Loader or load-up scams

Cryptocurrency transactions are irreversible. If you send cryptocurrency to a third party, you cannot reverse it or stop payment. When you send cryptocurrency to a blockchain address, you must be certain of the legitimacy of any involved third-party services and merchants, and only send cryptocurrency to entities you trust. 

Pro tip: If it sounds too good to be true, it probably is.

Loader or load-up scams 

Fraudsters frequently offer “loading” services on a variety of platforms. They claim to need Coinbase accounts with high limits, offering the victim a portion of the proceeds. These scammers use stolen credit cards on compromised accounts to perpetuate payment fraud. The end result is the victim is left with payment delinquencies after the legitimate card holder discovers the fraud, the scammer often steals any available cryptocurrencies and submits unauthorized charges on verified payment methods. Be aware, you are responsible for any payments submitted using your authentication credentials. 

  • Never provide your passwords or security codes to third parties under any circumstances. 

  • Report any “loaders” to Coinbase and to the platform where they are advertising their credit card fraud.