The thread is locked and that doesn't bode well, I agree, but he is offering collateral. Isn't collateral a guarantee that he won't scam you? If he doesn't pay back the loan, you liquidate the collateral. Isn't that right?
He doesn't have any collateral, he never did. I noticed that thread shortly after it was posted, it was locked from the start. But it comes with a really tiny violine and sob story; the poor guy got scammed for his collateral:
