Ethereum update: Here’s a scam that many ETH buyers seem to be running on LocalEthereum
You put the ETH in escrow and wait for their wire payment. They mark it as paid and send you “proof” (screenshot, photo, w/e – it doesn’t matter as it’s easy to fake). Then they have various ways of justifying why you should release the escrow, even though you can’t see the money in your bank account yet. One popular reason is “Did you even read my Terms Of Service? I wrote there that the escrow must be released as soon as I provide proof of payment. I need the ETH fast!”.
Honestly, I tried a few trades and now, two weeks later, I just decided to give up and withdraw all. I haven’t managed to make any actual sale, and I lost time providing proofs to support in order to get my ETH back. All the fake buyers had “completed trades” on their accounts and good feedback, because again these are easy to build up through the use of multiple accounts.
About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: laurbyteball
Score: 16
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