New Scamming Tricks On Bybit And Bitget Be On Alert.

[GiftedMAN]

Before now there has been so many thread concerning scam that we experience on exchanges that we make use of but I still remember that a lot of awareness has been created which has helped us to reduce falling victim to scammers but as we know scammers are always smart they do not waste time to get new ways they use in scamming people I believe they have a new method this festive period which is the reason why this thread is being created.

If you make use of Bybit or Bitget, you must have experienced Merchants who will not make payments but they will claim to have paid you so that you will release the coin for them to scam you and run away, some of them often reach out to you calming that the rate has dropped so you should accept the amount they are willing to pay before they can make payments etc.

When they noticed that people are no longer falling victim to their cheap tricks they have developed a new method which is currently working for them now since most people are not
used to the tricks.

These are some of their new tricks.

1) They send money using Opay or palm pay after releasing your coins you will notice failed transaction in the payment that was sent to you.

2) They will request you cancel the thread after claiming that payment has been sent to you when they paid nothing to your account.

3) They will request for offline transaction between you two instead making use of the exchange.


How to avoid getting scammed.

a) After receiving payments from the merchant, confirm if the #50 tax was deducted from the money sent to you that's if the transaction is 10k and above, do not rush to release your coins kindly delay the release for 5 minutes or simply make a transfer from the account just to confirm the amount that will be left after your transfer with this you will be sure you still have the payment that was sent to you.

b) Do not cancel the trade when asked by the merchant to do so especially if the merchant has already dropped an image that he has made payment when he hasn't made any payment.
If you are deceived by the merchant and you cancel the trade, he will rush to make and appeal stating that you cancelled the trade after paying you that way the exchange will freeze your account for weeks you will be asked to provide evidence even when you have provided everything your account will be frozen for about 14 days before they can allow you to make transactions again.

c) Never accept any offline P2P transaction with a merchant you met on the exchange, they will make you to trust them by doing business with you good number of times, the moment you feel too comfortable with them they will ask you to end your coins after sending your coins the next thing you will get is blocking.

If you have other means of creating awareness this period please feel free to drop your own contribution 🙏.

[Amphenomenon]

While I haven't experienced this type of p2p scam attempts, I have experienced some annoying and subtle one, and one thing I will say in dealing with these merchants is being cold hearted.

Anything that doesn't follow the usual order or looks suspicious I don't want to hear and I do not chat or speak in calls aside using exchange platform and when things are becoming fishy, I start  gathering proof against you and if you try to act mighty, I show you and you humble yourself and do as you ought to behave.

[Joy_learns_crypto]

Thank you for this, About creating awareness to this, I have a compiled into a thread some scam people have experienced in Bybit, Bitget and other exchanges.

https://bitcointalk.org/index.php?topic=5562198.msg65916009#msg65916009
It is great to have many people’s opinions experience in one play that was why I created that thread and it is also opened for people to share more experiences because it will be saving others.

[Su-asa]

That's right mate, there have been a lot of discussions here which is based on P2P crypto scam between merchants and dealers and it has indeed helped us a lot to learn how to trade safe without being a victim to scam. But the surprising thing here is that scammers always find their ways through that's why there's always more updates coming.

As a matter of facts, I don't even bother to read those messages vendors are sending, that is why I always chose a trade that has shorter time. I use Bitget to do my trade and I always search for 15 minutes trades not because I'm in a hurry but because in case the vendor wants to outsmart me the countdown will be done then I can appeal the trade immediately.

I don't pay attention to those messages because by doing so, you get to start conversation with them (which I don't want to).

Dey pay and I confirm then release the coin, I don't even release coin immediately after confirmation.

As a vendor the moment you chat me of the exchange I know you are planning something else's so I will take a screenshot immediately and block you ASAP without even replying the chat..

[HajiBagi]

While I haven't experienced this type of p2p scam attempts, I have experienced some annoying and subtle one, and one thing I will say in dealing with these merchants is being cold hearted.

Anything that doesn't follow the usual order or looks suspicious I don't want to hear and I do not chat or speak in calls aside using exchange platform and when things are becoming fishy, I start  gathering proof against you and if you try to act mighty, I show you and you humble yourself and do as you ought to behave.

I have not experienced it too but I think there are people who have experienced it, what we need to do when it comes to p2p transactions is to be careful, one thing we should know is that if we made a mistake and release the coins without not receiving anything from the buyer we have lost the coins and we can not get them back, when it comes to p2p transaction I don’t care who you are, if I did not receive my money i will not release the coins and if the money did not complete I will not release the coins too.

