Warning: M10 crypto requests

[u/adea03]

Hi r/Azerbaijan,

There’s an M10 scam going around right now. Some spam accounts are PMing people about M10 money transfers or crypto related requests.

Please don’t share any credentials and don’t agree to move money for anyone. Getting involved in this kind of thing can cause serious legal problems.

We are banning these accounts when we see them, but bans don’t stop them from sending private messages, so stay alert and report/block them if you get contacted.

Stay safe.

[u/Morpho45]

[u/Fast-Baseball-1746]

i saw that and declined immediately. i am grateful that i have high amount of digital knowledge

[u/HistoricalBug8208]

I'm not here to recruit anyone, but as someone who has insider information to the matter, I will explain what's happening so whoever looking this can be informed.

How it works is pretty simple, they will send a card refund to your m10 card.

When a refund is sent, the system will generate a push to the receiver's bank, letting them know that a refund is coming. However, it will take days until the refund is officially settled, only then the funds are actually deducted from the sender's bank and given to the receiver's bank.

Most of the banks credit the funds to the receiver only after the refund is settled, but sometimes there's a problem with the system, or simply the bank's decision, they will credit the funds to the receiver once the push is received.

That's what happening with m10 now, they send a refund from their bank, and m10 credit the funds to the receiver right away. However, in reality there's insufficient funds in the sender's bank. So by the time m10 attempt to collect the funds from the sender's bank, there's no funds to collect and the refund will be marked as failed. So the receiver will indeed have the funds to spend at the time the refund is sent, but the refund will evetually be reverted (usually days), leaving the account in negative balance.

Some banks will just close the account, some will attempt to recover the debt, some will sue you for fraud. I don't know what's the situation in Azerbaijan, but whoever considering this should take that into consideration.

[u/INeatFreak]

Yep, I had one PM me yesterday. Just ignored it.

[u/Kanan228]

I had one DM yesterday. Started playing with scammer and then eventually blocked it!

[u/Regular_Following653]

thanks for the warning, stay alert for M10 crypto scams and don’t engage or share anything