2

Full story:

That person contacted me with these details :

--edited

Before the cryptocurrency discussions initiated by the scammer, our initial conversation took place within the context of online dating on 'elitesingles.com.' The scammer quickly requested my phone number, which I initially declined due to not knowing 'her' well enough. However, I eventually provided it, and the conversation continued on WhatsApp until it shifted towards cryptocurrency.

--edited

  1. Short-term node transactions only occur when they occur, daily transactions can buy and sell coins at any time.

  2. Now more and more people are joining the blockchain industry, such as the famous former President Trump. Business celebrities such as Facebook founder Zuckerberg and the world's richest man Musk have flocked to the blockchain track

  3. No, node transactions require me to invest a significant amount of time in calculating their occurrence since they don't happen all the time. Once I determine when a node appears, I plan my trading strategy based on that specific node. It's different from the operational mode of stock auxiliary tools because this requires hands-on operation to ensure there are no errors.

  4. I am currently using a secondary market trading platform, its name is coincap.

  5. This is just a platform for me to operate node transactions, so there is no operation demonstration, because the trading node has not yet arrived, and any operation will cause a loss of funds. If you are interested, I can take you to experience it for yourself next time the transaction node comes, so that you will understand how it operates.

  6. The occurrence of trading nodes isn't easy, sometimes it's only about 2 to 3 times a month, occasionally more. It involves closely observing recent trends in the financial market, calculating trading volumes, tracking the movement of significant funds, and analyzing transaction volumes to determine the timing of the next trading node. This requires a lot of data to calculate.

  7. Yes, the usual node duration is pretty short, typically completing each trade within 30 minutes. After determining the timing of the trading node, I calculate a trading strategy based on my available funds. To guard against potential node fluctuations, I plan for approximately 5 variations in funds to prevent losses, ensuring that I minimize the risk to the lowest possible extent. Before the trading node appears, I also run a hash calculation to reassess. If the node fluctuations seem unstable, I might sacrifice some potential profits and opt for a more stable node

  8. I take risk awareness very seriously. In my work and decision-making, I always evaluate possible risk factors before taking action. This includes analyzing potential challenges, uncertainties and possible issues. I tend to have a response plan so that I can react quickly when faced with a risk.

  9. Question: So would be happy to follow you in a live session We can have a call with a video conference tool like zoom or teams or any other and see you on real time operating.

    Answer: When the node transaction comes, I need to concentrate on observing the data. At that time, I can teach you how to operate it by taking screenshots. This is intuitive and the process is very simple and not complicated, because the video will distract me a lot. You will understand its function once you practice it with me.

  10. Typically, my trading capital depends on the node time – there are 60s nodes, 90s nodes, and 120s nodes, each requiring different amounts of capital. Of course, the returns vary, and ensuring capital protection is crucial. In 60s node trades, the returns are approximately between 15% to 20%, whereas for 90s nodes, the returns range around 20% to 30%. However, higher returns come with higher risks, so it requires more capital to minimize the risk, involving various calculations and risk management. You asked a great question about this. Yes, when I initially delved into node trading, I did incur some losses, but experience is invaluable. Now, I've managed to minimize risks completely and operate with a well-planned trading strategy.

I am not entire familiar with these trading, does this look like a scam, anyone knows more about these strategies where to find reasonable explanation ?

Thank you!

4
  • Comments have been moved to chat; please do not continue the discussion here. Before posting a comment below this one, please review the purposes of comments. Comments that do not request clarification or suggest improvements usually belong as an answer, on Personal Finance & Money Meta, or in Personal Finance & Money Chat. Comments continuing discussion may be removed. Jan 26 at 19:42
  • 1
    I'll suggest that it would be an improvement if this question were closed, because it (and the OP's interactions in comments) look like it's part of a scam to direct readers to the various scam sites that it tells people to check out. Jan 26 at 20:50
  • This question is not a scam! I wrote this message myself. If you have any concerns, please reach out to me directly. I fell victim to this, and perhaps many others will too. This is meant to raise awareness for others. Hopefully, it will help prevent others from falling into similar situations!
    – b.lopes
    Jan 26 at 22:53
  • I have edited the question to provide more context
    – b.lopes
    Jan 26 at 23:03

6 Answers 6

48

All crypto is (subjectively) a scam, given that there is no external valuation metric, leaving the value purely based on 'future sales' ie: how long the hype train will last.