There are people who are good in deceiving people when it comes to p2p transactions, they will pretend that they have send the money and made a screenshot that did not show the transactions or the amount of money they send and be thinking that will make you release the coins, it has happened to me yesterday also and I did not release the coin and I even told the person if he don’t want to send the money he should cancel the transaction and that is when i received the money, we might not experienced somethings before but we should be careful because of another day.

[Son Of Blockchain (SOB)]

 I'm yet to have a scam encounter in the p2p and I hope I don't encounter them, but I'll try to very careful if I have an encounter with any in the future, and report the merchant immediately to the exchange cause I know they'll have a support system where customers can lay complains and report fraudulent cases.
 Anyways while carry out transactions in the p2p, there's an indication by some of these exchanges when you open the message box of the merchant for interaction,  you'll be asked not to release funds if you've not received funds in your bank account and also for you to report to the exchange if a vendor pays with an account with a name that's not included in their profile, that's to tell you that even those exchanges try their best to help people avoid getting scammed but some people don't just pay close attention.

[GiftedMAN]

Thank you for this, About creating awareness to this, I have a compiled into a thread some scam people have experienced in Bybit, Bitget and other exchanges.

https://bitcointalk.org/index.php?topic=5562198.msg65916009#msg65916009
It is great to have many people’s opinions experience in one play that was why I created that thread and it is also opened for people to share more experiences because it will be saving others.

Thank you so much for drawing my attention to this thread, I will take a look at it now I believe if we keep creating more awareness to various scam methods our people will hardly fall victim to scam unless the ones that do not pay much attention to details. Experience they say is the best teacher if we stay informed I believe scammers will become too busy cause they will be made to start working on other ways to hit their victims.

[Jubilee58]

Before now there has been so many thread concerning scam that we experience on exchanges that we make use of but I still remember that a lot of awareness has been created which has helped us to reduce falling victim to scammers but as we know scammers are always smart they do not waste time to get new ways they use in scamming people I believe they have a new method this festive period which is the reason why this thread is being created.

If you make use of Bybit or Bitget, you must have experienced Merchants who will not make payments but they will claim to have paid you so that you will release the coin for them to scam you and run away, some of them often reach out to you calming that the rate has dropped so you should accept the amount they are willing to pay before they can make payments etc.

When they noticed that people are no longer falling victim to their cheap tricks they have developed a new method which is currently working for them now since most people are not
used to the tricks.

These are some of their new tricks.

1) They send money using Opay or palm pay after releasing your coins you will notice failed transaction in the payment that was sent to you.

2) They will request you cancel the thread after claiming that payment has been sent to you when they paid nothing to your account.

3) They will request for offline transaction between you two instead making use of the exchange.


How to avoid getting scammed.

a) After receiving payments from the merchant, confirm if the #50 tax was deducted from the money sent to you that's if the transaction is 10k and above, do not rush to release your coins kindly delay the release for 5 minutes or simply make a transfer from the account just to confirm the amount that will be left after your transfer with this you will be sure you still have the payment that was sent to you.

b) Do not cancel the trade when asked by the merchant to do so especially if the merchant has already dropped an image that he has made payment when he hasn't made any payment.
If you are deceived by the merchant and you cancel the trade, he will rush to make and appeal stating that you cancelled the trade after paying you that way the exchange will freeze your account for weeks you will be asked to provide evidence even when you have provided everything your account will be frozen for about 14 days before they can allow you to make transactions again.

c) Never accept any offline P2P transaction with a merchant you met on the exchange, they will make you to trust them by doing business with you good number of times, the moment you feel too comfortable with them they will ask you to end your coins after sending your coins the next thing you will get is blocking.

If you have other means of creating awareness this period please feel free to drop your own contribution 🙏.

You are very right, we should be extremely careful when using some of this platforms for P2P trading. While we have genuine merchants, there are fake merchants too who are there to deceive and fraud people. Concerning receiving alert, we should be aware of fake alert, it has been happening to people, but with this kind of awareness created here, I believe we have known their tricks and we equally know how to handle such a situation. While making you transaction, it is necessary not to work on the instructions of a merchant, ensure you are satisfied with the transaction before releasing your coin. Do not be under pressure as such pressure can lead to scamming.

[Donk1]

​Well if I may say scammers are actually getting more and more innovative by the day especially in P2P. Basically because of this P2P is becoming more and more risky  mostly during period like this where everybody tend to celebrate as am sure we are all busy but no matter  what we should always check and confirm our transaction before we release our coins even if the merchant is pressuring you to release coin , always remember there is no hurry in life take your time and confirm payment if the payment didn't come just know it's a red flag and simple cancel the deal......

Moreover the only way we can be prepared is to create awareness and thanks to the Bitcoin community we tend to learn every day Basically it's not everything one must pass through experience to understand most times we have to pay attention and learn from others. That's all as long as we keep on look out for each others and creating awareness we can keep up with all this P2P scammers. Thanks again, OP.

