Fake Proof of Payment Scams in P2P Crypto Trading – Spotting and Avoiding Them in 2025
Main Takeaways
Proof of payment scams involve deceitful payment confirmations designed to make crypto sellers believe that they have been paid and release their digital assets to the buyer.
When trading P2P, always wait for official confirmation before releasing crypto. Ensure that the buyer's account details match those on the platform, and examine the proof of payment for inconsistencies.
Avoid falling victim to scams by remaining vigilant, checking payment directly from your wallet or bank account, and being cautious with urgent requests.
At Binance, we work hard to ensure the safety of our P2P trading community. However, traders’ own vigilance and awareness are the first and strongest line of defense. Malicious users can try to take advantage of P2P traders by using proof of payment scams, which involve sending fake payment confirmations to the seller.
In this guide, you’ll learn how proof of payment scams work, seven ways you can avoid such scams, and what to do if you’ve fallen victim. Read on to ensure a secure and enjoyable P2P trading experience on Binance.
What Are Proof of Payment Scams in P2P Trading?
Proof of payment scams occur when a buyer sends a counterfeit payment confirmation to the seller, tricking them into releasing the crypto without actually receiving the payment.
Two common techniques involve:
Fabricated screenshots: carefully edited images of bank transactions that appear real at first glance
Fake banking websites that perfectly mimic their legitimate counterparts.
Remember: psychological manipulation plays a key role in these scams. Criminals may try to pressure you with “medical emergencies” or “legal threats.” When in doubt, always contact the Binance Support team.
7 Ways to Avoid P2P Payment Scams
1. Trade with verified merchants: Always look for yellow-checkmark traders on Binance P2P. These are trustworthy merchants who have undergone rigorous verification and completed a significant volume of P2P trades on Binance with high positive feedback rates.
2. Verify account names and numbers: Before initiating the trade, double-check the payment details. Make sure the Binance account name and bank account name of the buyer match the details on the platform. Avoid third-party payments; only use Binance P2P's platform to execute your trade.
3. Wait for official payment confirmations: Never rely on proof provided by the buyer. Instead, check the account balance of your selected payment method. Some platforms may take some time to receive payment, so be patient before releasing your crypto.
4. Be cautious of urgent requests: Scammers often create a sense of urgency, pushing sellers to release the crypto quickly. Stay calm and be wary of claims that their account will freeze or threats of legal action if you don’t release the crypto immediately.
5. Examine proof of payment carefully: Inspect the buyer's proof of payment for inconsistencies, such as altered fonts, mismatched logos, or irregular transaction details. Any discrepancies should raise a red flag. Report or raise an appeal to Binance support immediately if you observe any signs of a scam.
6. Maintain open communication: Ensure you and your trading partner maintain open communication throughout the process. Use the chat feature in the P2P trading platform to resolve any issues or clarify concerns. Never communicate with your trading partner via third-party apps like WhatsApp or Telegram.
7. Contact customer support: If you have any doubts about your trading partner, you can tap [Report] in the top right of your chatbox window. Provide as much detail as possible, including screenshots and transaction ids.
Below are some examples of manipulated or forged proof-of-payment documents provided by P2P scammers.
What to Do If You’ve Fallen Victim to a Payment Scam
Take these immediate actions:
File a report to Binance Support: Click [Report] in the Binance P2P trade chat or directly from the merchant’s profile. Screenshot the entire conversation history as evidence, including any payment “proof” provided by the buyer.
If you notice anything suspicious before an order is completed or cancelled, promptly raise an appeal and suspend the transaction to prevent potential financial loss.
Contact the police: Binance works closely with law enforcement agencies worldwide to combat scammers. Provide as much relevant evidence as possible. Recovering your money is not guaranteed. However, in most cases, this is your only chance to retrieve the stolen funds.
Avoid third-party recovery services: Recovery services are often second-order scams, making false promises and requiring upfront payments. Your best chance of recovering stolen funds is through the police or by contacting Binance Support. Don’t get fooled twice.
How Binance P2P Protects You From Scammers
Binance P2P incorporates multiple layers of security to keep you and your crypto secure from malicious individuals. Below are a few of the many security measures we employ:
Secure Transactions with Escrow
Funds are automatically reserved in the seller's Funding Wallet when an ad is posted. If the buyer fails to complete their end of the trade, our customer support team will release the reserved crypto back to your account.
Appeals Process
If communication breaks down, disputes occur during transactions, or the counterparty is acting suspicious, you can initiate an appeal. Our customer support team is available 24/7 to troubleshoot any issues with your P2P experience.
Verified Merchants
We employ a rigorous screening process for all our verified merchants, which you can find with a yellow tick next to their name. By adjusting your P2P ad settings, you can opt to trade only with verified merchants.
Risk Control Measures
Binance employs a comprehensive risk control system designed to minimize fraudulent activity on its P2P platform. This system includes advanced monitoring tools and verification processes to ensure a secure trading environment for all users.
Final Thoughts
As a P2P trader, you must remain vigilant to avoid falling victim to proof of payment scams. By following the tips mentioned above and adhering to Binance's guidelines, you can protect yourself and enjoy hassle-free, secure P2P trading.
Always verify payments through official channels.
Don’t rely on buyer-provided proof.
If the buyer seems suspicious, contact customer support immediately.
If you’ve fallen victim, remember that filing a report and contacting the police as soon as possible maximizes your chances of recovery.
Stay safe and trade wisely.
Get Started With Binance P2P
Ready to start trading on Binance P2P? Register a new Binance account or download the Binance app. Once you've completed your identity verification, you can start buying and selling crypto on the Binance P2P marketplace.
Further Reading
Disclaimer: Your use of Binance P2P services and all information and other content (including that of third parties) included in or accessible from Binance P2P services is at your sole risk. Our only responsibility is to handle crypto transactions. All payments are final upon completion unless otherwise required by law. The Binance P2P platform has neither the right nor obligation to resolve any disputes arising from a completed payment. Neither the Binance P2P platform nor its merchants shall be responsible for any loss after a completed payment.