TalkScams Team · Source-backed educational guide · Not a community report
Small crypto withdrawal used as bait for a much larger deposit
A fraudulent platform might let a victim withdraw a little money so the scheme appears credible. After a larger deposit, the operator can refuse withdrawals or demand additional funds.
Source: U.S. Securities and Exchange Commission · Original advisory date: 2024-05-29
This summary is not a firsthand report or an endorsement or partnership by the source.
Warning signs to recognize
- Early withdrawals work, but larger balances become locked without a clear lawful explanation.
- The promised return is not supported by an independently verifiable record
How to check or protect yourself
- Stop additional transfers and preserve wallet addresses and transaction records.
- Keep transaction details and report suspicious investment solicitations
Read the original U.S. Securities and Exchange Commission advisory