Download the BOMB App for Android

  • Ecosystem
    Ecosystem

    Bomb dApp
    Protocol works through a synergistic design of unique tokens and mechanisms that create an automatic, self-reinforcing system to help maintain the peg (10,000 BOMB = 1 Bitcoin).

    Bomb Token
    BOMB is the native token of the BOMB Money ecosystem and will power the BOMB Chain network.
    Bomb Chain
    BOMB Chain, our very own blockchain with numerous features.
    Bomb Mobile Application
    BOMB App combines the simplicity of everyday banking with the high yields only found using the power of Decentralized Finance.
    Decentralized FINANCE
    PegHub Advanced Protocol
    PegHub Is A Decentralized Finance (DeFi) Ecosystem Designed To Provide Great Returns For Investors Of All Crypto Experience Levels.
    Media & News
    The BOMB money team does weekly Twitter Spaces and AMAs to keep our community up to date on everything we have going on.
    COMMUNITY
    • Discord
    • Telegram
    • Twitter
    • YouTube
    • Contact Us
  • About
    • Team
    • Roadmap
    • Detailed Strategy
    • FAQs
    • Careers
    • Contact
  • Blog
  • Investor Relations
  • Ecosystem
    Ecosystem

    Bomb dApp
    Protocol works through a synergistic design of unique tokens and mechanisms that create an automatic, self-reinforcing system to help maintain the peg (10,000 BOMB = 1 Bitcoin).

    Bomb Token
    BOMB is the native token of the BOMB Money ecosystem and will power the BOMB Chain network.
    Bomb Chain
    BOMB Chain, our very own blockchain with numerous features.
    Bomb Mobile Application
    BOMB App combines the simplicity of everyday banking with the high yields only found using the power of Decentralized Finance.
    Decentralized FINANCE
    PegHub Advanced Protocol
    PegHub Is A Decentralized Finance (DeFi) Ecosystem Designed To Provide Great Returns For Investors Of All Crypto Experience Levels.
    Media & News
    The BOMB money team does weekly Twitter Spaces and AMAs to keep our community up to date on everything we have going on.
    COMMUNITY
    • Discord
    • Telegram
    • Twitter
    • YouTube
    • Contact Us
  • About
    • Team
    • Roadmap
    • Detailed Strategy
    • FAQs
    • Careers
    • Contact
  • Blog
  • Investor Relations

How the PayPal “Send You Funds First” Scam Works and How To Avoid It

How the PayPal "Send you funds first" scam works and how to avoid it - BOMB Money Blog Post article with PayPal and Bitcoin Image in the background
InsightsStaying Safe In Crypto
Nov 04, 2022 . by Markuu . 0 comments

I had a BOMB Money community member reach out recently and they were wondering how they could get scammed if they received funds via PayPal first.  They shared this conversation they were having with the scammer:

PayPal Scam Attempt DM History - How to avoid this

First of all, at this point it’s safe to say that 100% of anonymous DM’s you receive should be ignored as they are scams.  This is the best way to keep your funds safe and avoid getting scammed.  Hackers/scammers continue to become more and more clever as their targets learn about more and more scams.

Back to “The PayPal Scam”.  In the message above, the scammer agrees to pay a much higher rate for bitcoin from the victim in order to entice you to actually proceed.  For example, if 0.1 BTC is worth $2,100 the scammer will offer to pay you $2,500 for 0.1 BTC.  The victim, thinking they’re outsmarting the scammer, will say “If you send me payment first, I’ll send you Bitcoin.”

At this point, some victims actually proceed with this and send the scammer the Bitcoin once they’ve seen $2,500 USD appear in their PayPal account.   They then send the 0.1 BTC to the scammer, and the deal is done.

…That is until a day or so later they get an email from PayPal indicating that they either received funds from a stolen account OR that the buyer has requested a chargeback.  Even though you have “proof” that the scammer bought Bitcoin and you have the transaction ID that proves you sent it, PayPal will always side with the stolen account and refund their money.  Unfortunately, the victim’s Bitcoin is gone and there’s nobody to complain to and ask for a refund.

