How to prevent OTC fraud?

Chapter 1 Basic Fraud

1.message fraud

If a fraud finds the phone number in your payment method after buying crypto, he or she will chat with you to delay time and then send you a fake transfer message to click confirm payment. If you release crypto without verifying the balance, it is easy to be cheated.

Reminder: The safest way to confirm the transfer is to log in the online bank to check the balance or use the APP to check it, and release after confirming the transfer

2.Pay for others

When the fraud chooses to use app to pay, he chooses the picture of “Please pay XXX yuan for others”, which is almost the same as the transfer picture. If the balance is not verified, it is easy to release without receiving the transfer.

At the same time, transfer also need to pay attention to whether the other party uses the limited amount of payment with QR code, such as scan the code after the direct display please pay XXXXX yuan, is directly set the wrong amount, such as you buy 500 yuan order, the other party set 5000 yuan, if not carefully verify the transfer amount easy to carry out more transfer.

Note: when using payment software to pay, please pay attention to the order, carefully observe whether the order information is correct.

3.PS Fraud

The swindler will send you a fake receipt after placing the order and clicking confirm payment. If you do not confirm the receipt, you can directly verify the receipt

Note: Log in the bank account to check whether the balance has increased, check alipay and wechat bills to verify the receipt of the account

4.Wrong transfer

The other party may intentionally make a mistake (transfer to their own), provide screenshot of payment to the merchant or customer service, and ask for release of crypto;

Note: check your account, the money did not arrive, do not release.

5.Fraudshave many orders with the same amount

Users will use different or the same UID with the same amount of money in a very short period of time to order many times, if you do not carefully check accounts, it is likely to fall into the trap, and then release crypto.

Case: the user had four orders of 1000USDT in a row, but did not pay after the fifth order, but clicked the payment, and the time difference between the last two orders was similar. If not checked carefully, order 5 is easy to release crypto.

Note: In this case, no matter how urged by the other party, it is necessary to check the order details, and check whether the payment account name is the same as the platform’s real-name verification. If there is one difference, no crypto will be released.

Chapter 2 Middle fraud

1.Two users place two orders with exactly the same amount at the same time. A does not mark payment after payment, while B does not confirm payment and provides A transfer screenshot urging release.

In this way, it is easy to make mistakes if the transferor is not clearly verified. In this case, A can provide the payment record to request release.

Note: don’t be in a hurry for order transactions. In case of orders with the same amount, be alert and check the transfer information one by one.

2.The order amount is 10000 yuan, pay 1000 yuan or the order amount is 1000 USDT, pay 1000 yuan and other similar operations.

Note: Such operations can be informed to the customer service, customer service to verify the specific situation. (This operation may be for novice users)

Chapter 3 High fraud

1.FraudstersA and B have anorder from you and invite you to add social accounts for long-term cooperation. After A period of time, fraudster A will change the wechat information to another person’s information, and then contact you to purchase. They want to make a face-to-face transaction and find someone to guarantee the transaction (the person will be customer service, official personnel or celebrity in the crypto), so fraudster B will change the social account to customer service for guarantee. A will set up A group with B, if you do not receive the money to transfer money, you will be cheated.

Note: Fraudster B may also pose as another member of the team to request crypto to be transferred to an address. It may also pose as a customer service to provide fake screenshots to defraud. CoinW staff will never make any guarantee.

2.A and C find B together through offline

A first find C and say: I am buying some coins, one coin is worth 10000 (the market price is actually a little higher than 10000), I will advertise, I call: B, you come over and shoot my order.

Then A goes to B and tells him: I have some coins to sell to you at a low price of 10000 a piece, you hang a good ad I’ll shoot, then let C take a screenshot of the order to himself, send the screenshot of the order to B, tell B to say A’s name in the order chat window or not to talk, then tell C on WeChat that he needs to transfer the money to his other account, in order to prove that it is his own ad, he will be in the chat window provide their names, and then C transfer money to A, B did not receive the money can not be released.

Note: Don’t say someone’s name in the order chat window, payment must be made to the payment method bound to the recipient and the platform shows the same real name.