Next, we will expose some of the fraudulent methods of "Black U Scam" to prevent more people from suffering losses.

I was cheated when I bought black U online.

"Black U should be around 6.2 to 6.4 at the moment. Anyway, I bought it." ——Xiao xx posted on 2022.8.3

"Don't believe this. I was tricked into using 30,000 U." - Xiao xx posted on 2022.8.16

The above content comes from two posts on an encryption community forum. A black U buys a black U and becomes a completely different person within 13 days.

Scammers contact victims through various channels. After establishing a certain foundation of trust, they claim to have channels to sell black U at a low price, but in fact they sell fake U.S. dollars. A common fraud method is that the fraud gang builds trust through small-amount transactions, making the victim mistakenly believe that there is a bargain, and step into the trap step by step, and finally receives a fake U.S. for a large-amount purchase.

This is actually a typical cryptocurrency pig-killing scam, with low technical content, but a very accurate grasp of the greed in human nature. Earlier, the Bitrace team assisted victims in the "HT Brick Arbitrage Fraud Case" to recover defrauded assets, and the "BSC Interest-earning Fraud Case" in which they are currently assisting in asset recovery fall into this category.

I was robbed while buying black U offline.

Similarly, offline OTC robbery crimes targeting currency speculators are often combined with blackmail. Criminals falsely claim that the USDT in their hands is the funds involved in the case (or it may really be the funds involved in the case), and they are willing to sell it quickly at a low price, but they only accept offline transactions. Their purpose is to deceive the victim into arriving at the destination, and then use forceful means to transfer the funds. Cash taken.

Some victims either believe that personal trading or holding of cryptocurrencies is illegal and are unwilling to call the police out of misunderstanding, or they themselves are engaged in illegal activities and have been raped, so they naturally dare not contact law enforcement agencies. Criminals take advantage of this fear to evade legal sanctions. In related cases, the Bitrace team disclosed this in a previous article: Beware of Criminal Risks in Offline Trading of Cryptocurrencies.

Detect theft of black U

With the emergence of a large number of "reverse freeze" cases of exchange accounts or on-chain addresses, cryptocurrency adopters are gradually realizing the harm of black and gray crypto funds to their own transactions or businesses. Therefore, despite the lack of identification ability, wise participants We have begun to establish a capital risk control mechanism to prevent accounts from being restricted.

Coin thieves have taken advantage of this demand, falsely claiming that a website or tool can detect whether the USDT in the encrypted address is the funds involved, but in fact what is provided is a phishing link. After the victim accidentally authorizes it, the assets in the address There will be a risk of loss.

There are countless such phishing and fraud activities, and it is not uncommon for encryption security company websites and social software to be impersonated and attacked, causing huge losses to investors who blindly trust them.

Not afraid or greedy

We can intercept malicious programs, code vulnerabilities, flash loans and other attack methods through technical means, but non-technical baits, PUAs or lies are not so easy to prevent.

This is the case with this type of "black U scam". They do not have a very high technical content, and they do not easily cause a single loss of hundreds of millions of dollars. However, as traditional mature scams in the web3 field, they have a good grasp of human emotions. It is accurate and effective, so it covers a wider range of people and causes greater damage.

For investors in the industry, perhaps controlling one's own emotions is as important as the safe use of encryption tools.