[bisq-network/proposals] Increase buy limit for new accounts from 0.01 to 0.05 BTC (#95)
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Wed May 22 15:41:48 UTC 2019
> It would be good to have more public data on this. As much as it is safe to disclose.
The scammer used about 14 different German (90%) and Dutch accounts but could cash out only with 3 accounts (others got blocked before BTC got released). 21 cases with EUR received and BTC already paid out. 16 cases where he could not get the BTC out (disputed). Total damage what we got reported was about 11 000 EUR.
Chargebacks was requested in 12 cases and in 7 cases accepted by seller. In 18 cases the EUR was sent back (either due chargeback or volunatarily). Banks handle chargeback very differently: Some ask, some do it without asking, some block sellers account if seller has transferred the funds already to another account. Often bank have blocked scammers stolen account so EUR sent back bounced back.
Beside the SEPA stolen bank account scammer there was 1 or 2 Interac (CAD) chargebacks. Not clear if it was releated but happened in same time period, so likely a group might have been active.
Names a those cases sounded eastern European / Russian.
There have been also other suspicious cases where no chargeback happened but user used similar communication behaviour (broken english, aggressive unfriendly style, lose patience quickly and accused arbitrators as scammers, not providing any evidence to arbitrators,...). They used also different accounts (several different German often female account owners with same onion address). It might be that those are money launderer cases and not stolen accounts, which would explain why no chargebacks happened. Some of those cases are still open in disputes. At least at one case the sender bank account was blocked when seller was instructed to send back the EUR. Arbitrators instructed sellers to send back the EUR in those cases. Some of those cases used Transferwise. It seems that one can fund Transferwise by Credit Card which adds a lot of risk. Transferwise transfer cannot be verified by name and IBAN as Transferwise use it's own name/IBAN. I think Bisq should not allow Transferwise anymore as specially with te CC funding option it might become a preferred way for CC scammers. Not sure how Transferwise would handle those cases, likely they will swollow the damage in case of CC fraud but it might fall back to Bisq if it would be used more frequently and the receiver might get blacklisted by banks even if no chargeback happens. It also seems that one can get a SEPA account at Transferwise now, which would make it hard to detect that it is Transferwise (probably by the BIC it can be detected). Have not investigated further but I think it should be.
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