Read this before you send tokens to QSI | Protect yourself from Scammers

If a

If you’re reading this, it likely means the LOBSTR has detected that you’re about to interact with a known scammer. 

Please take a moment to pause, read through and understand the situation — Someone May Be Trying To Steal Your Money. 

Why am I seeing w
Cryptocurrency scams can be tricky and convincing, especially if you’re new to crypto. 

Scammers prey on trust and confusion, often promising great returns to trick you into sending them your hard-earned money. 

Before you take any further action, let’s walk through why interacting with assets promoted by QSI, Whiplash347 other scam groups might not be the legitimate investment it claims to be and how you can protect yourself.

Why am I seeing warnings in my wallet? 

Our system has flagged this transaction because it is associated with a scam group known as Quantum Stellar Initiative (QSI).

This group operates by pretending to offer safe investments but is, in reality, stealing funds from innocent people. They’ve already stolen over $30 million from others this year alone.

Source: VICE

How Does QSI Operate?
 

1.  They primarily communicate on Telegram: 

    ○  QSI communicates primarily through its Telegram group, sharing investment opportunities and urging users to participate in their Initial Coin Offerings (ICOs). 

2.  Make very convincing claims: 

    ○  Posing as a legitimate opportunity on the Stellar platform, QSI falsely claims to offer investments backed by real-world assets. 

    ○  They promote unrealistic gains, with promises like doubling your investment or earning guaranteed very high returns. 

3.  Ask you to send funds to a Stellar wallet: 

    ○  Victims are directed to send funds to a Stellar wallet address, often accompanied by QR codes for easy transfer. However, these transactions are irretrievable and tokens are lost foverer once sent. 

Why the warnings matter 

If you’ve noticed warnings when attempting to send funds to QSI wallets on LOBSTR, ask yourself: 

    ●  Why would a legitimate investment opportunity trigger a warning from LOBSTR, a secure and trusted wallet? 

    ●  If QSI was truly partnered with us at LOBSTR, why would we flag their wallets instead of endorsing them publicly? 

The answer is simple: QSI is not legitimate. These warnings exist to protect you from falling victim to their scam.

Why Should You Be Concerned?

    ●  Your funds will likely be gone forever: Cryptocurrency transactions are like handing over cash — once it’s sent, it’s nearly impossible to recover. 

    ●  It’s all a lie: QSI claims to invest your money in secure, real-world assets, but they don’t actually own or manage anything real. Their promises are designed to trick you. 

    ●  They exploit trust: Many victims are convinced by friendly-sounding people in chat groups or via direct messages. Don’t fall for this emotional manipulation. 

Take a deep breath, and don’t let anyone pressure you into making quick decisions. If someone convinced you to make this transaction, take a moment to talk it over with a trusted friend or family member. It’s always better to pause and verify than to risk losing your money. 

How to protect yourself

Keeping your money safe doesn’t have to be complicated. Here’s how you can protect yourself from scams like QSI and Whiplash347: 

     ●  Use verified assets: Be careful when adding or buying unverified assets in LOBSTR. 
We recommend you mainly interact with the Curated and Featured asset lists of assets verified by LOBSTR. These lists include assets with a proven track record in the Stellar ecosystem with legitimate companies behind them.

    ●  Take LOBSTR’s warnings seriously: Why would a legitimate investment trigger any warnings on LOBSTR? Assets with alerts have been reported for scams, fraud, or illicit activity by trusted Stellar community sources and other real users. Even if the creators insist otherwise, the risks are real. Always verify before engaging in ANY transactions. 

    ●  Carefully review asset details on LOBSTR: Before proceeding to buy or add an asset, take your time to review the asset details on LOBSTR. Verifying the asset issuer, liquidity, creation time, number of holders, and other key characteristics can help you avoid potential risks and significant losses.

    ●  Do your own research: Don’t rely on what someone else tells you — scammers often pretend to do the research for you. Instead, look it up through trusted sources or consult a financial advisor. Real opportunities will stand up to scrutiny. 

    ●  Hide scam assets from search: Enable this option in the Security section of LOBSTR Settings to automatically filter out assets reported for scams, fraud, or illicit activity by trusted partners and other users. Scammers may try to convince you to disable this setting—but legitimate projects will never ask you to.

    ●  Remember: If it sounds too good to be true, it probably is: Promises of guaranteed returns or huge profits with little effort are major red flags. Be cautious and trust your instincts. 

    ●  Watch out for pressure or confusing language: If someone is pushing you to act quickly or bombarding you with technical terms you don’t understand, it’s often a sign of a scam. Take your time, and don’t let anyone rush you. 

By following the steps above, you can make confident decisions and avoid falling victim to scams. 
Always pause and ask questions if you’re unsure — it’s better to be safe than sorry. 

What to do if you’ve been scammed

If you think you’ve fallen victim to a scam, don’t panic — there are steps you can take to protect yourself and others: 

    ●  Report the incident to LOBSTR: Submit a report by selecting the "Report fraudulent activity" option on the Asset Details screen or contact the LOBSTR support team at support@lobstr.co. Reporting scams helps blacklist fraudulent addresses and protect others from potential harm.

    ●  Secure your accounts: Change the passwords on your wallet, email, and any related accounts. This helps prevent any unauthorized access and secures your digital assets. You can also protect your wallet with multisignature as an extra security measure. 

    ●  Contact authorities: Reach out to local law enforcement or a regulatory agency in your area. Reporting the fraud can help authorities track down the scammers and protect other potential victims.

If needed — get in touch with the authorities

By taking these steps, you’re not only safeguarding your future transactions, but also contributing to a safer cryptocurrency space. Remember, acting quickly and staying vigilant is your best defense. 

Final thoughts 

Cryptocurrency investment scams like QSI are designed to trick people out of their hard-earned money. Remember, there’s no such thing as a “guaranteed return.” If something feels off, trust your instincts and consult with someone you trust before making a move. 

By staying informed, taking your time, and using trusted resources, you can protect yourself from these schemes. 

Learn more:

How to protect yourself from Scammers | Beware of SCAM

Please stay safe.