The Warriors Ring Scam was usually found in high population member worlds such as world 144 at pest control and world 2 at Seers Village bank. One player (Scammer 1) would offer to buy a Warriors Ring for around 4-5 mil, even though it's only worth about 400k-500k. Occasionally, a Seers Ring may be used instead of a Warrior Ring. Another player (Scammer 2), who is working with the first scammer (Scammer 1), would then offer to trade an Abyssal Whip for a Warriors Ring. The Abyssal Whip is worth about 1.2-1.4 mil. So an innocent player would think that they could profit by trading their whip for the Warrior's Ring. However, once the player traded the scammer the whip for the ring, the other person offering to buy the ring (Scammer 2), logs off along with the person who sold the ring. Thus the person who traded the whip for the ring just got scammed for about 1-3 mil
Scammer 1: Trading Warrior's Ring for whip.
Scammer 2: Buying Warrior's Ring 5 mil
. Victim: Wow, I have a whip! I could trade my whip for the ring and then sell the ring and make a lot of money.
Victim trades Scammer 1 the whip for the Warrior's Ring.
:Victim tries to sell Warrior's Ring to Scammer 2.
Scammer 2 doesn't buy or logs out. Thus, Scammer 1 and Scammer 2 made a 1 mil profit by scamming the victim.
Although this is a scam, typically you cannot report this since Scammer 1 did not acually says the item in question (in this case the Warrior's Ring) was in fact that price. Scammer 1 simply offered to sell it for that price. Scammer 2 is also safe since he just typically offered a ridiculous price. no matter what happens Scammer 2 cannot be reported since lying is not breaking any of the rules.
This scam is easily prevented by looking up and knowing the actual prices of items before trading.
This scam is possible, because of the free trading change in 2011.
A good rule of thumb is that if a trade seems too good to be true, it probably is.