Dont be a Victim of man-in-the-middle scam technique.

One of my bitcoins merchants saw himself inside DSS cell for days and ended up spending over 300k to get himself out of the situation he found himself.
He was innocent.
He only went to his bank to find out why his recent transactions were not going through and found himself in cell.
He was a victim of man-in-the-middle scam.
Let me explain.

Lets say there are 3 guys. A, B and C.
A is a legitimate bitcoin seller
B IS the scammer
C is a person wanting to buy bitcoins

B advertises to sell bitcoins (a lot of these niggas who join whatsapp group advertising their bitcoins fall here) and C indicates interest in buying $100 and wants to make payment.
B then gives C the account number of A and C innocently makes payment. B then contacts A that he just made a payment for $100 bitcoins and sends A his own bitcoin wallet. All this while, A and C have no knowledge of each other and so he sends the $100 bitcoins to Bs wallet. Once B receives the coins, he blocks C on whatsapp or stops taking his calls.

Now C realizes he has been scammed but has the account number of who he made payment to (innocent A). He goes to the police then A finds himself inside cell.

Prevention if you are seeking to buy bitcoins:
*Buy from tested people only.
*Buy from tested websites
*Buy from tested websites that offer escrow service.

Prevention if you are a bitcoin seller (or hope to be)
*Know your customer : Ask if he's sending from his account the you can ask for his identity card and match with the name on the CR alert you receive.
NOTE: you ask him for his name BEFORE the transaction and later ask for his ID CARD (or any proof of his identity) AFTER he sends the money to find out if you suspect a scam.
*Extra care when in the middle of a huge
deal. It could be $200, $1k or $10k.
*compare his name with the name on the CR alert you receive.
*Transact only with people that another person you know can vouch for.
*Ask how they got your contact, and verify that thats how they did.
*A combination of the above
*open your eyes for irregularities in what he tells you

The more doubts you have the more you should seek further assurance its not a scam.

Basically dont transact with people that seem shady/have reservations about. Better a little caution than DSS cell.

Also note this risk is inherent in bitcoin business and right now cannot be totally eliminated (i stand to be corrected) so try to transact within reasonable limits you feel safe.

Also keep at the back of your mind that a lot of people can be dubious and transact with you succesfully a few times to gain confidence and then involve you in a scam. Always maintain scepticism in all your dealings.

Follow my facebook investment page
/InvestmentwithChinedum

Chinedum Onwuka

you are right sir, may god protect us

Escrow and Customer Service, these are the things that
should be looked at when buying or trading for bitcoins.

Those are the things I loved about Paxful.

chinnyonwu:
Dont be a Victim of man-in-the-middle scam technique.

One of my bitcoins merchants saw himself inside DSS cell for days and ended up spending over 300k to get himself out of the situation he found himself.
He was innocent.
He only went to his bank to find out why his recent transactions were not going through and found himself in cell.
He was a victim of man-in-the-middle scam.
Let me explain.

Lets say there are 3 guys. A, B and C.
A is a legitimate bitcoin seller
B IS the scammer
C is a person wanting to buy bitcoins

B advertises to sell bitcoins (a lot of these niggas who join whatsapp group advertising their bitcoins fall here) and C indicates interest in buying $100 and wants to make payment.
B then gives C the account number of A and C innocently makes payment. B then contacts A that he just made a payment for $100 bitcoins and sends A his own bitcoin wallet. All this while, A and C have no knowledge of each other and so he sends the $100 bitcoins to Bs wallet. Once B receives the coins, he blocks C on whatsapp or stops taking his calls.

Now C realizes he has been scammed but has the account number of who he made payment to (innocent A). He goes to the police then A finds himself inside cell.

Prevention if you are seeking to buy bitcoins:
*Buy from tested people only.
*Buy from tested websites
*Buy from tested websites that offer escrow service.

Prevention if you are a bitcoin seller (or hope to be)
*Know your customer : Ask if he's sending from his account the you can ask for his identity card and match with the name on the CR alert you receive.
NOTE: you ask him for his name BEFORE the transaction and later ask for his ID CARD (or any proof of his identity) AFTER he sends the money to find out if you suspect a scam.
*Extra care when in the middle of a huge
deal. It could be $200, $1k or $10k.
*compare his name with the name on the CR alert you receive.
*Transact only with people that another person you know can vouch for.
*Ask how they got your contact, and verify that thats how they did.
*A combination of the above
*open your eyes for irregularities in what he tells you

The more doubts you have the more you should seek further assurance its not a scam.

Basically dont transact with people that seem shady/have reservations about. Better a little caution than DSS cell.

Also note this risk is inherent in bitcoin business and right now cannot be totally eliminated (i stand to be corrected) so try to transact within reasonable limits you feel safe.

Also keep at the back of your mind that a lot of people can be dubious and transact with you succesfully a few times to gain confidence and then involve you in a scam. Always maintain scepticism in all your dealings.

Follow my facebook investment page
/InvestmentwithChinedum

Chinedum Onwuka

Hello I was banned in the investment section by spam bot.

Bill Shihara CEO of bittrex announced it in a radio podcast about the pairing with USD

Link below, you can also Google it.

They no what is coming and they want to act fast because if usdt goes to zero, they will be bankruptcy.

https:///gRI5RWdeDc

There's no shortage od scams in the crypto space