Scammer on localbitcoin

djohan (66) in cryptocurrency • 7 years ago (edited)

Hi Steemit

As the market was down yesterday, i purchased some more btc, and went to localbitcoins.com to buy.

local bitcoin.jpg

And after i purchased i saw someone in the 'sell bitcoin' section offering a price higher than the price i just bought BTC for by around 20%, meaning i can make a quick profit of 20% by selling it to him/her. Too good to be true, so i was suspicious and decided to find out.

And this is what's in the term of trades

"payment will not be in the account right away , but you must remain online and be ready to release the payment, We have compensated with a better buy rate"

So basically the correct procedure is you sell, and then your BTC will be held by escrow on the website, and then you wait for the money to be in your account, and then you release the BTC for your buyer.

And the scam procedure is, you sell, and then this person says he/she has transferred the money but as the bank is different from your bank, so it takes a few hours to appear in your account but it has been transferred, and then he/she will send you a fake screenshot of the transfer, and demands you to release the BTC, and then once released you will never receive the money as it was never sent, and the scammer changes to another name to scam someone else

If it looks too good to be true it probably is a scam

Thank you for viewing and be careful when trading

cryptocurrency bitcoin localbitcoin money

7 years ago by djohan (66)

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bitcoinman (61) · 7 years ago

Resteeming, Got to be real careful lots of scams in crypto

djohan (66) · 7 years ago

thank you bitcoinman, i think he was trying to lure people with the higher price he offers

bitcoinman (61) · 7 years ago

Yeah most likely, I had an opportunity to get for 20% off but that was from a friend of a friend in person and it was in person

theguruasia (67) · 7 years ago

@djohan,
I don't believe Local BTC! Coz, it has high price than normal market price for my country!

Cheers~

djohan (66) · 7 years ago

thank you theguruasia, yes price is a bit higher but if using other exchange we need to convert the money into USD sometimes

kevbot (56) · 7 years ago (edited)

"Get him outta here. Get im out."

djohan (66) · 7 years ago

thank you kevbot, unfortunately he will be back with new name after someone report him

kevbot (56) · 7 years ago

Ahh. Would you continue to use exchanges like these? Centralization from the likes of Coinbase seems beneficial for these instances requiring trust.

djohan (66) · 7 years ago

Yes definitely can trust coinbase more than the individual people we have never seen. But maybe i will continue using localbitcoin with the people i have traded with in the past

floridanow (61) · 7 years ago

This will be with us for some time I am afraid to say. There are so many scammers out there in all industries. My best to you.

djohan (66) · 7 years ago

thank you floridanow, yes the bad side of crypto is the scammers can disappear quick and without trace sometimes. Need to be careful and do research

yohan2on (74) · 7 years ago

Thanks for being very keen and wise at that moment. Its a lesson to learn that we have to be security conscious that is keen and alert while making crypto transactions online.

djohan (66) · 7 years ago

thank you yohan2on, yes security is very important in crypto, it might be the thing to improve in the future

freedomshift (64) · 7 years ago

scammers are out there big time for big $! Thanks for the warning, djohan.
I saw in the news that hackers stole from an exchange and caused BTC prices to drop 11%.

djohan (66) · 7 years ago

thank you freedomshift, i never leave the coins i bought in the exchanges also, security will be improved hopefully in the future

adnanrabbani (70) · 7 years ago

It seems like scammers develop new ways of scam everyday, i never use local bitcoin before but when i do i will stay cautious, Thanks for telling us regarding such scams friend, Stay blessed

djohan (66) · 7 years ago

thank you adnanrabbani, yes when everyone is aware of one scam method then the scammers will find a new way of scam

spiritualpower (55) · 7 years ago

We must need awareness for such type things .

djohan (66) · 7 years ago

thank you spiritualpower, we need to share experience so others are aware

pardeepkumar (56) · 7 years ago

Be aware from scamers, now days many faces such issues .

djohan (66) · 7 years ago

thank you pardeepkumar, yes better stay safe in crypto

dim753 (65) · 7 years ago

You have to be careful with localbitcoin because it's like ebay you buy what you want but you don't know who is behind the screen, and yeah there are lots of people selling bitcoin in ridiculous prices. Regards

djohan (66) · 7 years ago

thank you dim753, yes if we are careful and following the right process it will be fine though, good thing is there is no fake BTC.

goldcoin (66) · 7 years ago

Thanks for the scammer information and very useful .
Thanks @djohan
Have a great day

djohan (66) · 7 years ago

Thank you goldcoin, stay safe

madushanka (74) · 7 years ago

@djohan, You found best security information this time. If you wasn't attend them definitely our money going to be scammed. Thanks for update steemians.

djohan (66) · 7 years ago

thank you madushanka, yes it is best to be careful and share with others

martha75 (58) · 7 years ago (edited)

Hi @djohan,What a sadness that we can not trust others, for this we must be very careful with our wallets and cryptocurrencies, there is no shortage of those who take what we work.
Thanks for sharing:)

djohan (66) · 7 years ago

thank you martha75, yes when it's money related nearly no one can be trusted

kamchore (70) · 7 years ago

well said looks too good to be true are mostly a scam. Thanks for sharing the nice info about scam. keep sharing @djohan

djohan (66) · 7 years ago

thank you kamchore, yes we need to be cautious when things look too good

enriqueig (59) · 7 years ago (edited)

hello friend but you were not scammed

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milend (48) · 7 years ago

thank you for giving us very useful advice and warnings, I will be more careful to make a sale on all current assets, we must first check the identity of the buyer and remain cautious.
I am sure, they are not only targeting localbitcoin users.
is there any other alternative to this?

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korshed (47) · 7 years ago

well that's a good information you gave here, there are a lot of scammers and the way of cheating is also very different and hard to find. Thanks for revealing that one at least that will help someone.

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themanwithnoname (64) · 7 years ago

Good thing you were paying attention and caught it. That would have been rough to buy it and then have it get stolen right away. Good thing you were paying attention. You're right, if it seems too good to be true, it normally is.

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emmakkayluv (58) · 7 years ago

Omg! Thank God that you are extra careful, you would have ended up been scammed.

I think I have learnt something new here too. I need to be more careful with transactions as well.

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rehan12 (73) · 7 years ago

Well they sure do know how to scam people and thanks for the heads up will be careful in dealing with this kind of acts in the future.

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blazing (70) · 7 years ago

i tried to trade via it one time but looks very suspicious to me if something went wrong nothing can be done everyone say its good but even i feel like its more like to be getting scammed if not follow everything properly

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s4steem (50) · 7 years ago

your wise dealing make you safe from the scam. Thankyou @djohan for sharing your incidnet. All that glitters is not gold. so we should remain careful

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