Be Aware of Common Scams: Fake Bank Transfers and Fake Check Scams

Dear HTX Users,

We would like to bring your attention to two new types of fraudulent activities that have emerged in HTX P2P. Please read on to learn more about these scams and how to avoid asset losses.


1. Fake bank transfers:

Scammers use fake bank apps (such as ICBC or ABC) to create fake electronic transfer receipts and videos to convince the seller that payment has been made. The seller may release coins to the scammer without verifying if the payment has been received due to the convincing fake transfer receipts.

Tips to identify this type of scam:

1) After the buyer completes the payment and provides the payment receipt, do not release coins to the buyer immediately even if the other party urges you to do so.
2) Before releasing coins, log in to your own bank account to verify if the payment has been received and if the payment details match the receipt, including the order amount and buyer's name. Only release coins to the buyer after confirming that everything is correct.


2. Fake check scams (often seen in Hong Kong and Malaysia)

The scammer sends a check to the seller in a fake check scam. It usually takes one business day for banks to process the check and have the amount reflected in the seller's account balance. The scammer then urges the seller to release coins before the check has fully cleared. If the seller falls for the scam and releases the coins before the check clears, the scammer will revoke the check for reasons such as insufficient funds or an invalid account. This leaves the seller with a bounced check and lost assets.

Note: This type of scam has become increasingly common in cross-border transactions. "Account balance" refers to the actual amount of funds in the account.

Tips to identify this type of scam:

1) Do not be swayed by any urgent requests to release coins to the buyer. Make sure to verify the transaction information before completing the transaction
2) Before releasing coins to the buyer, log in to your account and check if the funds have been deposited and are available for use. Ensure that the payment name matches the platform's information and that the funds are not frozen. Once you have confirmed everything is correct, proceed to release the coins to the buyer.

If you encounter any suspicious or fraudulent activities, please submit an appeal request immediately. The customer service team will intervene to prevent you from falling victim to scams.


March 2, 2023


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HTX reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and HTX makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on HTX. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.