Newbies be aware, don't fall into the trap of getting high ROI in Bull Market

[Shishir99]

What I wonder here is those fake profiles got a verified status on Twitter sometimes its gold check. Damn even newbie could fall or professional if they dont check such group real account. Elon Musk should do something about this as those scammers are draining peoples wallet.  They should track and monitor those scammers account and flagged them or have tagged as scammers migrating from account to account. They are so hard working to imitate account and try to do a scam post when something important gets announced like airdrop.

Keep dreaming buddy!
Elon Mask does not care about the scams happening on his platforms. He is a market manipulator himself. Tell him to ban the users who promote some random scam projects in his tweets. If he started moderating his own account, people would be safe. I have seen tasks like where users need to post comments on Elon Mask's posts. As long as Twitter is getting money for the blue verification badge, they will continue approving the blue badge. The funny thing is, my twitter account was suspended for an unknown reason and I didn't bother to reopen one.

[DubemIfedigbo001]

Its very funny when people get comfortable easily with lies, like the saying goes, being scammed is a  product of  greed. Like how could you believe someone would pay you $400 daily from a $4k investment?, that means you're getting your full capital as gain in just 10 freaking days . It was an obvious red flag if you asked me. Some people are different, some trust easily when you've been good to them, I just believe your neighbor acted on blind trust and greed.

 I've had such stupid offer from a telegram scammer who promised me to help recover lost or forgotten wallets, asking for subscription ranging from $300 -$1500. He even have me a demo which looked real to have found some wallets of $1217 worth of solana, asking me to just pay and take the  found coins, I asked him to take the coins as my subscription and give me nothing, but he declined and I got on red asked immediately. I asked myself a simple question. If this guy was getting these huge funds consistently, why's he advertising for little funds as subscription and that discouraged me and I avoided the obvious scam subscription.

Most too good to be true offers are scams and most times people are too greedy that they'll be seeing the loop holes in the conversations and presentations, but they keep convincing themselves that its legitimate and they end up shooting themselves on the foot.

[Hamza2424]

Insane Post OP made a huge contribution in highlighting the general scams going on in the market, such topics need to be actively discussed so the newbies can be saved from getting scammed by these signals sellers and shity people who have nothing good to provide except selling their own so-called courses, signals and scamming people with the tactics.

The general awareness campaign should be continued.. Actually, most people who fall into these traps never belong to the community of learners they just try their luck to find some shortcut to make money but educating such people is also our duty as community members. Everyone needs money but a good way is what matters in this whole cycle.

[sokani]

Damn! This is something that could have been avoided. Right from the beginning your friend could have smelt that it's a scam. Actually, this the first time it's coming to my attention that p2p traders do have lengthy conversation on the Binance chat because I don't do that. Also, she wasn't supposed to trust a stranger she just met online no matter what. It's good she reported the issue to Binance but I'm sure she's not going to get her money back, the worse that can happen is that the scammer is going to get a ban.

[dimonstration]

I saw this kind of post even not in bullrun. Scammers never get tired on promoting their scam on social media snd they are using almost every event in crypto including bear market or bull run.

I always stumble on this kind of post on comment section on social media like facebook and X. While on telegram, scammers usually impersonating an admin of the group you made a chat that will PM you this kind of offer. I’m done being a newbie so I don’t know if there’s still newbie that being a victim on this obvious scam. I think what makes them dangerous is the fact that they are already widespread while some new think of it as legit if they are first time in crypto due to their gullible traits for new kind of investment that will give good return.

[Mpamaegbu]

Just yesterday I was going to trade a small amount of coins to my local currency. So I searched for reputable traders on binance. After I had found one who seemed to be worth my sell I placed my order. Unfortunately I opened the chat and found some rubbish he had written stating that he will not send funds until I had sent my mobile no. Like why do you want my mobile no for trading. I decided to wait a little but he stood by his words and didn't send. When I saw what was happening, I then write out a fake no for him and immediately he transferred my funds in a sec.

What an interesting encounter you had with that buyer. I often get to see that phone number thing too from a few merchants I've transacted with but I always ignored their requests and wait for them to respond. Of course, they always did before the time window ran out. It's needless asking for anyone's number when the stuff needed for the whole transaction exercise has been on the platform. I think there's a warning on Binance against exchanging phone numbers and chatting outside the platform or so. Those with fraudulent minds will keep luring traders to chat them up.

Let me even share this. On my second attempt at P2P,  the buyer marked the order as paid and asked me to release coins. What saved me was the warning on the site which I had assimilated that on no account should anyone release coins without verifying it with bank logins and that we shouldn't rely on sms alone. We should log into our bank app and confirm it there first. So, the buyer insisted that he had made payment but I told him he had to wait until I confirmed it. The buyer never sent any cash until the transaction timed out. I could've reported him to Binance if I knew how then.

