The crypto market has seen a surge in popularity recently. As token prices rise, some users opt to exchange their crypto for fiat currencies. However, it’s essential to remain cautious during these transactions, as they can be affected by insufficient platform oversight, market volatility, and potential fraud risks.
Recently, a user named Xiaoyu reported being scammed while selling USDT (Tether) on a second-hand marketplace. Xiaoyu listed USDT worth around 5,000 RMB and requested the buyer to promptly confirm receipt to ensure a secure transaction.
A scammer quickly approached Xiaoyu and agreed on a price for the USDT. The scammer provided a payment address, and Xiaoyu transferred the USDT as agreed. However, after the transaction was completed, the scammer delayed confirming receipt and falsely filed a refund request with the platform’s customer service, claiming they had not received the USDT.
Although Xiaoyu submitted transfer and chat records as evidence to the platform, the customer service team, lacking knowledge of cryptocurrency, was unable to verify the details. As a result, the platform approved the scammer's refund request and the money was returned to the scammer.
PSA:
- If you need to buy or sell tokens, always use a professional trading platform and avoid trading on non-professional platforms.
- Fraudsters often lure victims with low prices, fake transaction records, and other deceptive tactics. Do not trust unfamiliar individuals or rely solely on a platform's credit rating.
- When making fiat deposits or withdrawals, ensure you comply with local laws and regulations.
imToken Is Always Protecting Your Token Security
In November, imToken marked a total of 5637 risky tokens, banned 995 risky DApp websites and marked 1393 risky addresses.
In addition, if you find any suspiciously risky tokens or DApps, please contact us: support@token.im to help more users avoid token losses.
Closing Thoughts
Scams are constantly evolving, it is indeed challenging for average users to fully prevent them. imToken is committed to rapidly detecting issues and finding solutions, providing timely messages to the community, and educating users about various types of scams to protect them from losses.
We encourage you to read and share imToken Wallet Security Monthly Report and join hands with imToken to safeguard your token security.