Exposing All Scams and Fraud Tactics in Web3#
The following content is based on personal experiences, aimed at providing warnings ⚠️ for novice and experienced investors alike, reminding everyone to learn more, observe more, and act less impulsively!
1. Social Media#
Adding Friends via C2C or WeChat Groups#
Scammers often display fake profit screenshots in WeChat Moments, claiming to make continuous profits from contract trading on major exchanges while flaunting luxury goods. When you inquire via private message, they may propose a profit-sharing agreement where you bear the losses and share the profits; or they may lure you into unregulated exchanges, leading to financial losses.
TG or X Ads for Arbitrage (Illegal)#
1. Offering high exchange rates (e.g., 1:2), but not honoring them after the transaction, disappearing with the funds.#
2. Impersonating official mining pools, using shills and high-yield promises to attract users#
Such automatic group-adding behaviors are common on Telegram, mimicking official names and using shills and high-yield disguises to attract users. Once hooked, users will be blacklisted.
3. Fake USDT schemes, assuming the other party agrees to exchange, may send fake USDT to your wallet. Please use the OKX wallet directly; real USDT will display automatically without needing to add any contracts.#
USDT token contract address on Ethereum (ETH) chain: 0xdac17f958d2ee523a2206206994597c13d831ec7
USDT token contract address on TRON (TRX) chain: TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t
USDT token contract address on BTC (OMNI) chain: 1NTMakcgVwQpMdGxRQnFKyb3G1FAJysSfz
USDT token contract address on TRON (TRC-20) chain: TU9mNrsFuBLnjN2aUHS3onUbJHK8UPZauE
USDT token contract address on Algorand (ALGO) chain: PCFJdYZoHUDvzyTFi3tuX11DVjpkxHSu9KUAiWbDcW
USDT token contract address on Arbitrum (ETH) Layer 2 network: 0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9
USDT token contract address on Polygon (MATIC) Layer 2 network: 0x7ceB23fD6bC0adD59E62ac25578270cFf1b9f619
2. On-Chain Scams#
Tools Requiring Key Disposal#
When using personal development tools, it is recommended to operate with a new wallet. For on-chain trading tools, aggregation tools, or airdrop assistance tools, if they require entering keys or mnemonic phrases, handle with caution, using only small wallets with no funds or avoiding them entirely.
Wallet Authorization#
- Friends met in the Web3 environment may be scammers; criminals may approach under the guise of exchange fees. In early tests, they may transfer small amounts to build trust, then send wallet authorization codes (not payment codes). Once authorized, wallet funds will be emptied.
- It is common for someone in the community to post mnemonic phrases, claiming the wallet has assets but lacks Gas fees (like ETH or TRX). If you recharge Gas, the funds will be immediately stolen (they use multi-signature wallets or technical means).
Impulsive Behavior#
- Some in the community display fake high-yield records, or KOLs (Key Opinion Leaders) promote impulsive behavior, which is actually self-set manipulation.
- Paying to join groups is a common form of scamming; it is advisable to invest time in independent research.
3. Virus Files#
TG Sending Virus Files#
If you receive a file from a stranger via TG private message (named like a bill, mnemonic phrase, or wallet password), do not click it. If accidentally opened, the virus will infect your computer, requiring immediate system reinstallation or device replacement.
TG Message Verification for Account Theft#
Someone may impersonate an official TG account, claiming account anomalies and requesting verification. Do not click any verification links received; TG accounts generally do not have unexplained anomalies, or they may easily be hacked.
Chat Virus Software#
Downloading unofficial chat software may implant viruses. Always confirm the official source before downloading software from any unfamiliar links.
4. Impersonating a Well-Known Exchange or Project#
Criminals infiltrate official communities, using avatars and names similar to official personnel.
Guiding Transfers#
When asking questions in the official group, they may proactively message you to guide transfers.
Early Investment#
Impersonators in Web3 groups may privately message offering early investment opportunities, requiring direct transfers (funds disappear after transfer).
Replying to Fake Websites Under Genuine Official Tweets#
During airdrop queries or claims, fake links may appear in the replies under official tweets. Clicking and authorizing your wallet will result in funds being emptied.
Receiving Non-Official Texts Requesting Link Verification#
The phone number linked to the exchange may receive fake verification texts. Clicking the link may lead to theft of funds from the exchange account.
5. Impersonating Friends to Borrow USDT#
Friends Hacked#
If a friend's Twitter or TG account is hacked, they may privately message to borrow USDT or request transfers. Always confirm their identity directly via phone.
Avatar Name Changed to Friend#
TG and DC platforms can be chaotic; verify identity repeatedly through WeChat.
Using AI Face Swap Videos to Lower Guard#
When receiving a selfie video, it may be an AI face swap forgery. Always call to confirm identity.
6. Pretending to Be a DeFi Project with High APR#
While there are many opportunities in the crypto space, high annual percentage rates (APR) in DeFi come with complexity. Novices are easily misled, overly relying on non-constructive investments.
Pig Butchering#
Private messages promising high daily returns (e.g., 1%) are actually Ponzi schemes, and participation will lead to capital losses.
Gambling#
Claiming that gambling websites have loopholes, allowing for arbitrage with high returns. Unregulated platforms aim to defraud principal amounts.
IDO#
Rallying participation in early IDO investments often results in total loss or becoming a stepping stone. After the token issuance, prices plummet.
In summary, opportunities do not fall from the sky; they often come with risks. This article is based on personal experiences, and additional scams are welcome for inclusion. Wishing everyone successful investments.
from @SocialismSuccessor
🔥 Solving the Issue of Inaccessibility to OKX Exchange in China#
Many exchanges' original domain names may be blocked or slow to access, usually due to network restrictions rather than platform issues. Exchanges regularly update backup domain names to ensure users can continuously access the official website.
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- OKX backup domain Overseas OKX - Requires VPN or Alternative link
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- Binance backup domain Binance
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- Bitget backup domain Bitget
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- Bybit backup domain Bybit/Bybitglobal
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- Huobi HTX backup domain Huobi (Huobi/HTX)
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- Gate backup domain Gate.io (Open Sesame)
🔥 Recommended Reading#
2025 China's Top Ten Virtual Currency Trading Platforms Latest Ranking is Out 🔥【Worth Collecting】
🔥 Useful Tools for Alpha Finding#
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3️⃣ dbot Dog-Charging Tool https://app.debot.ai
4️⃣ Morelogin Multi-Account Fingerprint Browser www.morelogin.com
Everyone is Searching#
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