[Beware]New scammer scheme using exchange

[Eternad]

Recently some random guy message me on telegram and ask me to help him withdraw his balance to avoid tax. He is claiming that the exchange ask him to do KYC and he is not comfortable with that. Then he showed me his balance as proof.

He never ask me to do KYC for him but instead he ask me to create an account on the exchange so that he can transfer the funds internally then I will withdraw the balance to his metamask and gives me percentage.(You see, this scammer is very clever for giving me all the favor and he didn’t ask for anything).

Here’s comes the magic trick, When you create an account on the exchange, There’s 2 method you can choose which is via email or via wallet connect, You will never gonna create successfully an account via email method and you will be forced to connect your wallet instead to create account which we all know that it will lead to exposing your private key.

I knew from the start that this is a scam since I don’t know the guy and we don’t have any group in common. Also he is comfortable to send me the balance while I don’t know him personally. I just want to know his process that’s why I continue entertaining him so that I can share it here to warn newbie for this kind of scam scheme.


Keep safe!

[ultrloa]

Recently some random guy message me on telegram and ask me to help him withdraw his balance to avoid tax. He is claiming that the exchange ask him to do KYC and he is not comfortable with that. Then he showed me his balance as proof.

He never ask me to do KYC for him but instead he ask me to create an account on the exchange so that he can transfer the funds internally then I will withdraw the balance to his metamask and gives me percentage.(You see, this scammer is very clever for giving me all the favor and he didn’t ask for anything).

Here’s comes the magic trick, When you create an account on the exchange, There’s 2 method you can choose which is via email or via wallet connect, You will never gonna create successfully an account via email method and you will be forced to connect your wallet instead to create account which we all know that it will lead to exposing your private key.

I knew from the start that this is a scam since I don’t know the guy and we don’t have any group in common. Also he is comfortable to send me the balance while I don’t know him personally. I just want to know his process that’s why I continue entertaining him so that I can share it here to warn newbie for this kind of scam scheme.


Keep safe!

Scheme like that which they ask your private key in the end is quite rampant so its good to share since newbies could learn something new by using this scam technique. and peoppe should know that anything or anyone ask to connect your wallet or provide your private key is already a huge red flag so we need to stay away on this schemes.

[Ultegra134]

It's disturbingly annoying to have so many scammers on cryptocurrency groups. Telegram and Discord are filled with them. On top of that, some are posing as group administrators and are trying to scam people who are asking for assistance within legit groups, such as Beefy's or the official WalletConnect group.

It honestly sickens me, it's almost impossible to be assisted in any kind of group without being contacted by a scammer.

[decodx]

It's disturbingly annoying to have so many scammers on cryptocurrency groups. Telegram and Discord are filled with them. On top of that, some are posing as group administrators and are trying to scam people who are asking for assistance within legit groups, such as Beefy's or the official WalletConnect group.

It honestly sickens me, it's almost impossible to be assisted in any kind of group without being contacted by a scammer.

Yeah. Especially since these scammers usually spam you numerous times, from many different accounts, and there's no real way to block them all.
What really needs to be changed there is, the reporting system for scammers. What I mean by that is, where it's actually possible to report a scammer and receive a response. Telegram and Discord are the worst at this, with no options whatsoever on report. This needs to be changed.

[Lucius]

Recently some random guy message me on telegram and ask me to help him withdraw his balance to avoid tax. He is claiming that the exchange ask him to do KYC and he is not comfortable with that. Then he showed me his balance as proof

I have no intention of communicating with unknown people via Telegram, although I have it and use it very rarely. The best defense against all possible scams via social networks and similar apps is to simply refuse any business offers, especially those that seem too good to be true.

I just want to know his process that’s why I continue entertaining him so that I can share it here to warn newbie for this kind of scam scheme.

If you have already spent time proving that something is a scam, did you at least report that user?

https://twitter.com/telegram/status/1171880665412800512

[Rikafip]

If you have already spent time proving that something is a scam, did you at least report that user?

https://twitter.com/telegram/status/1171880665412800512

This works only for groups and channel, not for individual users and from what I understand, OP was contacted by  a single user.

Telegram and Discord are the worst at this, with no options whatsoever on report. This needs to be changed.

