Are you considering buying an expensive item with Bitcoin directly? Most large purchase scams involve buying cars, boats, or other high-ticket items from places like eBay Motors, Amazon, Craigslist, Offerup, and other major e-commerce sites with crypto as the payment method. Large retailers don’t normally accept cryptocurrency and if they do, it will rarely be through a direct Bitcoin transfer conducted over email. If you find yourself in this scenario, be very wary as this is likely a scam. The tell tale signs typically include:

• A purchase price much lower than typical market value. Remember, if the price is too good to be true, it probably is. 
• Communication outside of the official platform. The Scammer will always try to take communications outside the official website with emails that may be spoofed or designed to look like you are communicating with the real business. 
• A similar but different domain name attached to the sender’s email address. Always look carefully at the email address and ensure that the email is associated with the official website domain. Research the legitimate website and verify the email address you are corresponding with.
• The buying and selling of the product is done outside of the legitimate retail website. Stop and ask yourself why would someone forgo using the website designed specifically to buy and sell the same items safely? Find the official website and contact their support team to ask if they sent the message and/or accept digital currency.

Note: If you can’t reach the support team on their website or if you are ever in doubt, reach out to our support team directly at support@kraken.com. It never hurts to ask, but it always hurts to lose your hard earned money. 

In addition to the above e-commerce scams, people may also try to get deposits for apartments, AirBnBs, or in demand items like gift cards, concert tickets and electronics. 

If you need to report an incident or you have fallen victim to this type of scam, reach out to our Live Chat support or submit a request at support@kraken.com.

Additional resources for reporting and learning about fraud:

• https://www.ssa.gov/scam/
• https://www.aarp.org/money/scams-fraud/info-2020/cryptocurrency-investments.html
• https://www.ftc.gov/imposter
• https://ic3.gov/
• https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency
• https://www.fbi.gov/news/podcasts/inside-the-fbi-holiday-scams-120120
• https://www.antifraudcentre-centreantifraude.ca/report-signalez-eng.htm
• https://www.antifraudcentre-centreantifraude.ca/scams-fraudes/victim-victime-eng.htm
• https://eba.europa.eu/contacts/complaints/frauds-and-scams
• https://www.ebf.eu/ebf-media-centre/cyberscams/