This message hit Tunde’s WhatsApp like a stray bolt of lightning.
“Bro, urgent opportunity! I’m visiting from Monaco—no local bank. Need to convert 10,000 ETH to cash TODAY. Use your account: I send ETH, you withdraw cash, and keep 4% ($1.2m). Face-to-face only. Meet at Sterling Bank in 2 hrs? Safety first!”
Tunde stared at the screen. 10,000 ETH. That was… life-changing money. The commission alone (4%) was more than he made in two years. The sender, “Rex,” claimed he was just passing through Lagos on vacation, had no local bank, and needed to move this massive sum before his flight tomorrow. It sounded plausible enough. Tourists did weird things with crypto. The promise of a face-to-face meeting at a reputable bank added a veneer of security.
But something nagged at him. The urgency was suffocating (today only). The sheer size of the transaction felt unreal for a casual tourist. Why him, found on a public forum? And that phrase… “Safety first.” It rang hollow, like a rehearsed line. The commission was too generous for simply moving money through a verified account. It felt less like a fee and more like bait.
Yet, the number danced in his head: 4% of 10,000 ETH. His sensible side whispered caution (could be a crypto scam), a low hum of unease. His ambition roared louder. Maybe it was just a wealthy, desperate traveler. Maybe this was his break. The bank lobby felt like neutral ground, safe. He typed a reply, his finger hovering over the send button for a second longer than necessary. The dice was rolling.
Act 1: The trap sprouts thorns
At the bank’s café, Rex arrived sweating in a cheap suit. He showed Tunde a fake Monegasque passport and a blockchain transaction ID:
TxID: 7a3f…d9c1
10,000 ETH sent → Tunde ’s_wallet_address
“See? Funds are yours! Now withdraw the cash equivalent ($29.4m after your cut). Hurry—my flight leaves in 5 hours!”
But Tunde noticed two red flags:
- The sending wallet (0xRexMonaco) had zero history before this transaction.
- Minutes before sending to Tunde, it received 10,000 ETH from 0xVictimWallet.
A quick blockchain explorer search showed:
- 0xVictimWallet was hacked 47 mins ago—flagged on Crypto Scam Watch.
Tunde realized: He was being set up as a money mule. If authorities traced the stolen ETH, it would lead to his wallet. Rex would vanish with cash, leaving Tunde holding $30m in dirty crypto.
Act 2: Tunde’s counter-scam
Tunde feigned panic:
“The bank’s freezing large withdrawals! They need a $20,000 ‘processing fee’ in cash to release $29.4m. It’s a compliance thing!”
Rex balked:
“I don’t have cash! I only have crypto!”
Tunde pressed:
“Send me 0.65 ETH ($2,000)—I’ll sell it instantly for the fee!”
Rex’s greed overruled logic:
“Losing $2k to gain $29.4m? Worth it!”
He sent 0.65 ETH from another wallet (0xRexiReal). Tunde now had proof that Rex controlled multiple wallets, including the stolen funds.
Act 3: The perfect revenge
As Rex paced, Tunde “went to handle the fee.” Instead, he:
- Transferred the 10,000 stolen ETH to Binance (via their AML-compliant recovery portal).
- Reported the crypto scam with Rex’s wallet IDs and their chat logs.
- Withdrew Rex’s 0.65 ETH as cash ($2,000).
He returned empty-handed.
The bank needs 24 hours to process. Meet tomorrow?”
Rex exploded:
“I’ll be in Monaco! Just give me the cash now!”
Tunde shrugged.
“Without the fee? Impossible.”
The twist
As Rex stormed off, Tunde triggered his revenge:
He anonymously tipped off Chainalysis and Interpol Cybercrime with:
- Rex’s face (from bank CCTV)
- His 0xRexReal wallet (funded by past crypto scams)
- The poisoned NFT’s code
Rex’s $2,000? Tunde donated it to the hacked victim’s recovery fund.
Epilogue: Two months later
- Rex was arrested in Monaco after cashing out $180k from 0xRexReal—flagged the moment he moved it (failed crypto scam).
- Tunde kept his 4% ($1.2m) as a white-hat bounty from Binance for recovering the stolen ETH.
- The Victim reclaimed 92% of their ETH thanks to Tunde’s tip.
Key takeaways from the crypto scam plot
- Verify Transaction Histories: Check sender wallets for red flags (new creation, stolen funds).
- Never Be a Money Mule: Laundering = prison time. Legit deals don’t need “urgent” strangers.
- Scammers Fear On-Chain Evidence: Screenshot everything—wallets, chats, faces.
Protect Yourself:
- If you didn’t initiate the trade, it’s likely a trap.
- Walk away from “too urgent” deals.
- Reward > 5%? It’s probably stolen.
Rex learned the hard way: In crypto, the best cons target the greedy. He met someone greedier and smarter.
Just so we’re clear: None of this happened. These folks and places sprang from imagination. Enjoy the ride, and maybe pick up a tip or two for spotting red flags along the way.
Until next time, Degenerals!
