Buying house with fake tokens

[BuNga_cute]

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.

Actually, fraud is everywhere, not only in the crypto world. Therefore we need to be wise in every decision we will take, especially those involving
large amounts of money, we should not rush into making decisions. I don't know if what the OP said is true or not, for sure buying a house with
fake tokens in my opinion is very difficult to do, because it involves large amounts of money. Usually home sellers if they accept payments with
crypto will definitely ask for payment in Bitcoin or top altcoins, I doubt any house sellers will accept new coins or shitcoins. Unless the seller of
the house really trusts the buyer, so the seller of the house ended up being deceived by the buyer. Because fraud will easily occur if the victim
trusts the fraudster. Usually professional fraudsters always build a good image first to their victims, so that they can easily commit fraud.
A lesson for all of us to always be careful in making decisions in the crypto world. Moreover, we all know that the crypto world is prone to fraud.

[isaac_clarke22]

~

Curious to where this came from, OP. I have not heard any news yet pertaining that people paid for such high amount using non-Bitcoin or non-ETH. Do people think that tokens are all tied too much directly to Bitcoin that is why they are allowing such payment method?
I am pretty sure that people would at least accept Bitcoin first and the seller could have checked the token's price first since that is really the usual procedure they would do.
Surely the seller would appeal on this transaction right?

[evichi]

I think more information is required to verify if this actually took place: The type of token used for the tranasaction, news source, location of the house to be purchased, etc. Purchasing a property like house, requires lots of paperwork, lawyers, transfer of ownership/deed of conveyance, etc. The buyer cannot own the property when the proper signatories have not take place. Buying house, IMO, is not faceless exercise that can be conducted without knowing the buyer. Assuming the fake token was discovered at a later time, then the seller have to involve experts/lawyers to track the transaction as this will be s serious court case. The buyer must prove that he sent the token/coin and verify his address. Both buyer and seller transaction hash will be studied by Crypto experts and lawyers to be able to resolve such case. The buyer cannot assume ownership without satisfactory documentation.  

[livingfree]

Is this a real scenario?

Why would someone would love to receive a token that's not even known and popular. Usually, when there are trades and deals like this, it's either bitcoin, ethereum, bnb or any stable coins are the ones that's being accepted.

But why would someone accepted a token that's not really being used and turned out to be a fake one? There are too many questions on this. If he's able to accept a fake token, then the victim isn't really keen on accepting crypto as payment.

And he/she shouldn't have accepted it. What's the token?

[TimeTeller]

Is this a real scenario?

Why would someone would love to receive a token that's not even known and popular. Usually, when there are trades and deals like this, it's either bitcoin, ethereum, bnb or any stable coins are the ones that's being accepted.

But why would someone accepted a token that's not really being used and turned out to be a fake one? There are too many questions on this. If he's able to accept a fake token, then the victim isn't really keen on accepting crypto as payment.

And he/she shouldn't have accepted it. What's the token?

It is the responsibility of the owner to know the value of the token itself.
However, we don't know the whole story here as the token may have value at the time of payment.
Remember, most pump and dump tokens, and if they happen to receive at the time of pumping period.
And some of these owners don't know that the token can easily lose their value once this period is over.
So if you are an owner and wanted to receive crypto payment, better stick to BTC, ETH or BNB.
At least you have to chance to convert it to your fiat, but with tokens, they can easily go worthless.

[Oceat]

Who on earth would sell their houses when they don't know a single thing about the crypto currency they've been using for transaction? If there are people like that how come they believe on such shit when using Bitcoin is different than using any shit coin to buy something. A link would explain everything if OP have one since I still can't believe if it's true or not. Buying something like house's is difficult already then there it is someone just sold house because of the shit coin, it's insane how scammers would gonna do anything just to take advantage of their weaknesses.

[judeafante]

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.

I also don't believe this, if you are buying a house you can't commit fraud because you will be charged with estafa and the sellers can recover their houses because there are paper trails and transactions, the judge can easily rule this case in favor of the sellers, as the buyer will have multiple violations, it's different when the transaction involves something online and both parties are far away to each other.

[samcrypto]

As much as I want to believe on this story, I can’t find any link or articles in google with regards to this incident, Maybe OP can provide a proof for this and be more specific about the shitcoins you’re talking about.

Imagine, if you’re a seller and you are too careless dealing with people you actually don’t know, i really doubt on this. Though you can really get fooled by shitcoins in other way, with real estate it too impossible.

[gunhell16]

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.

You mentioned that you read it in a piece of local news, right? I just want to know what local news is this. do you have a source link for this mate? I hope you included it in your post here so that other members of this forum can also check it. And the amount of 1.2M$ is not a joke either, actually, it's a huge amount.

