Here is how how P2P crypto traders lose millions to flash funds scam, a cyber criminal will download a crypto exchange app, most of them use Binance, Inflowbit, Kucoin, Kraken or Bitget and more.

After they downloaded this app they will buy verified crypto exchange account and they will login with the info and open trade to buy crypto in the P2P section, any victim that comes forward to sell to them, they will flash their account with the exact amount generated on the P2P platform for the order, the victim will confirm payment and release the digital asset to the scammer.

How P2P Crypto Traders Lose Millions To Flash Funds Scam

The MT103 Flash Payment will fail after the designated time of hibernation, this will trigger bank’s security system to flag the customer’s account as fraud, the bank will then go ahead to make decision which will lead to the victim losing their digital asset sold and their account closed for fraud;

Have it on mind there are two types of Flash Funds and the following are the breakdown.

Two (2) Types Of Flash Funds

There are two types of fraudulent payments and they vary just like there are different types of swift messaging ranging from 103 to 202 types and more, it depends on what is being targeted or scammer’s needs,

How Many Types Of Flash Funds Exist?

Only two types of flash funds exist, Fake Bank Alert that is commonly done by text and phone number and Flash Payment that us done with MT103 Swift Payment System Flash Enabled.

What’s The Difference Between Flash Funds And Fake Bank Alert?

The difference between Fake Bank Alert and Flash Funds is clear, it is not something anyone can be confused of, learn more on the difference between flash funds and fake bank alert here.

MT103 Swift Payment System Flash Enabled

This means, it is not mere fake bank alert because for any scammer to do flash funds transaction they will need just the receiver’s basic bank details that is required for normal bank transfers (to receive payment).

Kindly take note, they don’t need any of the following details!

• Receiver’s phone number
• Receiver’s email address
• Knowledge of receiver’s current balance

MT103 Swift Payment System With Flash Enabled will handle the rest, just receiver’s bank account details for receiving of payment is required, the cyber criminal will send exact amount agreed on wether is physical goods purchase or digital asset such as cryptocurrency, the payment will reflect on receiver’s bank account available balance and it will be updated to new balance,

There will be no suspicion until business or transaction with the party is closed and they moved on, the victim will face bank problems for fraudulent activity accusation.

The payment will be flagged and deemed suspicious and inauthentic transaction, some banks may tag it “Failed” then go on to add the customer on watch list,

If you are an active P2P trader reading this article you must have experienced this before, in some cases receiving fraudulent money, you must have encountered this problem whereby your bank blocked your account for fraudulent activity or the payment you confirmed is nowhere to be found after you have released digital asset to the buyer and even if you report them to the exchange they can’t be traced because they withdraw the assets immediately after you released them and they will abandon that account, buy another one and start again.

How MT103 Swift Flash Works

Mt103 flash works by establishing hybernated prepayment in an encryption flow between receiver’s banking system and the MT swift (MFFS often use the JOIPsc or SVVER/PYTT protocols). All outflows from the system locks in a command for payment authenticity checking initiation to commence after a designated time frame.

Does MT103 Swift Flash Require VPN?

No VPN is required from the user of the software, all activities on the software are encrypted. The system automatically provides different IP every minute and points to different locations in the world that even if cracked you can’t be traced, this is to conceal in event of any attack to protect users.

How To Get MT103 Swift Payment System

Click Here To Get MT103 Swift Payment Software With Flash Funds Enabled.

Any Additional Costs After Purchasing The MT103 Swift Payment Software?

No, there is no additional cost, it’s one payment and full access is granted that will last for 12 months, for further inquiries on “How P2P Crypto Traders Lose Millions To Flash Funds Scam” kindly hit the contact button below and talk to our support.