This scam usually takes place by someone asking the victim to use a certain gambling site, and then saying that they gave the victim some free bitcoin to start playing/gambling with. If the victim attempts to withdraw the funds, the website then asks the victim to deposit a certain amount of bitcoin, claiming that deposit to be for the “withdrawal fees”; but in fact, the victim is sending the bitcoin to the hacker’s bitcoin wallet. After the victim makes a deposit, the scammer then runs away with the deposited bitcoin.
This scam usually is being attempted via private messages on forums and some social media sites.
If someone on social media messages you that’s describing a similar scheme, take a few seconds and report the account to hopefully prevent other people from getting scammed.
How the scam works
-A scammer messages you on forums or on social media.
-The scammer says that he/she is giving you some money through this exchange site.
-The scammer asks you to register for the scam exchange.
-The scammer tells you that he/she has given you some coins on your account(mostly .5 BTC to sometimes up to 5 BTC to be more enticing).
-To be able to withdraw the funds, the scam exchange would then require you to deposit some bitcoin for the withdrawal fee, whereas the coins being demanded are mostly worth a decent amount of money (0.01+ BTC).
-After you deposit the BTC for the “withdrawal fee”, the scammer simply runs away with your money.
How to protect yourself
Ignore such messages. Specially ads that promote these sites.