit address. You have to give the address back to the scammer, he will transfer the fake funds to your account! 

[ScamViruS]

Bump

[smyslov]

These scammers used to do that in gambling where you will have a deposit bonus and the only way you can withdraw it is by depositing money on the gambling site after it's gone, now they are resorting to using exchange because there are so many exchanges right now, always apply the best rule if it comes from telegram ignore them, or do a research or ask here, you can save your money doing this.