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Sirwin
scam

Crypto Scam: Don't let this happen to you!

By cmoneyspinner | CryptoBloglines | 20 May 2023


This is the continuing story of my crypto scam nightmare.

(I discussed this incident in a previous article.)

I'm from the USA. But the people who screwed me over are based in Nigeria. I blame myself for being trusting and believing in the good in people. One shouldn't judge a person by country but by character. Right? In this instance, I'm wrong! I have heard plenty of stories about people who have been defrauded by Nigerians. But this guy was all over social media and active in many of the online forums where I am active. He really did seem to be an honest and very likable person.

So this is what happened.

I was approached by this guy and asked to use my PayPal to receive funds from his friends to be converted into crypto (LTC). Evidently, his friends worked hard and wanted to convert their money into crypto. I agreed to receive payments via PayPal, transfer the money to Coinbaase, purchase the Litecoin with that money, and send it to the guy. He told me to take a small amount from the money sent as a “fee”. He also took a “fee” but paid the rest to his friends per their agreement. Using the wallet address provided I sent the LTC to him.

It seemed like the transaction went smoothly EXCEPT ...

Months later the person who sent money to my PayPal account filed a Dispute, accusing me of being a scammer, saying they never received anything, and they want their money back. PayPal sides with the buyer; and reverses their transactions in my account. My account now shows a negative balance. OBVIOUSLY!! Obviously, the balance is negative because the money was converted to crypto and should have been sent to them.

IT'S MY IGNORANCE AND STUPIDITY & I KEEP KICKING MYSELF!

I can show the trail of where the money went into then PayPal, then it was transferred to Coinbase, converted into crypto, and the crypto was sent to the guy. BUT! I got no proof of what he did once he received the crypto from me!!

When I confront the guy who received the LTC, first he denies it. I keep hammering at him and then he confesses that it wasn't him, it was his cousin who did it. I'm like: What cousin?? The agreement was between you and me. Where did this other person come from? I was only dealing with YOU!!

No matter WHO. I'm the one with the negative balance and PayPal is demanding payment from ME!!

He “promises” to pay me back but asks me to close my PayPal account so the transaction can be handled “off the record”.

WHAT??? You want me to cover up your crime???

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HE SAYS (since he's a student in college): The matter was reported to school officials and an agreement was brokered to pay me back $250 - $500 a month until paid in full. I have managed to squeeze $200 out of him. That last time, I confronted him (a few days ago) this was HIS EXCUSE: The school management took fees because they had to manage this case, but he will send me a payment of $300 by June 22, 2023. HE IS LOADED WITH CONVENIENT EXCUSES.

  • I have proof the money from PayPal was converted to LTC and sent to his wallet. But Coinbase says all the transactions are irreversible. In other words, I'M SCREWED.

What lesson have I learned?

When you get screwed nobody comes to your rescue.  With PayPal and Coinbase, I was stuck between a rock and a hard place.  The FBI has an Internet Crime Center where you can file a report.  That did me no good.

Good people! DON'T LET THIS HAPPEN TO YOU!!

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cmoneyspinner
cmoneyspinner

Freelancer since 2007. Always looking for various ways to make money online.


CryptoBloglines
CryptoBloglines

Freelance work-at-home professional since 2007. Blogger, article writer, affiliate marketer, and crypto enthusiast. Enjoy publishing content on a wide range of topics. Bloglines is mainly for crypto-related content. Happy to be a part of the Publish0X team.

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