BTC/ETH contract in Ebay, looks very shady???

[Yaunfitda]

Does anyone here in the community has seen this kind of contract? specially in a market place such as Ebay?
It really looks like very scammy shady to me, 2 hours you will get xx BTC/ETH? Perhaps this is a new strategy for scammers and take advantage of Ebay?

What do you guys think?

https://www.ebay.com/itm/Ethereum-0-01-ETH-Mining-Contract-2-Hours-Get-0-01-ETH-Guaranteed/402189420558?hash=item5da45b880e:g:L~sAAOSwOiRekaAJ

[mk4]

Just as always with mining contracts, it's most likely going to be either a scam, or a total waste of money. Probably this dude just decided to try out selling on eBay instead of creating his/her own cloud mining website.

[supine]

Well even if it is true mining that offer such service their guarantee result is almost half of their asking price so why would we even invest on it?
Their asking price is $4 and a 0.01 ETH is only around $2 so why would we even do this kind of investment it seems like they are asking for donation instead of invest.

[pawanjain]

There are so many flaws in this trade to identify that it's an obvious scam.

1. They are selling a contract on ebay without actually providing a website for the mining.
2. It is similar to a cloud mining contract and as we all know most of the cloud mining is fake.
3. They are "promising" high returns and we all know HYIP is a scam.
4. The seller is definitely not trusted because he would be having a good rating if he was a genuine seller.

I can go on but these points are more than sufficient to identify the obvious scam.
you should probably report it so that other newbies don't get scammed by this.

[Jating]

Never seen this before, but you can smell that this is scam from a far. Don't bother to read those reviews, those for sure are fake. 0.01 ETH for two years is an offer that you can't refuse, those scammers are really a genius, know the psychology of human greed.

But thanks for the OP for exposing this kind of scam attempts in E-bay, as I have said, this is new to me, and I agree that this should be reported to stop these scammers.

[Juggy777]

Does anyone here in the community has seen this kind of contract? specially in a market place such as Ebay?
It really looks like very scammy shady to me, 2 hours you will get xx BTC/ETH? Perhaps this is a new strategy for scammers and take advantage of Ebay?

What do you guys think?

https://www.ebay.com/itm/Ethereum-0-01-ETH-Mining-Contract-2-Hours-Get-0-01-ETH-Guaranteed/402189420558?hash=item5da45b880e:g:L~sAAOSwOiRekaAJ

@Yaunfitda this is definitely a scam, and FBI had already warned people to be aware of such scams taking place on reputed e-commerce sites like eBay and Amazon.

There are so many flaws in this trade to identify that it's an obvious scam.

1. They are selling a contract on ebay without actually providing a website for the mining.
2. It is similar to a cloud mining contract and as we all know most of the cloud mining is fake.
3. They are "promising" high returns and we all know HYIP is a scam.
4. The seller is definitely not trusted because he would be having a good rating if he was a genuine seller.

I can go on but these points are more than sufficient to identify the obvious scam.
you should probably report it so that other newbies don't get scammed by this.

Never seen this before, but you can smell that this is scam from a far. Don't bother to read those reviews, those for sure are fake. 0.01 ETH for two years is an offer that you can't refuse, those scammers are really a genius, know the psychology of human greed.

But thanks for the OP for exposing this kind of scam attempts in E-bay, as I have said, this is new to me, and I agree that this should be reported to stop these scammers.

@pawanjain I completely agree with your points, and hopefully all who read it will avoid falling for such scams. Lastly @Jating the review that you’re seeing are paid reviews, which are bought by the seller by contacting online workers who often post such reviews for a fix sum of money, hence I don’t trust any reviews I see online unless those accounts are verified.

Sources:

https://www.medianama.com/2020/04/223-fbi-cryptocurrency-fraud-surge/

https://www.brightlocal.com/learn/fake-reviews-are-a-real-problem-8-statistics-that-show-why/

[Keiser Soze]

Some people do sell crypto on eBay for Paypal (disguised as mining contracts).

[Krislaw]

First red flag I noticed here is getting double of your of the amount you paid in 2 hour.
Secondly, cloud mining are scams. They might pay early bird but they are definitely going to end up running away.
This ones can't even afford to build a website 

[TimtheYoutuber]

I would not be trusting any cloud contract on eBay. Cloud mining in general is weak.

[Tytanowy Janusz]

First red flag I noticed here is getting double of your of the amount you paid in 2 hour.

Double or half ? This guy is selling 0.01 ETH contract for 4.4$ when in fact it is worth 2.4$. It may not be scam (in term that you won't receive ETH) you will most likelie receive it but it is well overpriced. I think that this guy simple feeds on the potential lack of insight into crypto prices by statistical ebay user. That's all.

[tabas]

If I see "guaranteed" it's already a red flag.

I would not be trusting any cloud contract on eBay. Cloud mining in general is weak.

