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Weekend Alert #2 - new long timer account HACKED & more forumites SCAMMED - with a scary twist
MsMorrisine
Posts: 35,656 ✭✭✭✭✭
2 threads are both must reads -
https://forums.collectors.com/discussion/1115332/it-appears-that-another-account-was-hacked-promethius88
https://forums.collectors.com/discussion/1115339/dear-bst-users-and-other-concerned-parties#latest
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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another forumite has suggessted to stop using crypto and PPFF
Yes, nobody here should ever buy coins using crypto. I got this PM from the account and suspected it must be hacked:
Same.
Edit to add: Not just crypto because they did con another longstanding member here via Paypal transaction. This after producing a picture of a verizon bill with correct name and address of the real @PROMETHIUS88. I hope they get this scumbag. RGDS!
I've had two inquiries about my BST listings that I don't feel great about. One offered to pay via crypto, the other wanted pics and never responded when I did. I'm about ready to take down my BST listings. Isn't it possible for PCGS to flag a long-standing account that suddenly changes a password or logs in from a new ip address?
I knew it would happen.
Maybe prohibit BST listings for 14 days after an email change?
I got the same message.
PMs have counter-party risk.
Knowledge is the enemy of fear
everything has counterparty risk when you are transacting long distance with a stranger. Due diligence my friend.
PMs become promises when not transferred hand to hand. Promises are what carry the counterparty risk.
No Way Out: Stimulus and Money Printing Are the Only Path Left
your clue to being hijacked is being locked out of your account. This is because your hacker changed your password.
Would be a good idea for our host to provide a phone number or an email where a hacked account holder can make an immediate report to PCGS.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I suspect it begins with a message from a new forum account (the hacker) to the targeted victim. the response to the hacker likely opens a door to private info. beware of responding to messages from low post forum members for now. If you do, change your password after the communication.
No Way Out: Stimulus and Money Printing Are the Only Path Left
If you are selling on the forum I suggest you turn to at least two trusted forum members you have dealt with as did I with a post to my listings: "Forum members Taxmad and Blitzdude both have my phone number. Message either for it if you wish to confirm I am still in full control of my BST listings."
No Way Out: Stimulus and Money Printing Are the Only Path Left
Thats what some have been saying for years and years.
And the higher PMs go the more risk there will be.....especially if there is a blowoff top and big discounts. Everyone rushing to the door but no one trusting to trade.
Fake money for good money? Makes no sense. Use your brains folk.
Knowledge is the enemy of fear
Typical you, change the topic with some BS. Buzz off
No Way Out: Stimulus and Money Printing Are the Only Path Left
You buzz off. I changed nothing. We've all warned of the risks of PM trading for decades. So no BS. Now some of us are finally realizing the risks in trading in relatively illiquid markets. And that sucks. The topic is folk getting ripped off....and im telling you it's only going to get worse as prices go higher. The more something is worth and the more interest and demand it garners, the more scams, deception, mistrust and nefarious folk will try to exploit.
And it sucks for you as you are a trader of PMs and these episodes make your dealings more difficult. Dont take that out on me.
Knowledge is the enemy of fear
Not this again.
There is NO counter-party risk when holding precious metals in your possession.
It makes my buyers more cautious, as they should be.
Look, the thread is about forum members being scammed while on the forum. It has nothing to do with counterparty risk. It has everything to do with forum trading risk. We all know there is a risk anytime you deal with a stranger through a medium other than face to face. That applies to every trade, even PMs. It has everything to do with forum trading risk. If you can't contribute on to how to protect oneself while using the forum then buzz off. Your "the sky is falling - counterparty risk" cry is just another of your efforts to derail a meaningful discussion. You have failed in your PM/counter party risk claim in other threads, don't bring it here.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I’ve bought and sold used camera gear into the $1000’s so this is nothing new to me. One just has to be extra cautious and, if you’re not 100% sure, use regular PP or some other form of payment that protects you. Paying a little extra for insurance is better than losing it all.
they are hijacking high post count accounts
this is quite inappropriate in an alert thread
there is no need to rehash topics from the past and other ruined threads
LOL. Y'all were alerted to this type of risk yet choose to ignore or chastise or belittle.
I feel for those who have been scammed, but will also reiterate this will become more prevalent as prices increase.
Those who have been scammed probably feel otherwise.
Knowledge is the enemy of fear
Counterparty risk is the potential for financial loss if the other party involved in a financial transaction fails to fulfill their contractual obligation. Physical PMs lack counterparty risk because they are normally traded face to face AND most importantly because they exist beyond the control of money puppeteers. Anonymous TRADING, of any kind, carries an inherent counterparty risk. Those who were scammed here trading PMs suffered because they agreed to a trading METHOD that could not be tracked, traced or reversed, not because they were trading PMs.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Argue all you want, but those who got scammed had their strings pulled.
Im sad for those who got scammed, but am glad this risk is getting more attention.
Knowledge is the enemy of fear
and you fail to realize that the risk you speak of is a trading issue not a PM issue. The risk of TRADING with total strangers on the forum is not a new issue. If this were a used car forum it would still be a TRADING issue, not a used car issue.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Call a coin shop.
A shameless plug.
``https://ebay.us/m/KxolR5
When buying precious metals, if you receive the items in good order before paying, there is NO counter-party risk.
When selling precious metals, if you receive good funds before releasing the items, there is NO counter-party risk.
There is no counter-party risk while just holding on to precious metals.
When buying/selling/holding stocks, bonds, and the like, there is inherent counter-party risk that the other parties involved (CEOs, brokers, etc) perform on their obligations.
The RedneckHB motive here seems to be an attempt to steer people into his world of traditional financial services and securities (because he makes money that way). But the purpose of owning/holding precious metals is to bypass and opt-out of that world to some extent.
Any time and any place where there is money, there is also likely to be an attempted scam.
While relatively small scams involving precious metals and rare coins are big news here on this forum,
the really BIG scams are out there in RedneckHB's world:
Bernie Madoff
FTX
Theranos
Enron
WorldCom
Waste Management
Ivan Boesky
HealthSouth
Wirecard
Just to name a few.
a ceo could certainly hug it out
back
to
hacks
i'm beginning t o thing the forum "stuff" is what has the flaws instead of weak passwords