I was going through some recent history and transactions in a platform and then it crossed my mind that some complaints were being made about unreflected payment and transaction id were being sent to show proof and then these person's later got credited.
But I ask, is it possible to fake a transaction ID and still be undetected?
Can a fake txn ID be detected in any way effectively?
It’s possible to fake TXID but there’s no way a fake TXID can go to the blockchain because every transaction that confirmed in the blockchain can’t be cancelled or refunded. There’s a risk of double spend using RBF but you will notice it immediately since everything is recorded on the blockchain.
The only time you can become a victim on this kind of scheme is when you didn’t verify transactions on blockchain because the transaction should be available in the blockchain if there’s already a TXID unless you are using a custodial service.