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Reddit Avarar holders are being targeted with testnet scam, watch out!

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by COINS NEWS 128 Views

OK, some people here may dislike that Reddit even launched their Avatars - I get it, I really do! I've bought some because they are fun, I like the artwork, and I like using parts of then to dress up my avatar, not because I see them as some big investment opportunity.

The launch of Reddit Avatars have exposed a whole bunch of new people to crypto, some of these are actually worth reasonable money!

However - as is the usual pattern, where there's money to be made, there's scammers.

So let me tell you how this scam works so hopefully you can avoid it, because I keep on seeing people getting stung by scam trades, and no doubt plenty more that keep silent.

It goes like this:

  • Scammer PM's you, offering to buy your Avatar. They target people that don't understand blockchain tech specifically.

  • They will likely offer you a-little above floor price on OpenSea, nothing too crazy, but a bit more - so looks like a nice easy sale (they will probably tell you the mint number has some special meaning to them, or something else that means they must have it, or that they don't do/understand OpenSea, or want to avoid fees blahblahblah).

  • They will offer ETH, and because they trust you and are operating in good faith, they will send the ETH first.

  • THIS IS WHERE IT GOES WRONG, they will send you testnet ETH on Goerli network, with some quite legit (but wrong) sounding explanation about it. They will use words you don't understand, they will say, 'Oh, it's like wrapped ETH on other networks like Polygon (WETH)'.

  • They will be helpful, and guide you through how to see your deposited balance, show you the transaction to prove they paid etc, and might even explain how to switch to Goerli network in your wallet, how helpful!

  • Buyer thinks 'OK, well ETH is ETH, so all is good, I got paid, I'll send them the Avatar they just purchased.'

So here's the thing to understand:

  • Goerli is a test blockchain network.

  • The ETH is issued free for developers to play around with and test things.

  • The ETH you received is basically worthless, by its very nature its a test token (wrongly I think it is being traded, but last check it was worth a tiny, tiny fraction of 'real' ETH) - it will NOT mature in value; again its a freely distributed test token.

Regardless of what you think of Avatars, we all hate scammers; right?

Please help your fellow crypto bros not fall into this scam trap; NOBODY deserves to get scammed.

submitted by /u/HokkaidoNights
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