More to the point - anyone approaching you about 'novel' crypto ideas is (with 99.99+% probability) a scammer. The field is rife with them.

More specifically to the question you've raised here: if a random person tells you that they have a way for you to make money by sending them money, you must understand where they would profit. Are they providing advice for an up-front fee? Are they asking for a continual % of your future assets? Are they avoiding the subject, pretending that they are simply evangelists of the dawn of a new era?

I count MANY red flags in your question, all of which should be taken seriously, with the net result that this is, objectively, a scam. For example see the below 7 in no particular order:

  • It's a random person you appear to have no connection with;
  • There is no reason given to trust this person [eg. licensure with a governing body, or other direct confirmable association with credible entity];
  • The 'tech' is not yet online;
  • There is an appeal to how "everyone" is doing it [even the famously-trustable Donald Trump!];
  • There is an implication that it will be on "you" to perform the actions, leaving significant room for any loss to be blamed on you.
  • As mentioned - it revolves around crypto, shady at best, and filled with scammers at worst [just google "list of known crypto scams" or "crypto rug pulls" or "mt gox" or "ftx crypto" or "not your keys not your wallet"] to see some quick examples
  • They are offering returns of up to 50% - when even a 10% annual return would be questionable, and a 20% annual return would imply an insane level of risk. With 50% return, why do they need your money? They should enough money to do it themselves after just a few days! After all, starting with $1 and earning 50% per day would give them $600 Million dollars within 2 months!
1
23

When people write tons of text that you don't understand to appear smart and instill confidence in you so that you give them money, they're doing what is called a "confidence trick". These people are some times called "confidence trick men". Or, in short, con-men. They're trying to make you believe them and trust them when you never would had you knew their true intentions or really understood how the trick works.

So, when a con-man approaches you with a proposal, is it a scam? The answer is yes, con-men will scam you, that's what they do.

When you end up asking yourself "Is it a scam?" - the answer is almost always yes, it is. Anytime something looks too good to be true - it is most probably untrue.

0
8

Your bullet-point #2 is a clear giveaway.

I can not count how many times I have seen scams claiming that all kinds of celebrities or famous people have rushed to use this 'great opportunity'. Even Stephen Hawking have been claimed to give up physics to spend all his time to use this new investment strategy...!

And in the line of what others have mentioned already: If you by chance found a very effective and easy way to make boatloads of money, would you go and tell everybody about how to do it?

1
  • I don't think Stephen Hawking is spending all his time doing anything these days....
    – Vicky
    Jan 28 at 14:12
3

There is an overly complicated set of nonsense that you don't understand. Why on earth would you send someone money for this?

the video will distract me a lot. You will understand its function once you practice it with me.

So you can't watch it in action, but once you pay they will 'practice' it with you?

3

Leave aside the crypto jargon for a minute. Let's boil this down to the basic facts:

  1. A stranger came to you
  2. and offered to turn your money into more money
  3. by using a special technique/insight/connection that you can't find anywhere else.

That is a scam. That is ALWAYS a scam. Plain and simple.

In fact, you don't even need all three points. Point #2 is a screaming red flag all by itself (unless the person is a professional investment advisor with a fiduciary responsibility working at a reputable firm, and you contacted them).

Don't touch this "offer" with a hundred-foot pole.

3
  • That did not happen just like that there was more context in between and initially, but that was the crypto part only
    – b.lopes
    Jan 26 at 22:57
  • 2
    The "more context" is the part where the stranger tries to convince you that they are a friend and not a stranger. But they are still a stranger.
    – MJ713
    Jan 26 at 22:58
  • I have edited the question to provide more context
    – b.lopes
    Jan 26 at 23:05
2

Of course it's a scam.

It's a well-known scam going around, you can google it.

It's no more interesting than getting a "Nigerian prince ..." email. Forget it and move on.

Some basic tips

  • the instant someone mentions "LinkedIn", it's a scam

  • the instant someone mentions "owning companies", it's a scam

  • the instant someone sends you either videos or photos of a hot female, it's a scam

1
  • 1
    The instant someone cold-calls you asking for money you won't see it again. If you already owe them: it's a bill. If you don't owe them: it's a scam. Jan 26 at 17:09

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .