A man in Almelo has fallen victim to a sophisticated crypto fraud scheme while trying to sell an expensive watch. The seller was attempting to sell his Rolex on the online marketplace Marktplaats when he was contacted by a buyer calling himself “Richy.” During their meeting, the payment in cryptocurrency appeared to go through successfully, but it turned out to be made with worthless tokens. The total damage amounted to approximately €11,000.
Payment Appeared Real, But Consisted of Worthless Tokens #
The seller and buyer met at the Theaterhotel Almelo to finalize the deal. There, the buyer showed that he had transferred the agreed amount in crypto. A transaction indeed appeared in the seller’s wallet app on his phone, making the transfer seem legitimate.
Shortly after the meeting, the seller discovered he had been scammed. The so-called payment was made with worthless tokens that do not represent any official cryptocurrency. This method, known as ’token-spoofing,’ uses tokens that show up in a wallet but have no value and do not represent a real transfer on the blockchain. The seller was left without his Rolex Oyster Perpetual, suffering a loss of about €11,000.
The police have stated that the case is under investigation and are warning against this type of fraud. Crypto payments are nearly irreversible, meaning a mistake or deception is not easily rectified. Especially in private sales, such as those on Marktplaats, transactions or tokens can look convincing in an app without any actual value being transferred.
Caution Remains Essential When Using Crypto as a Payment Method #
The case in Almelo highlights the additional risks that come with using crypto as a payment method for private sales. Experts advise always verifying payments through public blockchain explorers and only trusting verifiable transactions. Handing over valuable goods before full confirmation carries significant risks.
Although the suspect was caught on camera, he has vanished. The buyer’s identity remains unknown, and no arrests have been made.
Crypto-related crimes are becoming increasingly prominent: last week, a man in San Francisco was robbed of $11 million in crypto. The victim was found to have a connection to the CEO of ChatGPT.