Post
Topic
Board Service Discussion
Merits 2 from 2 users
Re: Best practices for Bitcointalk escrow providers
by
LoyceV
on 29/10/2021, 14:12:33 UTC
⭐ Merited by dkbit98 (1) ,GazetaBitcoin (1)
Shouldn't it be the escrow's responsibility to make absolutely sure the trade can't go wrong in any possible way?
I would say yes, and what is even more surprising is the fact that escrow had very chill attitude about all situation, he pretty much ignored his client, replied to him only once, and it took long time for him to post that timeline from his PMs.
I was surprised by that too. I know his reputation precedes him, but this is far less thorough than I expected.

Quote
Exactly. What's the point of using an escrow with those terms?
No point, except to give you some false sense of security.
Even worse: this false sense of security made the victim let his guard down:
~ I suspected this may be scam. But I like monero physical coins and I wanna buy it. I thought that I can use escrow service , my money will be safe even if I don't receive the physical coins. So I contact MJ for escrow.

I think that escrow should always check BPIP website for possible changes in accounts like password resets, and cancel/pause any trade if they notice anything suspicious.
That would not have helped in this case: the scammer changed the password only minutes after minerjones sent him the funds:
Aug 29 2021 014725PM: minerjones releases funds.
By not changng the password instantly, the scammer could stay under the radar for as long as he needed.

Cluster F**K
This sums it up nicely.

There was a term change which was meeting in person and that information came from the same account.
How would you care more when the same person (here same account) is telling you to make a change in the deal?
I'd say: "Rule One: Never change the deal." applies (quote taken from The Transporter movie). If anything changes, a good default would be to delay the release of escrowed funds quite a bit.