Today, I almost fell into a well-designed scam, and I still feel uneasy recalling it.
At a dinner party, a man A, whom I had just met, learned that I play cryptocurrency and proactively mentioned a female friend B he knows. B has business needs and needs to exchange fiat currency for USDT through over-the-counter (OTC) trading. Due to trading limits and other reasons, B is willing to purchase USDT at a 6% premium over the market price.
Doubt One: Behind the high premium
Hearing '6% premium', I immediately became alert: With such a high premium, is the source of funds clean?
Man A explained that he and B once played 'poker' together and understood B's background—her family runs a beauty salon, fruit wholesale, and other physical businesses, so the funds are absolutely safe.
For now, I choose to believe and continue to ask for details. B is in another city, and the transaction needs to be conducted remotely. Man A said B trusts him and agreed to make a small payment before transferring USDT, suggesting to try a transaction of 3000 USDT first.
Doubt Two: Why must a middle wallet be used?
Before the transaction, B personally guided Man A (an outsider) on how to install #TrustWallet and kindly transferred ETH as gas fees and 10 USDT (ERC-20) to let him try transferring to B to familiarize himself with the process. B stated that as long as I transfer USDT to Man A's wallet, she would make the payment first.
This made me suspicious: The exchange clearly supports direct withdrawals, so why must it go through Man A's wallet?
I asked Man A to send my exchange screenshot to B, indicating that funds could be directly withdrawn. B replied that the exchange is not safe, and wallets have higher privacy.
To ensure safety, I suspected that Man A's wallet (downloaded through the link provided by B) might be manipulated by hackers. So, I created a new #TrustWallet on my own device, generated a brand new address, transferred ETH and over 3000 USDT into it, and told Man A to inform B that his previous device ran out of battery, and he switched to a new device, and the funds are ready for initial payment.
However, B flatly refused and insisted that the funds must be transferred to Man A's original wallet.
The truth revealed: A carefully designed trap
At that moment, I completely saw through the scam. Checking Man A's wallet transaction records, I found an 'authorization' operation.
The truth of the scam is: B's wallet, ETH, and USDT are all real, and the Trust Wallet downloaded from the App Store is also genuine. But under the guise of 'teaching you the process', B lured Man A to scan a QR code for a '0 USDT transfer', which actually signed a contract authorization. Once I transfer USDT to Man A's wallet, B can directly transfer funds through the authorization.
Warning: Schemes that are hard to defend against
1. Control your impulses: Don't let high profits cloud your judgment, especially when it comes to money.
2. Ask why more often: Any illogical operation should be thoroughly investigated.
3. Stay cautious: Even when dealing with acquaintances or those with 'trustworthy' backgrounds, be careful with unfamiliar transactions.
Fortunately, I was cautious and didn't fall into the trap. I hope my experience can remind everyone: in the crypto world, safety is always the first priority!