[Alpha Marine]

When you think about how far crypto has come and how exposed people have become to crypto, you'd believe people don't fall for cheap scams like this anymore, but a lot of people still fall for this. As ridiculous as it sounds, people still fall for it.
These kinds of scams are making the rounds on social media. I saw one recently on X where they said something like they'll refund the gas fee or whatever they were talking about. A lot of these scams are unbelievable. It should be obvious.

With the kind of enlightenment on this forum, it will be difficult for active members on this forum to fall for such scams (not saying it's not possible), so my worry is people who do not understand how crypto works.
People always allow their greed to get the better of them. When you add greed to ignorance you get a very unhealthy combination.
We should try our best to educate people on popular scams like this in any way we can. You never know who you might be saving.

[Adbitco]

The only person or people who could fall to this scam are people who wants to become Rich over night without them stressing for it at a time we can measure them to be the greedy ones because if they aren't greed they won't fall into this scam and I believe that they knew it could be scam but, since they are blindfolded with greed they wouldn't know when they will be easily scammed by those people.

Few times on my Facebook I have been having some forms of irregular pm and  unwanted business offer but I declined them even to an extent I went forth blocking them to make sure I am not being hypnotized by their sweet words because most at times you wouldn't know when you will fall victim by just following them to chat free and they will brain watch you with all manners of fakes promise even to the points of sending you fake withdrawal /deposit screenshot by then you wouldn't know when to get your wallet associated with their site.

[Ndabagi01]

There are too many of these and they're unstoppable because these social medias where they're spreading can't filter them. And whether we're on a bull season or bear, they were never gone.
Many of their victims are the ones that don't really have an idea on what crypto these and they take advantage of that once they have understood that their potential victim doesn't know anything.

This is an ideal time for scammers to easily get to their victims. The hype surrounding the bitcoin halving and bull season will pique the interest of many people in the cryptocurrency space. This will result in a large number of newbies coming to take money they have never worked for in the space. It is very easy to approach these newcomers because their primary goal is to make more money or receive a large sum of money upon their initial entry into the market. They are easily convinced and duped out of their money. The cryptocurrency community is large and requires guidance on what and what not to do which most newbies don’t bother to ask about.

[Nangiconference]

I am quite familiar with the p2p story. When you have so many trading partners, you become a target of scammers. My golden rule is never to make any deals outside p2p platform.
[/quote]

Hi senior colleague, please what's the meaning of 020 platform. I really want to know. Thanks in advance.

[tvplus006]

What I wonder here is those fake profiles got a verified status on Twitter sometimes its gold check. Damn even newbie could fall or professional if they dont check such group real account. Elon Musk should do something about this as those scammers are draining peoples wallet.  They should track and monitor those scammers account and flagged them or have tagged as scammers migrating from account to account. They are so hard working to imitate account and try to do a scam post when something important gets announced like airdrop.

No, the sequence is completely different. Scammers hack or buy already verified accounts, and then change the name and avatar, after which they fill the feed with information from the copied profile. Well, in order for the X administration to respond in a timely manner to such a profile change, complaints about such fraudulent profiles should be sent.

[sunsilk]

Hi senior colleague, please what's the meaning of 020 platform. I really want to know. Thanks in advance.

I guess you mean P2P platform not 020 platform. It's peer to peer, means person to person. The simple meaning of that is you buy from me and I sell you the cryptos that I have that you want inside a platform without the intervention of the platform where we are trading.

If that's not yet enough for you, there are a lots of descriptions that you can find on the web like this[1].

[1] What is P2P Crypto Exchange and How Does Peer-to-Peer Work?

Few times on my Facebook I have been having some forms of irregular pm and  unwanted business offer but I declined them even to an extent I went forth blocking them to make sure I am not being hypnotized by their sweet words because most at times you wouldn't know when you will fall victim by just following them to chat free and they will brain watch you with all manners of fakes promise even to the points of sending you fake withdrawal /deposit screenshot by then you wouldn't know when to get your wallet associated with their site.

Those scammers are going on with almost all of the facebook pages and comment section. And that's why when I use my FB, I don't comment randomly to pages.

[hatshepsut93]

Scammers aren't only active during the bull runs, they are attracted to crypto because of its properties like censorship resistance and privacy, which makes scamming a lot easier. And knowing about the examples of scams is good, but it will never be enough, because scammers will never tire of inventing newer and more sophisticated schemes. What's important it to learn one fundamental rule - if you're sending money to someone and have no realistic plan how to get your money back, you have a high chance of getting scammed.

