Understanding offline transaction scams
Offline transaction scam are one of the most common types of fraud. Scammers often lure customers with low-priced swag, high return, or high buyback prices. After customers transfer their asset to the scammer's account, the scammers either refuse to deliver the goods or block and delete the customers, resulting in a total loss of asset.
Scam 1: Inducing customers to purchase "low-priced swag".
Scammers contact customers through social media platforms like Telegram and WeChat, enticing them to purchase recharge cards, fuel cards, phone cards, game accounts, software, mobile phones, QQ accounts, and mobile data at prices lower than the marketplace rate. After customers transfer funds to the scammers' accounts as instructed, the scammers will refuse to deliver the goods for various reasons or block and delete the customers.
Scam 2: Offline buying and selling of cryptocurrencies.
Scammers attract customers to sell coins at prices higher than the marketplace rate. After the customer withdraws their coins, the scammer blocks the customer.
Scam 3: Inducing customers to withdraw funds to a scam platform.
Customers are lured to withdraw their funds to scam platforms under the pretense of high returns to conduct transactions. Initially, they may receive some profits, but later, after investing a significant amount of funds, they will face continuous losses or be required to pay margin fees, which prevents them from withdrawing their funds.
How to prevent it?
Be cautious of private messages sent by strangers via social apps like Telegram, IM, and WeChat. Do not trust them easily. Avoid having a mindset of wanting to take advantage, as this can lead to being exploited by malicious individuals.
Do not trust enticing offers. Private trading carries significant risks. Be cautious of information on social media that promotes high-priced purchases or low-priced sales, which may encourage the use of digital assets for virtual recharge card transactions. Stay alert to any claims of "high returns."
OKX does not encourage customers to conduct private transactions outside the platform. Private transactions do not comply with the platform's transaction procedures. If you encounter a scam, the platform will be unable to assist. Please try to conduct your transactions on the official transaction platform.
If you encounter risks in trading or suspect that you have been scammed, immediately stop the transaction and implement SL. Save the chat records with the scammer and any my trades on the fraudulent platform. Contact OKX customer support right away for assistance.
Click the link to learn more: The most common scam: Recharge card scams