Post
Topic
Board India
Re: Got scammed by localbitcoins trader Prateeketc
by
pawanjain
on 09/09/2021, 14:02:49 UTC
Myself shahid from mumbai. I had an old stash of btc with me which i wanted to cash out. I choose to deal from localbitcoins. Since i did not have a verfied account there, i decided to contact a trader and execute a deal outside of localbitcoins.

I first contacted "Abidhussainf" but our times did not match so i went ahead and contacted another trader who goes by the id "Prateeketc". I contacted him on his whatsapp number  8217331774. He replied quickly and we dealt without escrow for Rs. 20000. Since the deal was successful, i decided to proceed with another deal of 50000 INR to which i sent him around 0.015 btc. He assured me that he will send me the funds in 10 minutes after which he went offline from whatsapp and even blocked me on calls now.

I got in touch with the local police station today who refereed me to cyber crime bran to register a case of fraud. They have asked me to submit his details asap. If anybody here has any details about this person kindly let me know.

Also it would be great if you guys please suggest me what other option i have to recover my amount

The first mistake you did was contacting a trader from Localbitcoins outside the official platform. You could have continued the trade on the official platform and they might have helped you in case of a fraud.

The second mistake you did was not to use an escrow. An escrow is a must in a P2P trade if your amount is big. Not using escrows gives an advantage to the scammer.

The third mistake you did was to send your bitcoins upfront. Whenever you do a P2P trade. Do not send your bitcoins first.

The first step to do is contact the local police and cyber crime department which you have already did.

The second step to do is raise awareness among other so that they don't fall for the same scammer again.

There's pretty much nothing more you can do about it. Just accept the losses and move on. You can also give it a last try by contacting the scammer from other number and threaten him that you have raised a complaint against him in cyber crime cell and ask him to transfer the btc back to you.