[KingsDen]

Scammers aren't only active during the bull runs, they are attracted to crypto because of its properties like censorship resistance and privacy, which makes scamming a lot easier. And knowing about the examples of scams is good, but it will never be enough, because scammers will never tire of inventing newer and more sophisticated schemes. What's important it to learn one fundamental rule - if you're sending money to someone and have no realistic plan how to get your money back, you have a high chance of getting scammed.

It is true that scammers are not only available in the cryptocurrency market during the bull run. The cryptocurrency market is characterized with scam and scammers are always available right from the beginning and they would also continue to be in the industry in as much as cryptocurrency continues to exist. But of course during the bear market most of the scammers are not seen because the market will not be lucrative and there aren't many new comers who would patronize their scam. It is during the period of the bull run that many newbies who has no experience or good information about the cryptocurrency market will join the bandwagon in order to make some profits. The scammers are always smart and innovative. They are smarter than you because they are always devising a new means to take you unaware and scam you. Meanwhile we aren't even researching more on how to escape them.

In order to prepare our minds we need to understand that scam is not living the cryptocurrency industry anytime. So we need to device a means to live with scammers and be ahead of them and not to eliminate them totally because that is clearly impossible. Newbies be wise.

[Botnake]

There’s no guarantees that one will make high ROI when bull run comes most particularly for newbies as they are not skillful and well-experienced on trading or investing in the market. So if one promises you that you will have the highest ROI, note that too good to be true is already a scam so always avoid that certain thing. Don’t believe in others are saying, as you are the only who can tell whether you’re be in high profits or not based on your performance in the market.

[Pmalek]

The core of each scam is always the same. Scammers only slightly update their methods. As soon as there is talk of guaranteed profits daily, weekly, or monthly, consider it a scam. And if someone approaches you online, wanting to change your life and make you rich, know that it's a scam.

As OP showed in their example, some scammers even have the patience to build a business relationship with their victims, be it by trading with them or in some other way. They make a couple of normal deals to build trust, and then comes the real scam. So, no matter how long you have known a person or dealt with them, be careful at all times. 10 small deals might just be a trick to lure you in for the 11th big one, which is a scam.

[dzungmobile]

The core of each scam is always the same. Scammers only slightly update their methods. As soon as there is talk of guaranteed profits daily, weekly, or monthly, consider it a scam. And if someone approaches you online, wanting to change your life and make you rich, know that it's a scam.

Scammers are lazy and they do lazy traps by repititions with similar methods as they only do batch scam and they don't need to get 100% success rate. They need like 1% success rate or even smaller rate. They spent very little inputs and almost don't lose anything if they end with 0% success rate for a single scam batch. They will repeat it with other scam batches until finding victims.

As OP showed in their example, some scammers even have the patience to build a business relationship with their victims, be it by trading with them or in some other way. They make a couple of normal deals to build trust, and then comes the real scam. So, no matter how long you have known a person or dealt with them, be careful at all times. 10 small deals might just be a trick to lure you in for the 11th big one, which is a scam.

It is targetting greed of people and after building relationship, it will make it easier to scam. People who have belief in scammers after some successful trades, will even defend scammers if any relative warn them to be carefull with a likely scam.

[BlackHatCoiner]

Some activities of fraudsters in verious social media:

Scammers in social media, what a surprise. But, it's these particular Facebook groups which tend to attract scammers. These posts don't exist in say, a Star Wars fan group. You need to have entered a specific group type with "making money out of crypto" as the main topic. Which you shouldn't have entered in the first place as they're fraud.

Also, what bull run are we talking about? Price recovery in the Bitcoin land is like a morning coffee. Bull run will begin when we exceed the $70k.

[nakamura12]

Even though it's not bull market time, those kinds of posts on social media are still there and that's what scammers do. I know there are other methods that the scammer will use and since this is what we are discussing then here's what I do about it. I only believe in it if I were to found someone who really earn money from it meaning it is not one of their team pretending to be someone who earn from their ROI or a partner of some sort to make them believe that they are not a team member (more likely getting paid to make a fake reply kind of like that).

[Pmalek]

Scammers are lazy and they do lazy traps by repititions with similar methods as they only do batch scam and they don't need to get 100% success rate.

They are lazy because the little effort they put in is usually enough to get a satisfactory number of victims fall for their schemes and make them money. The scams worked in the past and they still work today. There will always be new internet users browsing the web with not enough knowledge about how to protect themselves. There will also be new elderly people who have no one to protect them who will fall for scams because they use their hearts when making decisions. It's a sad reality.