Common Cryptocurrency Scams

Be alert. Always be vigilant when you trade in cryptocurrency.

Main Scamming Tactics on XanPool

MAN-IN-THE-MIDDLE SCAM

Buying Item From Carousell, Amazon Or Any eCommerce Platform

Buyer looking to purchase an item online

  • Seller A Sends payment instructions to the buyer
  • Buyer made the payment but never received the item
  • Seller A becomes uncontactable

    • What the buyer doesn't known

  • Scammer uses a XanPool account and posed as an online seller
  • Once payment is made, the scammer received crypto
  • Buyer never received the item that was paid for

    • POST-PURCHASE-SCAM

    Making Transactions For The Employer

    Employer from Company B get an employee to create a XanPool account

  • Employee creates a XanPool account
  • Employee made transactions in his/her name thinking it is “normal“
  • Payments are made using company funds

    • What the employee doesn't know

  • He/She is engaged in money laundering activities for Company B
  • Bank account of the employee may be frozen because it is his/her name in XanPool
  • Detrimental legal consequences if found to be complicit

    • POST-PURCHASE-SCAM

    Love Scam

    Love scammer professed love very quickly after making contact

  • Convinces the victim to create a XanPool account
  • Gave victim money to buy crypto
  • Victim made transactions with 'dirty money'

    • What the victim doesn't know

  • He/She is engaged in money laundering activities for the lover scammer
  • Bank account of the victim may be frozen because it is his/her name in XanPool
  • Detrimental legal consequences if found to be complicit

    • Simple Rules to Follow

    Never send money to people on social media

    Never make crypto transactions under pressure

    Never create a XanPool account or make transactions for anybody but yourself

    Block and report messages from someone who pretends to be from XanPool

    Be sure that you are following the official channels of XanPool

    If you encounter any suspicious activity or know of someone pretending to be XanPool, please report to us immediately.

    Report Scam
    What are the other common cryptocurrency scams?

    Fake advertisements / product listings

  • Fake giveaways
  • Fake exchanges
  • Coin listing opportunities

    • Fake social media accounts

  • Social media accounts with the same profile pictures and names that redirects you ito the phishing site.

    • Fake comment

  • Fake profiles that comments on official pages
  • 'Deposit-to-get-rewards' tricks
  • No legitimate trader or company will use comments to promote themselves

    • Phishing website / email

  • Suspicious URL spelling
  • Website/email containing many spelling and grammatical errors

    • Fake communities

  • Telegram/Whatsapp group publicizing fake giveaways/events
  • Impersonating employees of the company

    • Fake token

  • Only use official links from official channels
  • Do proper research before buying a new token

    • All XanPool accounts are KYC verified for a reason

    To protect our community and users, all XanPool accounts are only approved after it is verified by industry standard KYC (Know-Your Customer) process.

    Users submit documents and a video with a handwritten note that verifies their identity before making any crypto transactions.

    This makes it difficult for scammers to create an account even if they stole someone's documents or video, since all the elements have to match to get an approval.

    Watch the video to learn more about crypto scams

    It takes everyone's effort to be vigilant, especially when you are buying and selling cryptocurrency online. While we are not able to fully eliminate scammers, we can certainly ensure that the necessary steps are taken to protect the interests of our community and cryptocurrency lovers.

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    How to Avoid Common Scams in Crypto | XanPool