A guy on Instagram wants to be my sugar daddy and send me money through bitcoin. We've only been talking for about a week and he hasn't asked for any of my info. He just asked to sign up for a blockchain wallet. He said I can use the CashApp app and cash out my bitcoin? Is it a scam?
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Bitcoin isn't reversible, so it's not possible to pull the usual overpayment scam (they send you money in a reversible manner, ask you to pay it back in an irreversible manner and then reverse the original transfer).
Possible options:
- They hope to be able to exploit your lack of technical experience with the bitcoin technology to trick you into making a mistake which costs you lots of money and gets them to receive that money.
- It's a bait-and-switch. They hope to frustrate you with the bitcoin technology until you agree to accept a wire transfer instead, and then they pull the overpayment scam.
- They want to use you to launder illegally obtained bitcoins in order to make it harder for law enforcement to follow the money. They might ask you to forward bitcoins to other wallets or to sell the bitcoins and then send them money or goods.
Philipp
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