I hope you can at least provide reference links to the ones you said you have seen many scams like that situation. There is a little lack of detail in your post because it is not stated how the buyer sold it, so it is very impossible that you will release 1.2M$ so easily without even mentioning that he held the title of the house he bought, whatever. the fake token was given and then 1.2M$ was given immediately. because that's how your story used to be in your post here. Because if I'm the one holding that amount, I can't just immediately hand over that money when I don't have the title to the house and land.

[re-start]

Well, guys, I need to provide some updates according to your questions:

First of all, yes, this is real news.
First title: A scammer who bought several houses with fake cryptocurrency, and yes, that person has been arrested. It's funny

I also read it in the newspaper. I'm sorry, but I don't have a direct link. If I find it, I will update this thread immediately.

[First Registration]

I read in the local news that a person bought several houses with fake tokens.

Yes, you are right. Because nowadays there are many scam bounties. In fact, those project tokens are created and sold to everyone, and later the project team eats money without giving any liquidity to those tokens. And in this way, if someone spends money for 3-4 projects, it is possible to buy a house easily. So we should always beware of these cheats.

[makishart]

It seems unreal for me. These days internet has become a part of our life and i thought that if the house sellers must not be stupid enough except if this kind of case happened in the third world country where people have less access to the internet or having very low knowledge about crypto.
Im not feeling doubt if sometime people can even believe with what others site and that's pretty similar like fraud. I will not fully trust this story as the source is not even known.

[posi]

Well, guys, I need to provide some updates according to your questions:

First of all, yes, this is real news.
First title: A scammer who bought several houses with fake cryptocurrency, and yes, that person has been arrested. It's funny

I also read it in the newspaper. I'm sorry, but I don't have a direct link. If I find it, I will update this thread immediately.

Does it happen in your local?, where did you read it without any link for us. It's really difficult to scam like this, because to buy and sell a house you have to meet the partner directly and sign a sales contract, as long as there is fraud here, then the scammer will be caught. No wonder the scammer has been caught, it's so obvious and acting stupid.
One more thing can you provide that dummy token name? is it a shit token or a bogus token?

[5W-KILO]

Sorry OP but this looks like a big fat lie to me because its not genuine or maybe you are not sharing the exact details of what really went wrong, who would accept tokens in this era for big house? Those who bought houses with crypto use BTC and the sellers of those houses know more about crypto as well, you need some explanations to make.

[MarjorieZimmermanGinger]

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.

First you have to include the news link, so that we can understand and learn together the concept of fraud by that person, because judging by the posts you made, most likely the victim is someone who doesn't understand crypto.

This is a user case involving big names in crypto, with crimes being committed regularly and targeted at people who are not aware of the concept of crypto itself, we can be sure this will not happen, if someone can do some study and know the concept of crypto, we hope no more similar cases will happen, maybe this is what crypto people say has a high crime rate, even though this category is only aimed at people who don't understand the general picture of crypto.

[StormHawk]

Never read anything about this anywhere, next time try sharing link to the original news so that we can have a better understanding about what happened, all you said dont make sense to many on here and you can see, it sounds too good to be true or probably a lie it is.

[Frengki_cisco]

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.

The owner of the house I think is very stupid, this is the first case I have ever heard of as long as I know digital currency, why did the owner of the house not check the token first in the crypto market, the price and type of crypto, how he immediately received the coin without checking, something strange if the owner of the house sold the house with the token he himself did not see what token it was.

[smartaction]

This story does not seem credible. Buying a home requires a lot of reliable documents from both the buyer and the seller . Where there is no scope for cheating . I think the op made this story up to get some fucking Smerit. If this story  is true then op should share the valid link here. Otherwise I think it's a fake story .

[coinerer]

This story does not seem credible. Buying a home requires a lot of reliable documents from both the buyer and the seller . Where there is no scope for cheating . I think the op made this story up to get some fucking Smerit. If this story  is true then op should share the valid link here. Otherwise I think it's a fake story .

It's true that big scams are constantly happening through cryptocurrencies . But most scams are anonymously . A scammer will never openly scam and never use personal documents to scam. Buying a land or house properties requires many documents.  So a scammer can never buy them by scamming.  And if bought, legal action will be taken quickly against him. So I also don't think there can be any truth to op story.

[Dr.Osh]

so many questions about this if you don't provide the link. we don't know what their transaction was based on, and how the homeowner would want to exchange the house he owns for tokens that have no price. IMO, it would be very stupid for someone to exchange their house for a coin they don't even know how to exchange. and identify it. even more so if you don't ask the expert what he's going to trade. I just feel that this is a very strange thing.