[Amphenomenon]

While I haven't experienced this type of p2p scam attempts, I have experienced some annoying and subtle one, and one thing I will say in dealing with these merchants is being cold hearted.

Anything that doesn't follow the usual order or looks suspicious I don't want to hear and I do not chat or speak in calls aside using exchange platform and when things are becoming fishy, I start  gathering proof against you and if you try to act mighty, I show you and you humble yourself and do as you ought to behave.

I have not experienced it too but I think there are people who have experienced it, what we need to do when it comes to p2p transactions is to be careful, one thing we should know is that if we made a mistake and release the coins without not receiving anything from the buyer we have lost the coins and we can not get them back, when it comes to p2p transaction I don’t care who you are, if I did not receive my money i will not release the coins and if the money did not complete I will not release the coins too.

I knew this for sure, if one hasn't  experienced something that doesn't mean they don't exist.

There are people who are good in deceiving people when it comes to p2p transactions, they will pretend that they have send the money and made a screenshot that did not show the transactions or the amount of money they send and be thinking that will make you release the coins, it has happened to me yesterday also and I did not release the coin and I even told the person if he don’t want to send the money he should cancel the transaction and that is when i received the money, we might not experienced somethings before but we should be careful because of another day.

Omo, like I said earlier stay cold hearted, deceiving/manipulations doesn't work on that, I won't listen to any shit until I see my money e y complete on my account or else, you go chill. I don't have time to chat in fact and I do tell them this because if I go offline, I might just forget about the trade and they will start calling lol.

[Moreno233]

There is usually a notice on Bybit that payment from Palmpay can be reversed by the sender, I don't know if this is true but Bybit always ensure that people acknowledge that disclaimer before being allowed to use their p2p services. No matter what these exchanges do, scammers will always want to take advantage of others, that is the sad reality. We have to shine our eyes especially this period.

[Onyeeze]

Anyone is using palmpay and opay including moniepoint should be careful, because scam are everywhere, another strategies they applied concerning such kind of scam, immediately they made payment to you they will quickly disconnect with Internet signal and it will interrupt the transaction and within a few minutes opay or palmpay will revert the money to their account thinking that during the transaction process something bridges the transaction process, and payment slip will be presented to you, so I think that this are the methods they are using in bybit to scam people too.

[GiftedMAN]

There is usually a notice on Bybit that payment from Palmpay can be reversed by the sender, I don't know if this is true but Bybit always ensure that people acknowledge that disclaimer before being allowed to use their p2p services. No matter what these exchanges do, scammers will always want to take advantage of others, that is the sad reality. We have to shine our eyes especially this period.

Many people do not know about this infact something happened to a friend of mine last week of not because he reached out to me he would have lost his money. A merchant paid him using palmpay unknown to him that the payment was reversed by the sender it was when the person was pressuring him to release the coin that he called and told me his experience I had to tell him never to release the coin.

[Agbamoni]

These are some of their new tricks.

1) They send money using Opay or palm pay after releasing your coins you will notice failed transaction in the payment that was sent to you.

2) They will request you cancel the thread after claiming that payment has been sent to you when they paid nothing to your account.

3) They will request for offline transaction between you two instead making use of the exchange.

Do you know what I do every time after the merchant has marked the order as paid? I go to my micro-finance bank, and once I have received the money, I also send half of the money to my other bank to be sure the money was really sent. I had a first hand experince last year, when I received a flash transfer. It showed in my KUDA bank app, but i couldnt make any transactions with it. After a few days,s the money was not deleted from my bank app, because it wasnt real. Since then, I dont joke with my pattern of confirming transactions.

[Realwhot]

For most exchange, any transaction that you do outside the exchange they will not even bother to assist you if you get scammed because it is against their terms and conditions. You should not even allow an external discussion of any kind even if it is a phone call or Whatsapp message.

[Felicity_Tide]

a) After receiving payments from the merchant, confirm if the #50 tax was deducted from the money sent to you that's if the transaction is 10k and above, do not rush to release your coins kindly delay the release for 5 minutes or simply make a transfer from the account just to confirm the amount that will be left after your transfer with this you will be sure you still have the payment that was sent to you.

b) Do not cancel the trade when asked by the merchant to do so especially if the merchant has already dropped an image that he has made payment when he hasn't made any payment.

Checking out for the deducted fee is quite okay, but waiting for 5 minutes before release despite after seeing the funds might not just be a good idea because some merchants are swift in doing their business, so delaying them might not be a good business ethics. Mind you, there are transactions that are below 10K, which means this technique might not actually work in this case. What I feel that every seller should do is to always cross check the deposit. It is not that common to see an unexpected reversal even when the money has been confirmed. Fintech platforms barely do this_{(at least I'm certain about this when it comes to Opay)}. When the money is been reversed, you immediately get the notification.as well.

