An alternative approach to purchasing crypto with confidence

Fake messages from the support service are a common technique of scammers in the field of cryptocurrencies and NFT. For example, if you have difficulties working on a popular P2P platform and you have asked a question on social networks, a scammer can impersonate a representative of a P2P exchange and offer help. It will then redirect you to a fake website that looks no different from the real one and convince you to enter your credentials or cryptocurrency wallet details. This way your confidential information will be transferred to the attacker.

In order not to become a victim of deception, seek help only from official representatives of the P2P exchange and carefully check the domain of the site. Sometimes attackers also send fake security threat messages by email or SMS. There is only one way to protect against them: do not click on the links until you verify the authenticity of the source.

When concluding a P2P transaction, you also need to carefully check the information that the counterparty sends you. A scammer can send a fake screenshot, allegedly he fulfilled his part of the deal, and demand that you fulfill yours. If you do this without checking whether the funds have actually been received, you may lose your money without receiving anything in return.

In order not to fall for the bait of intruders during P2P transactions, always check your bank account or cryptocurrency wallet. Allow the transfer only after you are sure that you have actually received the required amount. Never transfer funds solely on the basis of receipts.

Sometimes an attacker can try to cancel a P2P transaction after it takes place. For example, he can call his bank and claim that the transfer amount is incorrect or someone has gained unauthorized access to his account. In this case, the seller of the cryptocurrency will lose the transferred funds. Moreover, scammers can use threats to force him not to report the cancellation of the transaction to law enforcement agencies.

Do not let yourself be intimidated: collect evidence (for example, screenshots) of your correspondence and transactions with the scammer.

On some P2P platforms, there is a refund function that can be used by scammers. After completing the P2P transaction, the attacker can submit a request for a refund and indicate that he did not give permission for the transfer of funds. He may claim that the transaction was erroneous or even fraudulent in order to achieve the cancellation of the initial payment. As in the case of fake receipts, the seller can confirm the transaction in a hurry without making sure that the funds have been credited to the account.

Get into the habit of taking screenshots of all transactions to prove that they were made, if necessary. This will speed up the appeal process if you have to contact customer support in connection with fraud.