Online Safety: Safe buying, selling, and transfers

Sometimes, the first sign of a scam is money appearing where you weren't expecting it.

It could be a payment from someone you don't recognise, a transfer for the wrong amount, or a message explaining that the money was sent by mistake and asking you to return it. The request may sound genuine, especially if the other person seems keen to resolve the issue quickly.

Genuine mistakes do happen. But scammers also rely on situations like these, hoping you'll send money before you've had the chance to confirm where the original payment came from. Knowing what to look for can help you avoid turning an unexpected payment into a costly mistake.

When something doesn't add up

Not every unexpected payment is a scam, but some situations deserve a closer look. Someone may ask you to return money shortly after it arrives in your account. They might claim they've transferred too much, paid the wrong person, or needed the funds sent to a different bank account or wallet. In other cases, you may receive what looks like proof of payment before the funds have cleared.

Requests like these can seem reasonable, particularly if the person appears genuine or is eager to resolve the situation. However, they're also common tactics used to pressure people into acting before they've confirmed the payment.

If something about a transaction changes unexpectedly, it's worth stopping to confirm the details before sending funds.

Protecting yourself during a transaction

A few simple checks can help reduce the risk of payment scams. Before sending funds or returning an unexpected payment:

• confirm where the original payment came from before transferring money to another account or wallet
• wait until funds have cleared rather than relying on screenshots or payment notifications
• be cautious if someone asks you to return money immediately or changes payment details partway through a transaction
• double-check wallet addresses before sending cryptocurrency

If something doesn't seem right, contact your bank, financial institution or the relevant organisation before taking further action.

How BTC Markets will contact you

If a request claims to come from BTC Markets, take a moment to consider what's being asked of you. We will never ask you to return funds or move your cryptocurrency to another wallet to "protect" your account. We will also never ask for your password, recovery phrase, or one-time verification (2FA) codes. If a message asks you to do any of these things, contact our Support team through our official channels before responding.

When in doubt, pause

Unexpected payments and changes to transaction details don't always mean something is wrong, but they're worth a second look. Taking a moment to confirm where funds came from or why payment instructions have changed can help you avoid making a costly mistake.

If something doesn't seem quite right, trust your instincts and check before completing the transaction.

Learn more about how to protect yourself at https://www.scamwatch.gov.au/

Disclaimer: The information provided on this page is issued by BTC Markets Pty Ltd (BTC Markets, we, us, our). The information is general only and is not intended to constitute an opinion or recommendation with respect to its contents. Past performance is not a reliable indicator of future performance. Any reference to past performance is intended to be for general illustrative purposes only. The information cannot be relied upon for any purpose and is not intended to be a substitute for professional advice.

The information does not purport to be complete, accurate, or contain all the information that a person may require to make a decision. It may also contain forward-looking statements, which are subject to known and unknown risks, uncertainties, and other factors. We recommend you obtain professional advice before making any decision with respect to the matters discussed in this document. To the maximum extent permitted by law, BTC Markets will have no liability for any loss or liability of any kind: (i) arising in respect of the information contained (or not contained) on this page; or (ii) arising from a person relying on any information or statement contained on this page. The information provided is only intended for recipients in Australia. This information cannot be reproduced without our prior written permission.