Buying house with fake tokens

[re-start]

I read in the local news that a person bought several houses with fake tokens. He has defrauded more than 1.2 million dollars and now, house owners have a worthless fake token. This is not new. We have seen different scams over the years by using cryptocurrencies! But I read people's comments and seems they are angry.
A good event can change people's views of cryptocurrencies.


what do you think guys?
If you have an interesting idea, I can use it and share the result here for you.


Update:
 
That person has been arrested.
I was reading a newspaper with my brother and I only saw this description. There was no name or address.
I texted my brother to bring me that newspaper to read it again.

Update2:

Well, I decided to close this topic. Because I can't find the source link and I don't want to confuse you guys.

[Yaunfitda]

Can you share the links though? Because I'm thinking, what kind of fake token this scammers used? And I think the sell will be voided by law because it's obvious that he didn't pay it. So the lesson here is to really first everything first before accepting any transaction that involved something like this. In the first place, if seller is not aware then why would he accept crypto in the first place? There are a lot more questions that answer in this case. And that is why it's better to get the whole story first as to what transpired and how this criminals pulled this scam so that we are going to be warned at least and know the MO.

[Takyeon]

I don't believe this, unless you aren't sharing every details available, house owners have access to what we called proof of ownership and if someone can use a token to buy those properties how are the owners able to pass the proof of ownership to the buyer? This is a case that can be solved in court.

[GreatArkansas]

Buying a house is really difficult because there are a lot of papers needed from the sellers and buyers.
The scammer here is really dumb to use fake tokens to buy property, not a good move to scam people. I don't believe this, maybe fake news.
Even if he/she successfully bought using the fake token, what will happen next? If there's a problem from the transaction, the scammer will not be succesful at all.

[Coin_trader]

I read in the local news that a person bought several houses with fake tokens. He has defrauded more than 1.2 million dollars and now, house owners have a worthless fake token. This is not new. We have seen different scams over the years by using cryptocurrencies! But I read people's comments and seems they are angry.
A good event can change people's views of cryptocurrencies.


what do you think guys?
If you have an interesting idea, I can use it and share the result here for you.

Is this even possible? How come does the real estate agent allowed this kind of transaction that put the buyer at risk. A lawyer that will notarized the deed of sale will surely question this kind of transaction so how did story actually happened.

Please provide link to the source to verify the authenticity of this story because it’s so hard to believe that this kind of story will actually happened in real life especially the amount of money involved is very huge for this kind of risky trade to slide.

[Wexnident]

Tried looking for it with a quick lookup but I couldn't find it. This is highly unlikely imo for real estate since they don't necessarily accept crypto as payment in general, they only accept fiat and even if they actually did accept crypto, you'd understand that they have at least some form of understanding about the crypto scene. Now if these "fake tokens" were actually valued at the start of the purchase but dropped at some point which lead to the value dropping to zero, I think the real estate agent would be at fault (since they should know about the volatility of crypto at the point when they actually accepted it as payments). It'd be a different thing if it really was a fake token though and for some reason, the agent still accepted the purchase.

[MAAManda]

No direct link to news = Fake, I've even searched for news about this on google, but I didn't get any results. And if this is the case, it shouldn't take long for the homeowner to get his rights back because he was duped into buying the house. Maybe the first thing the OP can do is share a valid news link regarding this issue, then we can continue the discussion.

[coin-investor]

I read in the local news that a person bought several houses with fake tokens. He has defrauded more than 1.2 million dollars and now, house owners have a worthless fake token. This is not new. We have seen different scams over the years by using cryptocurrencies! But I read people's comments and seems they are angry.
A good event can change people's views of cryptocurrencies.


what do you think guys?
If you have an interesting idea, I can use it and share the result here for you.

If this is true since you did not post proof that it really happen then Those owners can recover their houses because they received fake tokens this is fraud the buyer can go to jail if the seller can prove that they received fake tokens, its easy to recover those houses because it's back by documents and transactions, it's different if they bought something in the internet like software or a peer to peer transaction, they need a good attorney to recover those houses if I am buyer I would not even think of buying a house with fake token because its easy to prove your crime.

[X-ray]

How dumb those house owners are. I guess if they have almost zero knowledge about crypto and that's why he was accepting scam token for their house lol. Those owners must be stupid enough. They didn't even try to talk with others who understood so well before tried to accept crypto as payment.
You shall search the link to that news or some members here may not believe it. I think that must better rather than creating a topic without any link

[Kalchef]

If this is true the buyer should be the scammed victim because no real documents were passed on to him, he sent tokens to owners and he believed that he is the real owner? Where is the proof that he is the owner? Kinda case that gets solved easily in courts.

