Scams involving private trading of cryptocurrencies or goods
Recently, there has been an increase in fraud cases involving private (offline) transactions carried out by malicious actors. We reminds all users to remain vigilant, avoid private transactions, and beware of scams.
Below are some frequently observed scam methods:
1. Fake crypto transactions
Scam description: Scammers post fake information on social platforms or group chats, such as “selling USDT at a low price” or “buying crypto at a high price,” to lure users into making private transactions.
Common techniques:
Refusing to make payment or release crypto during the transaction;
Transferring fake crypto to users (such as forging transfer screenshots or airdropping counterfeit crypto);
Requesting additional payments under false pretenses such as “security deposits” or “unfreezing fees”.
2. Virtual goods transactions scams
Scam description: Scammers use low-priced offers for virtual goods (such as fuel cards or prepaid phone cards) as bait, and require users to pay with crypto.
Common techniques:
In the early stages, scammers gain trust through small transactions;
After luring users into making large transactions, scammers refuse to deliver the goods and even directly block the user entirely.
How to Protect Yourself?
Avoid private transactions: Always complete transactions through official platform channels and avoid trading outside platform supervision.
Verify counterparty identity: Be cautious of offers involving “low prices” or “high returns”, and do not trust strangers easily.
Be alert to test transactions: If a counterparty initiates small transactions and then suddenly requests a large transfer, immediately stop the transaction.
Notes:
OKX doesn't support private (offline) transactions conducted outside the platform’s official trading channels. Such transactions aren't protected under OKX’s dispute resolution or risk control mechanisms.
If issues arise from transactions completed outside the platform, OKX may not be able to provide assistance or support. To help protect your assets, please ensure all transactions are conducted through official platform features and processes.
Any request asking you to make private transfers or provide your account credentials may be fraudulent. OKX will never ask you for passwords, verification codes, or other sensitive information under any circumstances. Please don't share your account information with anyone.