OTC SCAM: Just explaining this scam so that none of you fall for it.

17 Apr 2023, 05:07

OTC SCAM: Just explaining this scam so that none of you fall for it. We do not want any of you (especially whales and sharks) falling for this as it can very badly impact us. I had the help of @threeErrorsCapital to help me sniff this one out. An affable agreeable person will DM you saying they are looking to do an OTC deal at spot price. They will agree to doing an amount with you and then ask you to do a smaller real OTC deal to build up trust. They will ask if you have wintermute accounts or other escrow services. They will offer to hook you up with other OTC people. When they do the smaller real OTC deal they will also send you fake DAI as well hoping you will interact with it or get confused so they can empty your wallet. Once the first smaller real OTC deal takes place they will then say they want to bring a trusted third party. Someone YOU trust. Not even their guy. This is so they can create a fake account and spoof being your friend. They will send DAI to this fake friends account. You will be able to see it and think its your friend. You will then send your tokens to this fake friend. It is not your friend. They will also try and confuse you by speaking to you on discord or telegram or other places. This is to take your eye off the ball. If someone wants to do an OTC buy deal i suggest coming directly to me. Do not trust anyone that doesn't have their reputation on the line.