[Gozie51]

If this is true the buyer should be the scammed victim because no real documents were passed on to him, he sent tokens to owners and he believed that he is the real owner? Where is the proof that he is the owner? Kinda case that gets solved easily in courts.

I think they say you can't put something on nothing and you think it will stand. This means the matter is going to end in litigation in the court. If the seller will confirm and proof that he received some fake token in payment of his house, the buyer may have to forfeit what he has benefited. This is a matter that will be settled in court and the fact it should involve lots of money.

[Johnyz]

Is this real? Do you have any proof OP with regards to this one? because buying a house will take a lot of documents but if that scammer really great on scamming people, then it can be more easy for him/her especially if the property is located Rural area, but I still doubt about this story.

If buying property can easily be acquired like this, I think there's something wrong with the system on that country and needs to be address or else many will still fall on this kind of scheme. If you are not into crypto yet, don't trust any token or anyone that is sending crypto as their mode of payment, this is too risky.

[nira09]

I read in the local news that a person bought several houses with fake tokens. He has defrauded more than 1.2 million dollars and now, house owners have a worthless fake token. This is not new. We have seen different scams over the years by using cryptocurrencies! But I read people's comments and seems they are angry.
A good event can change people's views of cryptocurrencies.


what do you think guys?
If you have an interesting idea, I can use it and share the result here for you.

Sorry, I also doubt the news you convey, How can someone accept payments using Crypto when he doesn't know about Crypto. In addition, buying and selling a house is a large transaction that requires legality, so it should be easy to find a buyer who cheated on him and the seller can sue the buyer for fraud.

[minairia3]

I have never heard of this before. A fake token? How can you sell a house to a strange man with a fake token?
Very unlikely, you should provide more information: what is the name of that fake token called?, and how did the householder trust the scammer with a token that is not on coinmarketcap. The householder wouldn't be stupid enough to exchange large properties for crypto without any crypto knowledge.

[Nrcewker]

I read in the local news that a person bought several houses with fake tokens. He has defrauded more than 1.2 million dollars and now, house owners have a worthless fake token. This is not new. We have seen different scams over the years by using cryptocurrencies! But I read people's comments and seems they are angry.
A good event can change people's views of cryptocurrencies.


what do you think guys?
If you have an interesting idea, I can use it and share the result here for you.

Not to blame the scammer. Here the seller is dumb.
How can he sell the house by just keeping this worthless tokens? These only proves that the seller has huge amount of money, so he doesn’t really care, or else he wanted to get rid of the house.
Nevertheless this is not new to us that someone got scammed due to this token shit. And I can still see that many people are running to hold as many tokens as they can.
Only show interest in tokens which are backed up by famous personalities. Beware of scam.

[Smitty Werben Man Jensen]

how can people trust fake tokens? this really confuses me, tokens have their own smart contracts,
and of course it can't be rigged, although not everyone is smart in this,
but is it possible that a seller who receives fake tokens doesn't know anything about cryptocurrencies? really very weird for me.

[cryptoperkele]

I read in the local news that a person bought several houses with fake tokens. He has defrauded more than 1.2 million dollars and now, house owners have a worthless fake token.

Nothing in this make any sense. What do "fake tokens" even mean? And obviously officials would step in at the moment they realize it's a scam. Not to mention you need to report where you got the money from when you are buying houses. You have no source for this and this sounds like a made up story.

[globalpain]

what kind of fake token?, even though there are lots of altcoins that are verified through their smart contracts,
but are there still scammers? I'm really curious why can Fake tokens be accepted as a means of payment?

[salad daging]

No direct link to news = Fake, I've even searched for news about this on google, but I didn't get any results. And if this is the case, it shouldn't take long for the homeowner to get his rights back because he was duped into buying the house. Maybe the first thing the OP can do is share a valid news link regarding this issue, then we can continue the discussion.

This is so interesting it really needs a link for us to know about this scam and is it on the global news yet?
I really wonder why this can happen even though buying a house requires some important letters and a valid transaction so this is buying with fake tokens whether the agent really doesn't know the token or what, so if there is no link we can't conclude it.

Indeed, there are many frauds with many cases happening, I often see it because there is news in the article, therefore about fake token fraud to buy a house, I just heard about it now.

[so98nn]

That’s lot of money and kinda big fraud but never read any news like this before. Sure there are bunch of frauds already happened in the crypto space and not just fake token but fraud cases with the bitcoin too. That’s sad because nonetheless some of them will always ruin the rim of new technology. Hope so they get their money back some how. That’s lot of money and they lost the house for nothing.