Crypto Currents

Discussion in 'Free Thoughts' started by Saint, Mar 6, 2022.

  1. Saint Valued Senior Member

    Messages:
    4,752
    Someone contacts me to buy USDT tokens, transfer to hotwallet,
    then sell back to them, they give 10% profit.
    Example,
    500USDT, they pay you 550 USD,
    they will transfer money to your local bank first,
    then you transfer the USDT to an address.
    I ask him why like that? Why not they buy the USDT directly from P2P?
    He told me they want to get unregistered USDT.

    I had traded few times and made profit 100USD,
    but now they raised the transaction minimum qty to 2000 USDT, 2000, 5000, 10000.
    When I started they allowed 50, 100,200 qty.
    They said this is the merchant daily limits,
    is this a Scam.
    If it is scam, why they are willing to transfer you money first before getting the USDT from you?
    Are they not afraid you won't transfer USDT to them after getting money?
    Why they take the risk?

    What's the conspiracy of doing this trade?
     
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  3. Saint Valued Senior Member

    Messages:
    4,752
    The step is this,
    1) buy USDT in Huobi Global, P2P purchase.
    2) transfer your USDT to hot wallet Tronlink
    3) print screen of your tron link to show them you have USDT xxx quantity, worth USDxxx, give them your name, bank name, bank account, they will transfer cash to your bank account instantly, XXX + 10% profit.
    4) After you confirm you got the money back with profit, they give you an address or QR Code, you transfer your USDT to this address, Deal done.

    Why they do like that?
    They mentioned that the merchant wants Unregistered USDT?
    Why? For illegal and criminal purposes?
    What unregistered USDT can do?
    Why worth paying extra 10% for that?
     
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  5. RainbowSingularity Valued Senior Member

    Messages:
    7,447
    money laundering
    10% fee is a good price

    turning 100,000 of rapist sex slave drug money
    into 90,000 clean money cash

    is very good price

    if you dont care
    money is money
     
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  7. Saint Valued Senior Member

    Messages:
    4,752
    They will later cash out the USDT on other platform?
     
  8. Saint Valued Senior Member

    Messages:
    4,752
    You can see their offer below:

    [link to possible potential scam or money laundering site removed by moderator]

    Why not they buy the USDT themselves? Why go thru us?
     
    Last edited by a moderator: Mar 19, 2022
  9. Saint Valued Senior Member

    Messages:
    4,752
    Today that guy offers 1000 USDT onwards,
    I am afraid he wont buy from me.
    I lost all my money.
     
  10. RainbowSingularity Valued Senior Member

    Messages:
    7,447
    ?
     
  11. Saint Valued Senior Member

    Messages:
    4,752
    I did not lose any money.
    Yesterday I traded 1000 USDT and earned 100USD,
    he transfer my cost+profit into my local bank account instantly,
    and then I send the USDT to a specified Address.

    Please Register or Log in to view the hidden image!



    I do not know how long can this last, but he told me it has been 2 years since he started this trading. Wow, everyday earn 100 to 500 USD, kind of richman.
     
  12. Saint Valued Senior Member

    Messages:
    4,752
    I am scared too, because the tokens may become rubbish if they don't buy from me.
     
  13. Saint Valued Senior Member

    Messages:
    4,752
    it is scam, they hack people wallet and stole your USDT, got to stop.
    The tronlink wallet is a scam created by China.
     
  14. RainbowSingularity Valued Senior Member

    Messages:
    7,447
    they stole your money ?
     
  15. Saint Valued Senior Member

    Messages:
    4,752
    read comments in google play fot the apps Tranlink Pro, terrible.
    Scam apps.
     
  16. James R Just this guy, you know? Staff Member

    Messages:
    39,421
    This smells like a scam or a money laundering operation.

    If I were you, I wouldn't be handing over my banking details to potential criminals, nor offering to help them with their criminal activities.
     
  17. Sarkus Hippomonstrosesquippedalo phobe Valued Senior Member

    Messages:
    10,401
    Sounds dodgy, whether laundering or a scam.
    It could be a scam if they require you to use a specific wallet, as they may have hacked it and transfer your USDT out without you getting any money.
    If you could be sure about the integrity and safety of the wallet then it sounds like money laundering, for reasons given.

    Either way, I would always advise that if something sounds too good to be true then t's probably a scam.
    A number of scams give the mark/target a taste of possible rewards then up the stakes. The mark thinks the higher stake will equate to higher reward, only for them to lose the stake and get no reward.
    Your situation therefore rings those alarm bells: you started small, got some small reward, and now they're upping the stakes.

    Walk away. That would be my advice. If not a scam then still sounds like money laundering.
     
    RainbowSingularity likes this.
  18. RainbowSingularity Valued Senior Member

    Messages:
    7,447
    "anti money laundering & the financing of terror act"

    is a global agreement between many countrys to secure funds & process to ensure money is not being laundered for by to or in conjunction with terrorism or other illegal activities .

    as it stands saints bank accounts could be frozen & the money seized pending a full audit & investigation.

    some countrys have harsher laws for people who may appear to be frequently laundering money for a syndicate as opposed to just a single transaction.

    a relationship and set of transactions has been established so fines & imprisonment will be on the table if saint was aware of the illegal nature.

    there are some legal ways this might be just people attempting to buy anonymous funds
    but due diligence is required legally by saint
    & that has not happened which probably aligns it a bit to be like stolen property.

    hopefully you dont have corrupt police

    quit while your ahead
     
  19. Saint Valued Senior Member

    Messages:
    4,752
    Luno is using Nested SegWit address to send and receive.
    https://www.luno.com/en/my

    Can Electrum Wallet sent/receive BTC to and from Luno wallet?
    The address starts with 3 (P2SH).
     
  20. Saint Valued Senior Member

    Messages:
    4,752
    I don't understand one thing.
    You can but bitcoin on so many platform, coinbase, coinmama, bitpanda, binance etc.
    Where do they get bitcoins to sell you?
    When Tesla or Micro-strategy say they increase their bitcoins purchase, up to a few hundreds millions USD,
    who has the quantity of bitcoins to sell to them?
    For example, you are a merchant who sells gold, before you can sell gold, you must purchase gold first, from somewhere, before you can sell gold to your customers.
     
  21. sideshowbob Sorry, wrong number. Valued Senior Member

    Messages:
    7,057
    You exaggerate.
     
    James R and exchemist like this.
  22. Saint Valued Senior Member

    Messages:
    4,752
    Why do Coinbase, Binance etc have BTC to sell?
    Where do they get the BTC?
     
  23. James R Just this guy, you know? Staff Member

    Messages:
    39,421
    There are two ways of getting bitcoin: mine it or buy it. Right?

    So, the companies you mention must do one or the other (or both).
     

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