These forums have been archived and are now read-only.

The new forums are live and can be found at https://forums.eveonline.com/

Market Discussions

 
  • Topic is locked indefinitely.
 

Margin Trading Scam - A Guide
Author
Previous Topic Next Topic
BearJews
Order of Extrodinary Gentlemen
#101 - 2012-03-11 17:56:11 UTC
Question: Lets say i see a buy order for...the best named ECM module, like WHite noise.


Lets say the average price in the region is 1mil isk pu. I see a buy order for 300 (min) White noice ecm modules for 5 mil. I fulfill this order. THe modules are no longer in my hanger, i paid the borkerage fee, but never receive the isk for the fulfilled order. Is that part of this "scam" or is it something else?
Aebe Amraen
Dreddit
Test Alliance Please Ignore
#102 - 2012-03-11 18:18:12 UTC
If you're paying a brokerage fee when fulfilling a buy order, you're doing it wrong

The modules will probably reappear after downtime.

Finally, in the future, if you see an order for 5x the standard price with a minimum of 300... don't try to fill that order. The probability that it's a scam is 99.44%.
BearJews
Order of Extrodinary Gentlemen
#103 - 2012-03-11 19:20:14 UTC
And if those modules do not reappear?
Strategos
Echelon Research
Goonswarm Federation
#104 - 2012-03-12 01:16:13 UTC
BearJews wrote:
And if those modules do not reappear?



Check your sell orders.
Lady Spink
Pator Tech School
Minmatar Republic
#105 - 2012-03-12 23:13:01 UTC
Aebe Amraen wrote:
Finally, in the future, if you see an order for 5x the standard price with a minimum of 300... don't try to fill that order. The probability that it's a scam is 99.44%.


nono, make sure to buy the same items for a lower price and try to sell them to that order! (insta profit)!
Stephen Fleck
Deep Core Mining Inc.
Caldari State
#106 - 2012-03-13 08:23:16 UTC
I ran into this scam a few days ago while station trading in Jita.I normally make it a point not to leave the station but the profit margin was just to good for only 3 or 4 jumps.Had it been just in 1 station i would have smelled bullsh#t, but they had it(research tools) spread through 3 separate stations.Im sure you veteran traders are laughing at me for not smelling bullsh#t anyways and im cool with that i deserve it.When all was said and done i was only at a 68mil loss and had i gone with my initial plan it have been much worse.I think if your quick enough and there are still overpriced sale orders of said item in jita you can possibly make a portion of your loss back.That being said i cant help but give a pat on the back of the rascal who burned me.
Fyor
Aggregate.
#107 - 2012-04-03 07:35:34 UTC
Boris Ginnungagap wrote:
Scammers are worthless scum, just like pirates.


Interesting quote...

The only way this scam works, is because some greedy BUYER wants to speculate, but doesn't do their homework.

You're really missing the point of the OP: Inform the world, so they don't fall for it...

fwiw.
Andy DelGardo
#108 - 2012-04-03 09:12:25 UTC  |  Edited by: Andy DelGardo
Could this be "fixed" if u would allow to let the seller go into negative wallet once, with the limitation that u cant delete a character with a negative wallet from your account? This would limit this scam, since it would net be feasible anymore, while still keeping the Margin Trading advantages of the skill.


Quote:
The only way this scam works, is because some greedy BUYER wants to speculate, but doesn't do their homework.


The only way this actually works is because u can delete a character and recreate at free will. In real life this scam works similar, but the damage done to a persistent person is more drastic. Ofc in the case of a corporation this works surprisingly similar, since we thread them as legal person and we can also recreate them under a new name..
Nura Taron
Doomheim
#109 - 2012-04-08 20:35:46 UTC
Sounds like more of an exploit than a scam. Why isn't this bannable?
Ben Bernank
The Goldman Sachs
#110 - 2012-04-08 21:34:11 UTC
Andy DelGardo wrote:
Could this be "fixed" if u would allow to let the seller go into negative wallet once, with the limitation that u cant delete a character with a negative wallet from your account? This would limit this scam, since it would net be feasible anymore, while still keeping the Margin Trading advantages of the skill.


This is the best solution. I seriously hope they allow negative account balances. I'll make a few accounts, and burn them all a trillion isk a piece in the red to my main. Then I can BUY ALL THE TRITANIUM.
Balcony Jumper
Caldari Provisions
Caldari State
#111 - 2012-04-09 15:58:33 UTC
If you've been the victim of a margin trade scam and want revenge... here's some stuff you can do to attempt it.

https://forums.eveonline.com/default.aspx?g=posts&t=91204&find=unread
Aronova Arji
Caldari Provisions
Caldari State
#112 - 2012-04-13 00:10:39 UTC
So the scammer gets their escrow refunded when the order is cancelled due to lack of funds? That's certainly not how escrow is supposed to work. The whole purpose of escrow is to ensure funds are available for payment so at the very least the escrowed funds should be forfeited when the order fails. Why the hell would a bond agent return escrowed funds to someone who set up a fake transaction with them? They wouldn't, they'd just keep the money.

Escrow should be returned when an order is cancelled or expired but if it fails due to lack of funds it should be forfeit.

It should go:
1. Buyer puts up buy order and pays escrow
2. Seller attempts to fill buy order
3. Buyer has inadequate money, order is cancelled and escrow is forfeit
4. Escrow Agent pays escrow funds to Seller for whatever portion of the order they could buy at specified price.
5. Items now owned by Escrow Agent are removed from game.

TL;DR Escrow should be forfeited when an order fails due to lack of funds