Coin4traders.com (SCAM)

A type of crypto scam I have not seen before.

I work in the crypto space as a moderator and support agent with a passion for educating the masses about crypto.
Scams come and go but I recently stumbled upon a new one.

So the purpose of this post is simply to give those who google for Coin4traders.com to get some information about my experience.

It all starts with a message on Telegram, the guy is saying that he needs help to withdraw his coin from this exchange showing his balances

As the exchange does not let him to do that he asks for help from someone located in a country where the exchange is said to allow withdraws

After chatting a bit with the exchange support on the site to ensure that what he is trying to do is even possible I decide to see where it this one ends up^^

The guy sends me 0.5 BTC ( note, this is most certainly fake BTC)

I receive the address he would like his coins sent to and initiate the withdraw.

Now the heart of the scam finally came to show itself.
For an account to be able to withdraw it first has to deposit 0.011 BTC onto the exchange.

Explaining this together with my suspicion of what is actually going on the guy turns into aggressive mode and begins with threats and all that.

So now I have 0.5 fake BTC on coin4traders.com waiting for me to deposit 0.011 BTC.

I can imagine that good-hearted people with little to non-experience with how scammers operate would at this point send in their own funds to the exchange and complete the scammer's hopes.

Normally I do not let scammers do their “thing” with me, but I was bored. And I did learn something.

Playing on your feelings of holding the coins that he trusted you to hold for him can probably put people in effect to the point that they forget to stop and think about what is actually going on

Summary:
Scammers are now creating reasonably professional-looking exchanges, trying to convince you that you need to deposit funds

Be Careful out there!