Am I going to be scammed.....?

[Royal Cap]

A few days ago, a person PM me on Telegram, asking me which exchanger I use. So I replied normally that I use Binance. Then he gave me some offer  like the picture below.

He said that I would need two exchangers to do this. I said to expand a little, okay, I will open an account on another exchanger.

Then he asked me to buy WAXP coins from one exchanger and sell them on another exchange.

Although I did not do this after that. It seemed like a scam to me.
What do you think about this? Am i going to be scammed??

[RickDeckard]

A few days ago, a person PM me on Telegram (...)

This is how the story starts and I can tell you that it will end badly for one of the two person involved in it, care to guess to whom? Cease all communications with such user, block it and report as spam/scam. Then take it as a lesson learnt - There are no free lunches[1] in life and such approaches are one of the many ways that people all over the world get scammed daily.
[1]https://en.wikipedia.org/wiki/No_free_lunch_theorem

[Alphakilo]

A few days ago, a person PM me on Telegram, asking me which exchanger I use. So I replied normally that I use Binance. Then he gave me some offer  like the picture below.

A person who I want to think is a stranger gave PMed you on Telegram...stop right there. And you replied to an alleged stranger. This is the beginning of the scam.

He said that I would need two exchangers to do this. I said to expand a little, okay, I will open an account on another exchanger.

This is the manipulation taking place... but you continued with the conversation.

Although I did not do this after that. It seemed like a scam to me.
What do you think about this? Am i going to be scammed??

You are going to get scammed because you are ignoring your instinct and you are throw caution to the wind. Whatever happened to not responding to strangers on your telegram?

[Hazink]

I really don't understand how he wants to make you get profit from such a trade, but anything that has to do with a stranger giving me a financial idea, I treat with extreme caution; they usually have ulterior motives.

The token which the stranger suggested for you I have checked through in different exchanges to compare their price, and there is no difference between exchange A and B, so getting into something like this, considering how high you are starting with and how much of a fee you will pay to withdraw down to another exchange, you will end up running a loss at the end of the day.

[Hatchy]

Fact here is, he's intentions will not be pure so please avoid. Arbitrage trading is a real thing in the financial market but someone coming to your DM offering to teach you how without you requesting any help from him, is suspicious and most likely a  scheme to lure you into scam. Avoid at all cost. Just as others have said, block such person and report as spam... Telegram is a well known mancave for thief's and criminals...

[Ivystar5]

facts that it's a scam includes:
1. Unsolicited messages: as long as you had no idea or intentions towards this and never messaged him for the cooperation or business it's a possible sign of scam.

2. Offering a business idea which are too good to be true and which you have no idea about just to be taught along the line; this is always the step to scam.

3. If it requires you to send to any where or buy anything first then it's possibly a scam.

Now all this can be pointed in this pm which you had which means it's a scam.

[Stalker22]

Although I did not do this after that. It seemed like a scam to me.
What do you think about this? Am i going to be scammed??

You are going to get scammed because you are ignoring your instinct and you are throw caution to the wind. Whatever happened to not responding to strangers on your telegram?

Based on what I have read so far, I think OP is well aware that it may be a scam and is already cautious about how he will proceed. He may be curious or want to know more about how the scam actually works. That doesnt mean he is ignoring his instincts.

@Royal Cap, Im sure many of us are curious about how the story continues. But be really careful, because as you have guessed, it is most likely a scam. Im almost certain of that. However, it would be interesting and useful to know what the scammers final game is. Just keep in mind that the offer may even seem legit at first, while smaller amounts are in play, as scammers often use such tactics to lure you into the larger stakes they are aiming for.

[Ambatman]

I might sound extreme but anybody that sends you a Dm first especially on telegram
With a pitch that you will benefit
Is a scam.
Humans ain't that benevolent to randomly come to your dm and help you financially.


So I normally just have fun with them till I get bored.

[Royal Cap]

This is the manipulation taking place... but you continued with the conversation.

Although I did not do this after that. It seemed like a scam to me.
What do you think about this? Am i going to be scammed??

You are going to get scammed because you are ignoring your instinct and you are throw caution to the wind. Whatever happened to not responding to strangers on your telegram?

I replied to his message just out of curiosity. Because I wanted to see it till the last step. But unfortunately I couldn't proceed further because he asked me to invest. Still, I wanted to know about the next step from him.

[Mahiyammahi]

I replied to his message just out of curiosity. Because I wanted to see it till the last step. But unfortunately I couldn't proceed further because he asked me to invest. Still, I wanted to know about the next step from him.

rn lot if scammers will offer you job these type of opportunities even they could pay you 5-10$ depends on starter to gain your trust. But remember there's is nothing called free money or easy money.

If anyone is spitting these shits block them. Either they are scammer or newborn.

