NEWS: The developers of OpenBazaar have released a service to help prevent scams from occurring within the OpenBazaar application called Verified Moderators. This feature displays which moderators have been vetted by OB1 and ultimately provide a greater level of comfort when transacting in OpenBazaar (shown above).
OpenBazaar is a decentralized, free and open-source network for trading goods and services directly and privately between people. It is made up of users running the software on their computers all over the world which allows for great opportunities but also requires a high level of responsibility from each user.
Here are 5 suggestions to avoid potential scams on OpenBazaar:
- Simply choosing a moderated payment doesn’t protect you; only choosing a reputable moderator protects you. If you don’t recognize any of the moderators a vendor offers, it’s best to take some time to reach out to them or purchase from a different vendor. Prefer verified moderators over unverified.
- Vendors should offer multiple moderators for buyers to choose from. If the vendor offers only one moderator and they are unknown to you, they might be attempting to scam you.
- Always use moderated payments (choose a moderator at checkout) for large transactions unless you completely trust the vendor. There is no way to open a dispute if you sent the funds directly.
- If it sounds too good to be true, it usually is. Most reported scams are for large value items like cryptocurrency miners that were offered at a steep discount.
- OpenBazaar has no company or organization in control of the platform that can control, interfere with, or even see a user’s transactions. There is no one capable of refunding your money if you are scammed.
If you feel you may have been scammed, please report the vendor and/or moderator on the scammer Reddit thread. We apologize for the inconvenience and are working hard to release the Verified Moderators feature as fast as we can. Until then, please be careful with each transaction you make.