Sugar Daddy Bitcoin

1

I’m 19, some guy messaged me on instagram asking if I would be interested in an online arrangement with him for a weekly allowance of 600$, so basically a sugar baby, we then switched over to communicating through WhatsApp, and he explained that I would get $200 in 3 days to make it $600 weekly allowance for some cute pictures and also running “errands” for him, I asked what he meant by this and he said just normal pictures and the errands being that when my allowance is being sent extra money would be added for me to help him make a cash deposit at the nearest bitcoin atm. I know NOTHING about bitcoin or how it works and I’m wondering how to be safe and know if this is a scam and how I would know if it is a scam? If I make a cash deposit for him at the nearest bitcoin atm? what does this mean??

kris

Posted 2020-11-03T11:13:38.540

Reputation: 11

Answers

6

It is a scam.

He wants to get you comfortable with a process he can exploit later by sending you larger sums and getting you to pay an accomplice most. Maybe in a week or a month he will say he wants you to help with a property transaction.

In reality the money will be from a crime, maybe some older person's life savings he has tricked them out of. He will trick them into paying into your account so he can't be traced and so that you will be the patsy the cops come after. He will get you to pay his "realtor" (accomplice) using Bitcoin because bitcoin payments can't be reversed, however the payment routed to your account can be reversed days or weeks later, leaving you with huge debt to the bank and a criminal investigation for being an accomplice to fraud or worse.

Alternatively he will be satisfied with just bouncing a few $600 checks and picking up the hundreds of dollars you sent him by bitcoin. That's probably the best outcome you could expect - you end up with a few hundred dollars debt.

Maybe after a few "normal" or "cute" pictures he'll talk you into something more, maybe he'll then blackmail you over anything you send him which he thinks you wouldn't want your family, friends, neighbours, employer and colleagues to see.

The way to be safe is to cut off all communication immediately.

See https://money.stackexchange.com/search?q=sugar+daddy+scam

RedGrittyBrick

Posted 2020-11-03T11:13:38.540

Reputation: 9 949

A general principle that will protect you from a large number of scams is this: Never accept money of any kind from anyone you don't know well and know personally unless you have actually earned it and are fully entitled to keep all of it. – David Schwartz – 2020-11-05T16:13:57.377