[Asiska02]

I am still trying to get how this story is going to end but I can’t really tell because I’m not familiar with the way this person is going in his approach. What I foresee in this is that, the person will really make everything go well and you’ll get the profit as it should but then when it gets more interesting, he’ll get you to buy the tokens from another exchange (probably belonging to them), which you’ll transfer money into to buy those said tokens.

From that point, you won’t be able to withdraw and transfer the money out and then the person will block you. I have always seen telegram as a hub for scammers and till day, they still feast around and get to achieve their aim and purpose. One thing about this is that, opportunities like this to make some money cannot come around looking for you in most instances, you’ll be the one to see the advert and applying to get one if the condition suits you.

[stadus]

Don’t fall for this - it really looks like a scam.

Even if we assume it’s not a scam, the setup still raises red flags. They say they’ll take a 2% commission from your profits, but that means you’re the one putting your own money at risk. What if you don’t make any profit? They lose nothing, you’re the one who took all the risk and gave them money.

There’s no guarantee here. It’s better to learn the right way and never trust anyone who promises guaranteed profits.

Always remember - there are so many scammers on Telegram. Stay cautious.

[khaled0111]

You should use common sense. Just by looking up WAXP on CoinMarketCap, you'll see that its price on Binance is the same as on Bitget. So, there's no arbitrage opportunity here.

Just by doing that, you would’ve realized that something was off with his offer and therefore you should’ve declined it immediately. I’m not sure what he was going to ask you to do next, but I’m certain it would’ve resultedbin you losing your money.

[Cryptohygenic]

What do you think about this? Am i going to be scammed??

You said you did not  buy the coin again as he asked you so, why the skeptic if you were going to be scammed?
However, you are safe as long tou did not follow his instructions so there is nothing fearful to loose but truth be told, all that statement of the anonymous is phishing and you too would had questioned him about how he got your contact because I see he is defected not in your contact file and in this crypto space, we are ought to be very careful when with the unfamiliars.
I will also sanction you for giving him such an attention all those while because while you think you are making fond of a scammer on that form, don't doubt that you may out of your selfcontrol fall on his trap because you will be tempted with the sugarcoated words of quick and massive profit.

[BitMaxz]

Based on your conversation, I don't see any scam attempt yet unless he is trying to ask for the memo based on the last response by him. However, if it's just a buy and sell with WAXP, I can't sense anything suspicious because you have full control of your account.

Maybe this man will try to scam you into sending him WAXP, so why not try to continue the conversation first and let him reveal his true intentions?
Because I don't see anything yet from the images above that this man is going to scam you or maybe he is helping you to learn arbitrage trading?

[Satofan44]

Based on your conversation, I don't see any scam attempt yet unless he is trying to ask for the memo based on the last response by him. However, if it's just a buy and sell with WAXP, I can't sense anything suspicious because you have full control of your account.

Maybe this man will try to scam you into sending him WAXP, so why not try to continue the conversation first and let him reveal his true intentions?
Because I don't see anything yet from the images above that this man is going to scam you or maybe he is helping you to learn arbitrage trading?

You are quite a naive one. Who in the world has enough time to contact random strangers online to teach them anything, let alone arbitrage trading? Of course this is a scam, it does not even matter in what way the scam is going to be done. It is a scam. No stranger on the internet will ever contact you to help YOU make money. Period. No discussion. It is time to grow up.

OP, block and report the account for scam and move on. Don't waste your time on things like this.

[Ryuraaan]

that are people they may get cash for inviting people, otherwise may it be a try and run.

[Darker45]

I replied to his message just out of curiosity. Because I wanted to see it till the last step. But unfortunately I couldn't proceed further because he asked me to invest. Still, I wanted to know about the next step from him.

He's offering arbitrage calls. But you can actually do it on your own. I don't think it's still an attractive or even profitable thing these days, but you don't have to entertain a stranger who's asking for a share of the profit if you really want to learn more about it. You can actually make your own research. You can proceed with a trial with a little amount.

If you're truly curious, take time to do some research. Take time to look for resources online. If you're lazy, you might fall to these scammers. Read about arbitrage trading.

[ThemePen]

What a gamer he is...
These kinds of scammers have sharp minds, and they just start a chat room and try to trap a newbie. Not even newbies; they also contact an expert too. They just play with others' minds. And with this honey negotiation, they just trap the newbie, who thinks he is right, and get trapped.
Which business is this that started from $5 to $10? I don't know exactly what he will do at the end, but I am sure he will grab your $5 to $10 and run away, so be careful and never trust a stranger.

[FinneysTrueVision]

Arbitrage isn’t that difficult. You don’t need to pay someone to teach you how to do it. That is the first red flag. I don’t know how WAXP works, but if it’s like XRP, then every account on an exchange usually shares the same address. While technically you would be sending funds to your deposit address, if they ask you to add a memo that is different than the one indicated on your own exchange account, those funds will get credited to another person. It is 100% a scam attempt.