*edited with GPT
I need some level-headed input.
A friend was approached with a deal that has me uneasy. It involves someone trying to move large amounts of USDT out of China due to crypto restrictions/capital controls. They want my friend to use a little-known wallet platform called “Assetspulse,” provide ID verification, receive USDT, then withdraw/trade it and pay out fiat. In return, they’re offering around 40% for the “favor,” which obviously sounds absurdly high. This is the exact message sent to my friend: “HERE ARE PROCEDURES FOR THE DEAL 🤝: Sender and receiver must come to a close conclusion of the total face value of 1m USDt erc20 once this is agreed, the sender passes the link for the receiver to create the https://Assetspulse.app wallet.
After this the Receivers must now submit his Identification card 🪪, his https://Assetspulse.app USDT erc20 wallet address and Wallet ID for the first tranche proceedings.
It is now agreed above that the first tranche is $1Million Worth of USDt erc20, being that the receiver has sent his https://Assetspulse.app USDt erc20 wallet address and the sender begins with the transfer of $1 Million Worth of USDt erc20 TO THE RECEIVER’https://Assetspulse.app USDt erc20 WALLET.
ONCE this has been confirmed in the receiver’s https://Assetspulse.app wallet, the receiver must withdraw the funds to his verified external ERC20 wallet. Coinbase/Binance/etc can supposedly be used.
After the receiver withdraws and trades the USDT ERC20, the sender provides bank account details for payout.
With the successful first tranche, the second tranche can now begin.”
I’ve already told my friend this is a legal gray zone at best, and they’re aware of that risk. What concerns me more is the security/scam angle. Some things that stand out to me: Unknown wallet/platform I’ve literally never heard of
Asking for ID upfront
Very large sums
40% payout sounds insanely unrealistic
The process feels weirdly structured/scripted
Possible laundering setup?
Possible malicious wallet / phishing / fake balance scam?
I’m not looking for legal advice here. I’m mainly asking: What are the biggest technical/security red flags?
Could this wallet/app compromise other wallets/devices?
Is there a known scam pattern similar to this?
What questions would you ask before going anywhere near this?
TL;DR: Friend was offered a 40% cut to help move large amounts of USDT out of China using an unknown wallet platform called Assetspulse. Requires ID verification and handling ~$1M USDT tranches. Trying to understand whether this looks like a scam, malicious wallet setup, phishing attempt, laundering setup, or something else entirely. Would appreciate opinions from people with more experience in crypto/security than me. Thanks [r/cc](r/cc).
submitted by /u/slushkan3an [link] [comments]r/CryptoCurrencyRead More
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