Crypto Bounty Hunting - The Whatsapp Scammer

As always, I'm happy to share the funny things that I encounter while I'm on my missions as a crypto bounty hunter.

​

This case is a little different - my client fell for an investment scam through a contact via WhatsApp and ended up losing around 32k€ after sending them to a fake platform in USDC. As I keep mentioning, fake platforms are mostly identical to normal platforms these days, so you need to be extra aware of the dangers that lie in the crypto space. Just check the one below and see if you can tell whether it’s real or fake.

​

Spoiler Alert it's fake

A basic domain search quickly revealed that this domain had been created just two months ago, an unmistakable red flag. Such indicators should always be considered when evaluating the credibility of the next platform to entrust with your Bitcoin, Ethereum, or stablecoins.

​

https://preview.redd.it/bh4t124p2dpb1.png?1166&format=png&auto=webp&s=ef502db1ff5f82b058d5055a62d834725a762448

On the blockchain front, the victim himself undertook tracking efforts and managed to locate the wallets holding the funds. He reached out to me for assistance in identifying the exchange associated with these wallets and for support in recovering the assets. For those interested, the fraudster initially deposited the funds into one address, subsequently split them into two different wallets, and ultimately sent them to OKX.

​

With the cooperation of OKX, we temporarily managed to freeze the funds, which remain pending while conducting a more thorough investigation. However, the case took a darker turn when the authorities seemed initially reluctant to grasp that the information provided by both me and the victim was verifiable through the blockchain. They even questioned the authenticity of blockchain data. Fortunately, through the victim's perseverance, the detectives eventually reached out to the exchange and secured an extension of the freeze for the duration of the investigation. I remain optimistic that once the authorities confirm the illicit origin of the funds, they will be seized and returned to the victims.

​

This case may have broader implications than initially apparent, as the perpetrators laundered millions of USD in Ethereum, USDT, and USDC through these accounts. Hopefully, more victims will be identified, and their funds can be returned. Additionally, this case is particularly important in highlighting how little authorities still know about the crypto space and how important it is that they receive more training to deal with these new threats and scammers.

​

As always, the scammers get served some Queasy Justice, stay safe and freak the scammers.