May 3, 2024

New divorce scheme on alleged crypto arbitrage

Fraudsters write to victims in private messages (they look for victims in specialized TG chats, 99% of them are their clients there) with an offermake money on arbitration, they assure that, inunlike trading, the scheme is win-win. They offer free signals, and as a reward they ask for 30% of the profit. The proposal is motivated by the fact that they allegedly want to earn on liabilities (to receive% of transactions, and to look for market inefficiencies themselves)

What is arbitration?This is a type of operation where you act as an "arbiter" between the buyer and the seller, buying from one cheaper and selling the same instrument at a higher price to the other. Arbitrage can be without the participation of third parties, for example, when you can take a loan at 3% and invest somewhere under, for example, 5% with the same level of risk. In the case of crypto, this is the purchase of a token on one exchange and sale on another, earnings come from the difference in rates (scammers allegedly find such exchanges on their own).

Now the crux of the scam:
"Pinocchio" deposits funds simultaneously forBynance (this is Binance, Karl) and to a fraudulent “exchange” (in fact, it’s just a website, all activity there is imitated by bots). On Bainens, the operation is carried out as standard, but on a fake exchange, funds are not withdrawn after establishment. The scammers “have nothing to do with it, it’s all a stock exchange,” they promise to involve supposedly lawyers, they drag out time and shift the responsibility to anonymous people. At the same time, they continue to process the victim, assuring that next time everything will work out. Naturally, problems also arise the second time, and then the naive Pinocchio is sent to a ban.

How not to fall for such and similar fraud schemes?
1. Stop believing in “miraculous” earning schemes.They either don’t exist, or they exist, but no one will tell you about them; such information most likely is not even reproduced and is used only by the author
2. Stop trying to earn “X” quickly, without knowledge, without assessing risks and without understanding what profitability is and what it depends on
3. Don’t trust strangers who, out of the kindness of their hearts, offer you to get rich, even if “on the shore” you don’t understand where the catch is
4.Don’t try to “sew seven hats out of a small skin”, read: disperse a meager deposit. Miracles do not happen, wonderful stories of enrichment cannot be repeated, and those who were able to do so are the darlings of fate; in 146% of cases you will not be lucky
5.If you don’t have money, invest in yourself, get an education and manage your money wisely. It’s better to earn a little (well, at least not to lose) than to lose without much chance of success

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