Fiatside

Security

How do I spot a fake conversion service?

Four signals are enough: upfront fees, an impossible rate, artificial urgency, an unverifiable status.

The first signal is a payment requested separately to unblock a withdrawal. On a real service, fees come out of the operation and are never claimed on the side. This technique is the most constant signature of fraud.

The second is a rate clearly better than mid-market. Nobody can buy above the market sustainably. An impossible rate is not a promotion, it is bait.

The third is urgency: an offer expiring in minutes, a threat of losing funds, pressure to act immediately. The fourth is a regulatory status announced with no named authority, no number and no verification link to a public register.

Going further

This article does not cover your case?

Open a ticket with the order number and, if it concerns a deposit, the transaction hash. Those two items are usually enough to settle it with no further exchange.

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