Yeah, even the legit mining companies can't give this confidence and most of their contracts are sold out. So, if something like this pop, it's already fishy.

[hv_]

Just as always with mining contracts, it's most likely going to be either a scam, or a total waste of money. Probably this dude just decided to try out selling on eBay instead of creating his/her own cloud mining website.

Yep

[Kelvinid]

Maybe we are just speculating but to think about guaranteed at a certain time, people will surely think there is a shady thing on it. Of course, people will think this as this is also the most common trick that scammers attract investors, and those who are new to this and those who want instant profit will definitely take a bite.
It was great that OP seeing this and it gives warning to the people around who come into eBay. I don't know how/why eBay has allowed this scammingshady trick as this will might ruin their reputation.

[Twinkledoe]

First red flag I noticed here is getting double of your of the amount you paid in 2 hour.
Secondly, cloud mining are scams. They might pay early bird but they are definitely going to end up running away.
This ones can't even afford to build a website 

And that is the reason why they are doing it in ebay. Cloud mining are only good at the beginning, but most of the time you can't even get your initial investments even from legit cloud mining websites. High possibility that they are just ripping money from newbies in crypto especially now that there are noncrypto users who are looking at the possibility of investing in crypto.

[pixie85]

First red flag I noticed here is getting double of your of the amount you paid in 2 hour.

Double or half ? This guy is selling 0.01 ETH contract for 4.4$ when in fact it is worth 2.4$. It may not be scam (in term that you won't receive ETH) you will most likelie receive it but it is well overpriced. I think that this guy simple feeds on the potential lack of insight into crypto prices by statistical ebay user. That's all.

This!

I think it's legit because he's selling at a profit not at a discount like he would be if it was a scam. He's already making money on this auction without having to scam anyone.

His profit is about $2 so even after paying taxes and giving ebay its share he's left with $1 per trade.

I think he bought ETH for less than $2.5 so his profit is even greater.

[btc_angela]

Some people do sell crypto on eBay for Paypal (disguised as mining contracts).

Yes, we just don't discuss this is this community because those who are trying to scam crypto enthusiast have websites.

This!

I think it's legit because he's selling at a profit not at a discount like he would be if it was a scam. He's already making money on this auction without having to scam anyone.

His profit is about $2 so even after paying taxes and giving ebay its share he's left with $1 per trade.

I think he bought ETH for less than $2.5 so his profit is even greater.

This is also possible, but we can't really be sure though, I think this case is on the gray area. Maybe this strategy has been going on in ebay for many years and no one is bitching around the community about this tactic so we can't really say that this is a scam.

[davis196]

I've seen this type of listings on eBay around 7 months ago.
It seems that the sellers have positive feedback,but the fees of buying crypto using this method are insane.
AFAIK,selling cryptocurrencies on eBay isn't allowes,but selling such "mining contracts" is just a way to hide the fact that those people are selling actual cryptocurrencies and to avoid eBay ban.I don't think that those eBay sellers have mining hardware and are actually mining Bitcoin.

[The Cryptovator]

I believe Ebay doesn't monitor scams. Its seems self bouncing sales post. There is lots of positive feedback which have created by a scammers team. The scam technic isn't new but scammers changing their way to gain trust from buyers. High return within short time isn't something potential legit platform. Buyers should realized there isn't such as money making machine. It's quite surprising that there is no any negative feedback but all feedbacks are positive with five start. Really scared.

Those peoples have account on Ebay they could use Report Item, perhaps it would save some innocent/greedy peoples.

[Tytanowy Janusz]

I believe Ebay doesn't monitor scams. Its seems self bouncing sales post. There is lots of positive feedback which have created by a scammers team. The scam technic isn't new but scammers changing their way to gain trust from buyers. High return within short time isn't something potential legit platform. Buyers should realized there isn't such as money making machine. It's quite surprising that there is no any negative feedback but all feedbacks are positive with five start. Really scared.

Those peoples have account on Ebay they could use Report Item, perhaps it would save some innocent/greedy peoples.

It's because this guy is selling ETH with profit to people not knowing how much ETH is worth. He is selling 2$ for 4$. If you are stupid enought to buy it you will net become smart after reciving 0.01 ETH. You will rate it 5 stars and enojoy your 0.01 ETH woth 2$.

In this type of deal (selling 2$ for 4$) scamming is less profitable than not scamming because a satisfied customer  will rate 5 starts, buy more or bring friends.

[LoyceV]

Their asking price is $4 and a 0.01 ETH is only around $2

The "mining contract" is no doubt BS, but the 0.01 ETH is probably real. He'd be stupid to scam people over this, because he actually found a profitable business model. I'm amazed he sold 279 "items" already! After Paypal and eBay costs that still leaves a decent profit, so there's not really a reason not to send the crypto.

It's overpriced, but any other seller adds a margin to the "product" being sold too. I'm more wondering why anyone would even want to buy $2.40 worth of ETH. What's the use of that?