ETHSecurity Community

She was contacted by “LaGrand Group”, a bullshit company claiming to be out of Switzerland promising her fat returns as long as she follows their lead.

Once confirming with them, a woman who came off super professional and kind would contact her weekly for about 3 months, walking her through the fattening process.

The scam was simple: Have her open up an account on a centralized exchange, deposit cash, transfer out to a self custodial wallet for the process to start

The process: login to their legit looking trading dashboard, sign approvals, and get sent fake ERC20’s that are designed to fake inflate the balance on your wallet. This woman thought she was making 10’s of thousands of dollars, so why would she stop?

Fast forward months later, she requested a withdrawal. It was time to cash out. Here’s the kicker: to withdraw, they told her she needed to deposit thousands of dollars in order to do so. This is when the alarm bells went off.

This scam was elaborate and was perfectly designed to fool non-crypto users to their demise. 

All it takes is this. Hook, line, and sinker.