Moral of the story:  Don’t trust anyone and ignore your DM’s for anything to do with crypto!

previous post
BOMB Money Becoming a Household Name & BOMB Chain/Mobile App Release Dates Coming Soon
next post
BOMB Chain & Mobile App Launch Date. It’s Time to Introduce BOMB to the World
Related Post
Top 10 Ways to Earn Cryptocurrency
Feb 21, 2023 Insights, Staying Safe In Crypto
The Top 10 Ways to Earn Cryptocurrency In 2023
How to Make Money Being an Early Adopter on BOMB Chain
Feb 03, 2023 BOMB, Cryptocurrency News, Insights
How To Make Money Being an Early Adopter on BOMB Chain 
How to Make Money with Arbitrage on BOMB Chain
Jan 15, 2023 BOMB, Insights
How to Make Money with Arbitrage on BOMB Chain
The Definitive DeFi Tools List - Helping You Succeed in DeFi - Cover Photo
Dec 10, 2022 Insights, Staying Safe In Crypto
The Definitive DeFi Tools List – Helping You Succeed in DeFi
Stop Getting Rugged! How BOMB Money Uses Risk Management To Keep Your Funds Safe
Dec 03, 2022 Insights, Staying Safe In Crypto
Stop Getting Rugged! How BOMB Uses Risk Management To Keep Your Funds Safe
BOMB Money Blog Post - What is LP Bonding?
Nov 30, 2022 BOMB, Insights
What is LP Bonding?
How the PayPal "Send you funds first" scam works and how to avoid it - BOMB Money Blog Post article with PayPal and Bitcoin Image in the background
Nov 04, 2022 Insights, Staying Safe In Crypto
How the PayPal “Send You Funds First” Scam Works and How To Avoid It
playing the bombchain launch
Oct 25, 2022 Insights
Playing the BOMB Chain Launch – Directly from Founder/CEO Aaron Shames
The Math Behind 100k PHUB
Oct 20, 2022 Insights
The Math Behind a $100,000 PHUB Token
BOMB Money - The Path to Becoming the Largest Crypto Staking Platform in the World
Oct 12, 2022 Insights
BOMB Money – The Path to Becoming the Largest Crypto Staking Platform in the World
BOMB Money - 4 Things to Avoid When Investing in DeFi - Featured Image
Oct 11, 2022 Insights
4 Things to Avoid When Investing in DeFi
Cream Yellow Geometric Meet The Team Instagram Post (857 × 470 px)
Jul 22, 2022 Insights
Meet the CEO Aaron Shames

Leave a Reply Cancel

You must be logged in to post a comment.

Categories
  • Blum (1)
  • BOMB (4)
  • BOMB Shell Monday (27)
  • Cryptocurrency News (2)
  • Insights (12)
  • Staying Safe In Crypto (4)
recent posts
BOMBShell Monday - Introducing Blum Finance
Introducing Blüm Finance – The Future of Crypto Staking
March 20, 2023
BOMB ShellMonday - Taking our app to the next level!
Taking Our App to the Next Level
March 13, 2023
BOMB Shell Monday - A New BOMB Money Experience
A New BOMB Money Experience
March 6, 2023
Tags
#Blockchain#BOMBshell#bsc#crypto#Cryptocurrency#defi#PegHub#PHUB#risk management#safety#Tips

Stay informed with
BOMB MONEY updates!

    company

    • About BOMB
    • Careers We’re hiring
    • Team
    • Risk Information
    • Terms of Service

    Resources

    • GitHub
    • Roadmap
    • Investor Relations
    • Documentation

    Community

    • Discord
    • Telegram
    • FAQs
    Twitter Telegram Discord Youtube

    Copyright © 2022 Bomb Money. All Rights Reserved.

    Investing in Digital Assets carries risk and it’s important to remember you are responsible for the safekeeping of your wallet, seed phrase and private keys. Digital Assets are not bank deposits, are not legal tender, are not backed by the government and no government protections apply. BOMB Money does not provide financial, investment, tax, or legal advice. No communication or content provided by us is intended to imply financial advice, nor that any Digital Asset or strategy to generate rewards is low-risk. By using our website and services you agree to our Terms of Service and Privacy Policy. 

    Login
    Register
    Sign in with Google Sign up with Google
    or Sign in with email or Sign up with email

    Lost your password?