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Reddit Scams: How Scammers Use Reddit to Steal Victims’ Money

Reddit Scams: How Scammers Use Reddit to Steal Victims’ Money

March 30th, 2023
Scams & Fraud
Reddit Scams: How Scammers Use Reddit to Steal Victims’ Money

We all have a fandom of some sort that we try to keep updated with. Whether it be a favorite music artist, sports team, television show, company, etc., we can always rely on social media networks, such as Facebook, Snapchat, and Twitter to keep us in touch with whatever we are following. One site that’s meant for checking up on fandoms while seeing what other people have to say about them is Reddit, but those who use this site need to be careful and avoid Reddit scams.

What is Reddit?

Reddit is a vast platform consisting of various forums called subreddits, which users can follow based on their interests. These subreddits represent specific topics or fandoms, providing a space for people to discuss and interact with others who share the same passion. Reddit encompasses an extensive range of topics and fandoms, from Disney, video games, and sports teams to music artists and social movements, to name a few.

Each subreddit also has rules for members to follow so that each person has an opportunity for their posts to trend, and also to make sure that everyone is respectful in these mini-communities. Even though Reddit is a fun place to meet people with your particular interests, scammers still lurk the site so it is best to be careful about the different types of Reddit scams that happen within the site.

Types of Reddit Scams

Crowdfunding Scam

This is where scammers stage fake campaigns on forums for people to donate to a specific cause. The victims then donate to the cause or campaign to support it thinking it is a legit organization. The scammers usually ask victims to pay them via gift cards, bank accounts, or CashApp. However, the scammer ends up keeping everyone’s money and doesn’t donate it to the cause promised.

Messages on Reddit Scams

Scammers send you a message convincing you to click on a link for some urgent reason. You then get redirected to a web page where it downloads malware onto your computer and asks for your personal information for “important reasons.”

Once you enter your information, scammers are able to use it to commit identity theft and steal your money. The malware downloaded on your computer can also strip your information from your computer and send it over to scammers.

Credit Card Debt Relief Scam

A scammer tricks their victim into a conversation about their finances to find out if they have any credit card debt. The scammer then tells them about a supposed program that can help them get rid of their credit card debt and gives a personal example of how it helped them.

They then ask their victim for their credit card information to get started. However, once they give the scammer their credit card information, the scammer uses it to buy things, commit identity fraud, and steal money, then blocks the victim, committing credit card fraud.

Romance Scammers

Romance scammers and premium girls are also lingering around on Reddit’s platform, waiting to talk to victims and steal their funds. They charm their victims and gain their trust quickly by coming up with fake emotional stories or common interests so that their victims fall in love with them faster. They usually get them to message the scammers on messaging sites, such as Kik.

They then tell their victims how they need help with something and ask their victims for money to deal with whatever issue they are facing. They continuously ask for money even after you’ve given it to them, and once you can’t give them any more money, they stop talking to you.

How to Avoid Reddit Scams

  • Do your research on a campaign before donating. An organization that you are trying to donate to could be fake, so it is best to do your research on it to find out if it is legit or not before giving them any money.
  • Don’t click on any random links from people you don’t know. The links could be filled with malware that can steal personal information from your computer. Even if you don’t fill out the form with your personal information, your personal information could still be stolen from you via email, which is why its best to not open any random links that someone sends you at all.
  • Don’t give anyone your financial/personal information or money for any reason. They will just keep coming back to you asking for money if you help them out financially. Also, by giving them any information about yourself they can commit identity theft and steal your funds. Lastly, no one asks for a credit card number with innocent intentions, they will most likely use it for their own gain instead of helping you out with your financial issues. If someone was given financial information, make sure to report them. 
  • Video chat or meet in-person before starting a friendship or relationship with someone. This will allow you to verify that who they say they are is really who they are before getting close to them and trusting them. Most of the time, scammers will use someone else’s picture to lure their victims in. If you video call them or meet them in person, you are verifying to yourself that you are not being catfished.

Social Catfish is Here to Help You!

If you feel like you were a victim of Reddit scams, or were scammed on a similar platform, Social Catfish is here to help you! We can reverse search any name, email address, phone number, social media username, or image to find out who you were really talking to. This information can be helpful when reporting your experiences to local law enforcement so that they can try to get your money back.

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