The thing is, at the end of the day, everybody should try as much as possible to avoid being a victim. Too many conversation with them can even prolong matters, so we need to act smartly. Moreover, dealing with merchants with a better rating is always encouraged.

[Zanab247]

Thanks for dropping this thread here OP, indeed this Naija local board is really impacting users not to fall victim to scammers in some exchange platform. You have hit the major points that will help people not to fall victim to scammers new strategy OP. I nearly fall victim to scammer this week in the bybit P2P with their new strategy they are using in this festival period, the buyer send me money to my opay with a receipt of the transaction which I confirmed the transaction successful but I notice that the transaction and the receipt was so fast for the buyer to forward to me to release his coins. I was trying to transfer the money from my opay to another account they keep telling me insufficient funds then I realized that this is a scammer because I was still hodling my coins, and I message him hope you are not trying to scam me, he said no and I went back to my opay account in 45 minutes later to check the balance I discovered the transaction he made show failed and quickly report him with the fake receipt to bybit.

I believe those scammers are everywhere in exchange market with new strategies to scam people, because this is their season they use to operate most.

[Sonia_123]

Before now there has been so many thread concerning scam that we experience on exchanges that we make use of but I still remember that a lot of awareness has been created which has helped us to reduce falling victim to scammers but as we know scammers are always smart they do not waste time to get new ways they use in scamming people I believe they have a new method this festive period which is the reason why this thread is being created.

If you make use of Bybit or Bitget, you must have experienced Merchants who will not make payments but they will claim to have paid you so that you will release the coin for them to scam you and run away, some of them often reach out to you calming that the rate has dropped so you should accept the amount they are willing to pay before they can make payments etc.

When they noticed that people are no longer falling victim to their cheap tricks they have developed a new method which is currently working for them now since most people are not
used to the tricks.

These are some of their new tricks.

1) They send money using Opay or palm pay after releasing your coins you will notice failed transaction in the payment that was sent to you.

2) They will request you cancel the thread after claiming that payment has been sent to you when they paid nothing to your account.

3) They will request for offline transaction between you two instead making use of the exchange.


How to avoid getting scammed.

a) After receiving payments from the merchant, confirm if the #50 tax was deducted from the money sent to you that's if the transaction is 10k and above, do not rush to release your coins kindly delay the release for 5 minutes or simply make a transfer from the account just to confirm the amount that will be left after your transfer with this you will be sure you still have the payment that was sent to you.

b) Do not cancel the trade when asked by the merchant to do so especially if the merchant has already dropped an image that he has made payment when he hasn't made any payment.
If you are deceived by the merchant and you cancel the trade, he will rush to make and appeal stating that you cancelled the trade after paying you that way the exchange will freeze your account for weeks you will be asked to provide evidence even when you have provided everything your account will be frozen for about 14 days before they can allow you to make transactions again.

c) Never accept any offline P2P transaction with a merchant you met on the exchange, they will make you to trust them by doing business with you good number of times, the moment you feel too comfortable with them they will ask you to end your coins after sending your coins the next thing you will get is blocking.

If you have other means of creating awareness this period please feel free to drop your own contribution 🙏.

You are right in the aspect of short paying it happened to me in bitget, on that faithful day, I lost some money from my wallet and so I was angry and was absentminded in the transaction I was making when I realized the money they credited me was not complete, I have already released my coin to them and nothing to be done about it that was how I became their victim.

[Salahmu]

Thanks for the update because is good to always read especially when the things are being done by people using the exchange you usually use to get your fiat. However the first part is what I don't really get well because I wonder how someone would be credited on either there opay or palmpay but could still be manipulated by the sender into becoming a failed transaction if they want to, I have not experience this and I pray I never experienced it. Although I have been using this method you said from day one because I usually spend some minutes before releasing the coin so that I will be sure is still there intact.

[Franklyn-wood]

Thank you for this, About creating awareness to this, I have a compiled into a thread some scam people have experienced in Bybit, Bitget and other exchanges.

https://bitcointalk.org/index.php?topic=5562198.msg65916009#msg65916009
It is great to have many people’s opinions experience in one play that was why I created that thread and it is also opened for people to share more experiences because it will be saving others.

I am seeing Biq and some exchange I am not aware about on your list from this your link. I am surprised that there are so many exchanges that are available for Nigerians but the only once I know is Bybit and Binance which are very popular.
I know that there are so many exchanges but I thought they are limited to Nigerians because of the problem that the government once had with crypto exchanges claiming that they are depend foroney laundering and crime which was partially true.