Questions tagged [deposit reversal]

Bianca Sun Jul 14 2024 | 5 answers 1161

Have you heard of the Bitcoin deposit reversal scam? It's a deceitful tactic employed by unscrupulous individuals seeking to defraud cryptocurrency users. This scheme typically involves promising investors high returns for depositing bitcoins into a seemingly legitimate wallet or exchange. However, once the deposit is made, the perpetrators reverse the transaction, effectively stealing the bitcoins. The victim may not even realize what's happened until they try to withdraw their funds and find them missing. This type of scam is particularly difficult to detect as the initial deposit appears legitimate, but the reversal is often done in a way that's difficult to trace. It's crucial to be vigilant and research any investment opportunity thoroughly before sending bitcoins.