Do you ever really read the terms and conditions on Bitcoin projects?

[avp2306]

If you download fake app, reading ToS inside the fake app won't save you from getting scammed or hacked. Thief who create the fake app can just copy-paste ToS from real app.

Yeah it won't save them because whatever things they do they end up as a victim of those criminals spreading those fake apps. So if they don't want to have any problems related to scams or hacking, much better for people to look for legitimate source then download those apps that they want.

Yes I do read the Terms and Conditions.  In the worst case, I will read as fast as I can skipping words or sentences here and there if I really have to quickly move through them.  But that has rarely ever happened.  People got very used to agreeing to Terms and Conditions with out reading them and even in real life when physical documents are served for signature they do the same.  Signing with out reading a single word.  Which is a REALLY BAD habit to have.  Read it or stop complaining after wards that you do not like some thing!

Out of curiosity, do you also read ToS when register or use less important website (such as entertainment website)? Sometimes i use website such as https://tosdr.org/en, https://terms.law/ToS-Watchdog/ or ask chatbot to point out red flag on copy-pasted ToS for such less important website.

The problem with other people is they don't pay much attention on what they think less important sites or platform.

That's why they missed those irregularities like force arbitration, excessive or to much collecting of data and worst the common one those hidden fees charge to their users. That's why even if we know the platform is not posses risk to us, we better spend some time reading their TOS to know all those things we need to learn from them. I'm not comfortable with the assessments provided by bots. Because sometimes they missed some details which also important for us to learn.

[joniboini]

I'm not comfortable with the assessments provided by bots. Because sometimes they missed some details which also important for us to learn.

But do you also think they might miss some crucial details from not-so important websites as mentioned above? By not so important, I guess we can include anything that doesn't hold a lot of our funds, requires a lot of permissions, needs complicated KYC at first glance, and so on. ToS seems abundant and AI probably have many data sources for that. Compared to complex coding algorithm I think they'll have easier time summarizing ToS from popular websites if the terms are well-defined.

[MadSl1m]

On the fake app part the thread is right. Terms get copy-pasted, so they prove nothing about authenticity, that is what signature checks are for.

Where reading them does pay is custodial services. Not the liability boilerplate, the operational clauses: which regulated entity is actually behind the product, what they can suspend, and with how much notice.

One from this month. Fiat24's own docs currently open with "due to maintenance works, we are currently not accepting any new Client Applications", and the front page carries the same line. Four wallet-branded cards run KYC through that single Swiss entity, and all four stopped being obtainable on one day. The issuer's own pages are where that showed up in plain language, so those are the pages I read now, not the brand's.

[EarnOnVictor]

Who here makes it a habit to check the developer details and terms and conditions before downloading a digital wallet?
Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.
This case serves as a stark reminder of the importance of verifying developer details before installation, given that even official distribution platforms can be compromised by imitation apps.

This is not about reading the terms and conditions, as these could be effectively cloned as well, but about being very careful and observant.

A while ago, although I wasn't ready to download the Polymarket app from the App Store, what I saw was almost the same logo as Polymarket, which was deliberate. It was my brother who cautioned me that Polymarket doesn't operate any app. Honestly, I might fall victim because, even though I have known Polymarket from the beginning, I am not used to Polymarket to the point of mastering their logo. That's how people fall victim.

[aioc]

Who here makes it a habit to check the developer details and terms and conditions before downloading a digital wallet?

It's important to read the terms and conditions, but it's much more important to check if the platform is legal and legit.

Recently, a user reportedly filed a lawsuit after losing $1.8 million from downloading a fake Bitcoin wallet app from the App Store. The malicious app deliberately mimicked the official version's interface to trick victims into entering their seed phrases.

Scammers can bypass listing on App Stores; they also run ads on social media, so if you're not good at verifying the right one, you'll eventually download or use a fake wallet.

This case serves as a stark reminder of the importance of verifying developer details before installation, given that even official distribution platforms can be compromised by imitation apps.

It's the responsibility and obligation of every investor to be educated and learn how to trace a fake from a true one.

[Renampun]

It's not enough to just check the terms and conditions of service to know whether it's a fake wallet or not.. most of the time, it's because they don't verify directly on the wallet's website and just download it without checking anything. Their negligence in not searching whether the wallet is trustworthy or not makes them lose all their assets. If only they had used a little brain and not just downloaded anything, maybe they could have avoided that.

[MarryWithBTC]

Op, does losing $1.8million has anything to do with reading of bitcoin projects terms and conditions?

There is no coherency between the title of your post and what is found in the body.

Or are you saying that the project stated in their terms and conditions that they are clone of an original project, that they are going to scam you if you register with them

Whichever way, it is not ethical. ToS is used to know the policies of the project, and does nor exonerate a project if they scam even if they included in their ToS that they are scammers.

[PrivacyG]

Out of curiosity, do you also read ToS when register or use less important website (such as entertainment website)? Sometimes i use website such as https://tosdr.org/en, https://terms.law/ToS-Watchdog/ or ask chatbot to point out red flag on copy-pasted ToS for such less important website.

Yes.  I even take time to read Terms of Service and Privacy Policies before placing orders on websites.  If the Terms are extremely long I generally rather not bother and I refuse to sign up at all.  Most of the time I see people complaining about a particular website, order et cetera, if they took their time to read the Terms first of all then they would have had nothing to complain because they would have known it can or will happen.