There is a new scam targeting bitcoin traders on Localbitcoins.com that target Bank Of America accounts. This is meant as a warning only
Currently the scam only seems to be operated by a small group of scammers. To avoid other scammers adopting this method I will not be sharing any specific details about the scam.
Here is what I can shared
- Scammers are targeting cash deposit trades
- It is not the deposit reversal or “man in the middle” scams that are commonly known
- They are coming from buyer accounts with 15-75 trades and less than 3 months old.
- There currently is no way to detect the fraud and even a few large sellers with a lot of experience have been scammed
- The current recommendation is to hold all BOA trades for 24 hours
I do realize many will not believe me without more details but I cannot share them at this time. Every seller should decide for themselves what risk they are willing to take and if they will heed this warning. I will update this once more details can be shared.