I don't know about Discord, but there are two ways to report Telegram users: via https://telegram.org/support and https://t.me/notoscam. Problem is that it usually takes more reports from different people for scamer to get his account tagged so in majority of cases its just the waste of time.

[tranthidung]

Recently some random guy message me on telegram and ask me to help him withdraw his balance to avoid tax. He is claiming that the exchange ask him to do KYC and he is not comfortable with that. Then he showed me his balance as proof.

It is not a new scam scheme. It is an old one.

Let me reveal that years ago, many scammers did it already. They contacted me and told me that they got issues with accounts and want to get help to make a transaction like 0.1 BTC, then I will get reward from it (maybe 0.05 BTC or 0.1 BTC). I don't remember exact deals I were offered but it is something like that.

Offer details can be different but this scam scheme is the same and not new.

Very basic rule, if a stranger contacts you first, gives you any deal relates with money, it's scam.

[Husires]

It seems that the scammers have developed a bit. Instead of creating a site with a balance and asking the user to deposit to withdraw the balance (the old trick), they are asking that you link your wallet to that site.

Newbies may fall into such scams because they think their coins are safe in their wallets, and some may write seeds on the site if asked to do so, so it will be easy to be scammed in this way.

MetaMask made things easier for beginners and scammers.

[Rruchi man]

Recently some random guy message me on telegram and ask me to help him withdraw his balance to avoid tax.

Everyday there's a new thread about a new method of how scammers operate. Telegram in subject has become very jam packed with scammers who previously opened up scam investment groups but it is now obvious that they have upgraded their crypto currency scamming method.

In all avoid any random individual who just pops up from the blue and offers you a percentage to complete a task. Don't think that you are the lucky one out of many to be offered a huge percentage, they try this method with many person's in one day hoping to take advantage of the greedy ones, don't be the greedy one.

[Coyster]

Everyday there's a new thread about a new method of how scammers operate. Telegram in subject has become very jam packed with scammers who previously opened up scam investment groups but it is now obvious that they have upgraded their crypto currency scamming method.

To be honest, they have upgraded nothing, this method is very popular, well, it would be new for newcomers who prolly have no knowledge or experience, but then even as a newbie one should still be able to sense what looks like a scam, or what looks just too good to be true, and we all can agree that once a stranger sends you a message talking about something like what is in the op, it is undoubtedly a scam.

Don't think that you are the lucky one out of many to be offered a huge percentage, they try this method with many person's in one day hoping to take advantage of the greedy ones

That is it, the promise of the percentage is what allures people to some of these scams, and that is only cause they believe there is free money waiting to be harnessed in crypto, and that is why scammers will always have victims.

[The Cryptovator]

Yea, often in Telegram I received such as DM. I think whoever use Telegram and added on any crypto group experienced the same. They are very clever and intelligent to turn your mind. So those who aren't familiar with such scams would fall into the trap. Thanks for sharing your experience with us. Hope newbies will take a lesson and save their assets.

[Scripture]

Yea, often in Telegram I received such as DM. I think whoever use Telegram and added on any crypto group experienced the same. They are very clever and intelligent to turn your mind. So those who aren't familiar with such scams would fall into the trap. Thanks for sharing your experience with us. Hope newbies will take a lesson and save their assets.

This is not a new anymore, you can easily block those users but of course expect to receive more since scammers are everywhere and they can easily bypass the system of Telegram.

Unfortunately, newbies are more prone to this since they don't analyze that much this is why its necessary to invest on knowledge first before putting any money on this market. Scammer will always find a new way to scam the investors always be careful.

[sheenshane]

They'd level up now.

I freshly remember the same scenario in your case but the difference is when it comes to withdrawal.  In the same procedure, someone asked me to create an account because he can't access the exchange site due to the country's restrictions, and then, without hesitation, he transfer all his funds to my account, and now when he said just withdraw it and transfer to his Bitcoin wallet, the exchange platform asked me to deposit half of the amount that I wanted to withdraw which is very suspicious.

That was on Telegram, we should better avoid dealing with strangers on Telegram.
BTW, thank you for the awareness and we hope this could be a lesson for those people who are greedy, they thought they will get easy money but it's the opposite, it will drain their entire wallets once they will be scammed.

