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I recently joined a WhatsApp group that claims to allow people to test out their "Quantitative Trading System." As part of the test, they provide participants with 2000 USDT to use while evaluating the system's performance.

I was told I had to return 2000 USDT (cryptocurrency) before they gave it to me, with an agreement to return 70% of any profits made and keep 30% for myself. I declined the offer and explicitly told them I didn’t want it, and they acknowledged this. Despite my refusal, they sent the 2000 USDT anyway.

I suspect this may be a scam, as the exchange they used seems dodgy and it’s marketed as a home decoration app on the app store. However, if the crypto exchange turns out to be legitimate and withdrawing does indeed give me the funds, am I legally obligated to return the 2000 USDT or the profits? What are my rights in this situation, especially considering I didn't consent to receiving the funds and believe it might be a scam?

Anonymous
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2 Answers2

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First of all, this is obviously a scam, and nothing good will come from engaging with it.

Regarding the legal question at hand: The mere act of someone handing you an object, or transfering money into your bank account or crypto into your wallet doesn't make it legally yours. The usual ways of what else needs to happen to transfer ownership is either a contract where they exchange giving you the stuff for something you do, or an act of them gifting it to you.

You didn't agree to the contract, so that option is out. There is no reason why they would just gift you crypto worth $2000. So if it weren't a scam, the next best explanation is that they made a mistake. In that case, you would indeed have to return it when they ask for it back (depending on local laws you may be entitled to compensation for the inconvenience or not).

Arno
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Case law has established that the elements of theft will be made out if you deliberately fail to return money that you know was sent to you in error.

I posted a more detailed answer to a similar question in the context of a bank error here.

JBentley
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