Cycle Trader Scam BEWARE!

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Feb 19, 2014 | 01:48 PM

Don Cronaueri

Thread Starter

Cruiser

Joined: Jun 2011

Posts: 133

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From: McKinney TX

Cycle Trader Scam BEWARE!

All, I posted my bike on Cycle trader yesterday in a attempt to get more than the local stealer wanted to give me. That same day I recieved a text from a gentleman who claimed to be working overseas and after some negotiations wanted to purchase my ride via paypal. We again negotiated and he agreed to pay the fees (2.9%) and that was that. Fortunately I used my company email and it blocked his attempt to send me an email and we went back and forth via texts that he had put the funds into my paypal account. I just figured it was taking time for his funds to clear. Later that night I got a similar email requesting purchase of my bike and them wanting to use paypal and included a link in the email for paypal. I'm a little slow but this set off all the alarms. I called paypal security and they confirmed my fears that the first text was most likely a scam. I also have been in contact with Cycle Trader and they have been very cavalier about the whole thing. I reminded them that criminal were targeting their website and their customers and questioned what was their plan to protect future customers. No repsonse as yet. Just want my brothers to be aware, paypal advised this was a known problem and what criminals do is after they post the funds they call their credit card and dispute the transaction. Paypal advised that as a seller you have no protection when it comes to vehicles. So my friends, bottom line I was lucky and want to avoid anyone else getting sucked into this trap.

Feb 19, 2014 | 01:53 PM

OKMICK

Seasoned HDF Member

Joined: Jul 2012

Posts: 81,309

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From: Oklahoma City

Don, I realize your post is with good intention but this is a scam that is so widely known I am surpised you haven't heard of it previously. In the future I would wait for the Nigerian Prince who can't get his money out of the country to respond so you know the funds are solid.

Feb 19, 2014 | 02:02 PM

Scootluver

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Joined: Apr 2012

Posts: 233

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From: So Cali

Quote:

Originally Posted by OKMICK

LOL! Exactly how I was going to respond. Waiting for the Nigerian prince to purchase the scooter after you help him clear his funds through customs by pay the custom's fees.

Feb 19, 2014 | 02:02 PM

Robbysride

Tourer

Joined: Oct 2011

Posts: 260

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From: Los angeles

The Nigerian prince is totally legit.

Feb 19, 2014 | 02:08 PM

cbaywolf

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Joined: Nov 2013

Posts: 179

Likes: 2

From: Maryland

I'm not sure what you would want (expect) Cycle Trader to do with this information. It's your responsibility to make sure a seller pays for the goods- not theirs. But hopefully this will make some gullible people more aware- If you don't have a cashiers check, I would always wait about a week to make sure the funds clear- just common sense.

Feb 19, 2014 | 02:11 PM

Elmwood Deluxe

Cruiser

Joined: Nov 2013

Posts: 147

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From: Westminster, MD

Post it on craigslist,... guarantee you'll get 50 more scams identical to this lol,.. sorry man but this is the oldest scam in the book.

Feb 19, 2014 | 02:35 PM

jam436

Supporter

Joined: Jun 2012

Posts: 2,912

Likes: 73

From: Pittsburgh, PA

Quote:

Originally Posted by Don Cronaueri

...I reminded them that criminal were targeting their website and their customers and questioned what was their plan to protect future customers. No repsonse as yet...

Ask the NSA, I'm sure they know who these people are...