[Yamifoud]

...
Here’s comes the magic trick, When you create an account on the exchange, There’s 2 method you can choose which is via email or via wallet connect, You will never gonna create successfully an account via email method and you will be forced to connect your wallet instead to create account which we all know that it will lead to exposing your private key.

This is the part to prove that he is a scammer. We can't really trust strangers especially when it talks about money.
He can't afford to do KYC but he can afford to scam people into thinking that you are stupid and innocent in about this. He got in the wrong person.

Scammers are too desperate by now, I don't know how these people still living in the darkness rather than find a moral job and work religiously they'll somehow be respected.

[qwertyup23]

Thank you very much for sharing this type of scheme, OP.

Generally, these types of scams are relatively difficult to spot given the nature of the activity he is asking. When you register in a given exchange, it somehow gives you the relief and security thinking that it might go smoothly. But the moment that when you were not able to create an account, that suspicion arose.

Again, anyone messaging you randomly sparks doubtfulness. No one would ever just go message someone and ask for an exchange without substantiating decent proof/evidence to the contrary. Let this post be a warning to most users to avoid dealing with scammers such as this one.

[Darker45]

To make it simple, avoid trusting any stranger online. Anybody coming from nowhere who suddenly reached out to you asking for a favor should be a suspect. Treat them as predators looking for a victim. Don't even entertain them. Don't even let them do their spiel. Let the conversation end with their 'his' and 'hellos.' One or two of them may really have something to say, but it's always better to err on the side of caution.

Most especially when that stranger seems to put his/her trust on you without any reason at all, that's already a clear proof of a scam.

[cryptoaddictchie]

Thats really something at least post the name of the exchange so that everyone is familiar with the scammer hub.

Cause if he ask for a famous exchange then thats really a legit problem but for an unknown exchange whose name are just recently resurface then be worried already cause there is also a registration using a wallet connect which is quite scary to do. Anything that needs private key approval is shady and dangerous for anyone.

[jamyr]

Recently some random guy message me on telegram and ask me to help him withdraw his balance to avoid tax. He is claiming that the exchange ask him to do KYC and he is not comfortable with that. Then he showed me his balance as proof.

. . . .

Yet he was comfortable filling up his balance with I would assume he said a substantial amount. Maybe from this point you already realized his up to something fishy.. Maybe telegram didn't have the "report user" in PMs because it would be a huge task to review report's legitimacy.

Thats really something at least post the name of the exchange so that everyone is familiar with the scammer hub.

+1 to this

[Ultegra134]

Thats really something at least post the name of the exchange so that everyone is familiar with the scammer hub.

Cause if he ask for a famous exchange then thats really a legit problem but for an unknown exchange whose name are just recently resurface then be worried already cause there is also a registration using a wallet connect which is quite scary to do. Anything that needs private key approval is shady and dangerous for anyone.

There's no point, these so-called exchanges are popping up every single day and shutting down a few days later, after scamming a number of people. Today it exists and tomorrow it's gone forever. One common characteristic I've seen them use is their domain names, which look sketchy and poorly thought.

A quick look at Reddit's r/scam sub Reddit will be enough to see a few examples.

[DVlog]

I faced this type of scammer a few years earlier. These people are mostly from telegram. It is obviously a scam because a centralized exchange doesn't require a decentralized wallet connection and a decentralized wallet doesn't need an email address to operate.

Recently some scammers created a fake exchange site with a WordPress template and fake listing with their scam token which they mostly airdropped to users. Some of my friends lose their funds when they try to sell their tokens.

[cryptoaddictchie]

I decided to not post the exchange name so that no one will click it and save it to there history. It will be my conscience if someone mistakenly register on it due to this post so I preferred not to brought up here the name.

The warning on this type of scammer would eventually be good if youll expose a full details especially the name. I mean its not like you are accusing them, but since your post almost says they are scam then might as well warn others 100% by giving its name, you are already helping a lot of members to avoid such exchange. I dont know but thats my opinion. Its like were hanging by a cliff with without the name. Or might as well open a scam accusation thread about them.

[tranthidung]

I decided to not post the exchange name so that no one will click it and save it to there history. It will be my conscience if someone mistakenly register on it due to this post so I preferred not to brought up here the name.

It is a good practice

• Avoid posting links of scam projects, scam websites or exchanges.
• Instead, you can put it into code block or something like exchangeA[dot]com.

Another thing is your message should be clear, from your topic title to your topic content. So readers won't misunderstand what you imply. Writing is an art and if you have good writing skills, you can convey your idea to text much better.

The warning on this type of scammer would eventually be good if youll expose a full details especially the name. I mean its not like you are accusing them, but since your post almost says they are scam then might as well warn others 100% by giving its name, you are already helping a lot of members to avoid such exchange.

OP meant scammers try to direct potential victims to an exchange to scam them. It does not mean that exchange is used for that scam is a scam exchange.

[cryptoaddictchie]

OP meant scammers try to direct potential victims to an exchange to scam them. It does not mean that exchange is used for that scam is a scam exchange.

Yes I understand that. But why OP is hesitant using the connect wallet right? If the exchange isnt a scam then its fine right? Also the scammer didnt ask anything more valuable to the users which means how would he get scam? Meaning he also believe that the exchange is either compromise or shady as scam site too. Cause how would the scammer knew anything about his created account without access on the exchange? Just my speculated observation.

[Lucius]

Just like what @Rikafip said, There’s no option in telegram to report the user if he directly message you. It’s only possible if he spam on the group. I just block him and create this post instead to help warn user.

It's no secret that Telegram is a paradise for scammers, but I have to admit that I didn't know that it was impossible to report an individual (direct via app) who is more than obviously engaged in criminal activities. This is just one more reason to warn everyone, especially the inexperienced ones, about all the dangers that await them if they use such apps.

However, it is possible to report an individual user directly to Telegram by sending them an e-mail with as much information as possible. It would be better if it could be done directly from the app, but it's still good to have such an option.

Address the email to abuse@telegram.org. Type in why you want to report that user in the message section. Make the message as long as possible with many details. Consider taking a screenshot of your chat with that person and adding it to the email as an attachment.

[Iadegbola34]

I have also received such kind of scam attempt message on Telegram.

I believe this is how yours happened too and even if it's not others can learn from mine as well.

Note: I didn't fall victim of the scam too

[Eternad]

I have also received such kind of scam attempt message on Telegram.
I believe this is how yours happened too and even if it's not others can learn from mine as well.

Note: I didn't fall victim of the scam too

Not exactly like this but there’s a similarity, The guy who contact reasoned out about IRS because he don’t want report his funds in that particular exchange that’s why he will internally transfer the money on the exchange to avoid tax then give me part of the savings in tax. But the end situation of the story is same in both our case. I believe these hackers is operating in group and sending random PM’s with different story.

[Hispo]

Those scammers are getting more clever as time passes it seems.
Thanks for sharing your experience.

Telegram is certainly a wild west when come to scammers, they roam freely there, I cannot join a legitimate crypto group without getting some of this guys sending me PM's. 

I have reached a point whenever I receive a "Hello" from some stranger I immediately block them, I used to try and make them lose time, play along a bit so I can discover their modus operandi, which always ended up being the same, either a super business opportunity I should not miss or someone needing/offering help. 

A bunch of losers.

[abel1337]

Those scammers are getting more clever as time passes it seems.
Thanks for sharing your experience.

Telegram is certainly a wild west when come to scammers, they roam freely there, I cannot join a legitimate crypto group without getting some of this guys sending me PM's. 

I have reached a point whenever I receive a "Hello" from some stranger I immediately block them, I used to try and make them lose time, play along a bit so I can discover their modus operandi, which always ended up being the same, either a super business opportunity I should not miss or someone needing/offering help. 

A bunch of losers.

True! This is why I do have separate telegram account for cryptocurrency, I created a separate one to filter out those spam messages. Telegram is a hotspot for scammers, I wonder if anyone fallen for this newer scheme of scamming. It's been a practice of mine not to tell anyone about my telegram that I'm using on crypto so any messages I will receive in my account is I consider them scammers since I don't interact that much on my telegram groups. I've seen many schemes over years and this scheme is relatively new to me. Scammers are evolving in different ways.