Binance P2P Scam Alert: Fake Payment Reversal—How to Stay Safe

As peer-to-peer (P2P) trading continues to grow in popularity, scammers are evolving their tactics to exploit unsuspecting users. One of the latest and most dangerous scams targeting Binance P2P traders is the Fake Payment Reversal Scam. This article breaks down how it works and, more importantly, how you can protect yourself.

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How the Scam Works

1. The Setup:

A scammer initiates a P2P buy order to purchase crypto from a legitimate user.

2. Fake Payment Proof:

They send a screenshot or message claiming payment has been made, often using fake receipts or manipulated banking notifications.

3. Pressure Tactics:

The scammer rushes the seller to release the crypto before actual payment is received.

4. Payment Reversal (if made):

In rare cases where the scammer does send real money, it’s done via reversible methods (e.g., stolen bank accounts or disputed transactions), allowing them to reverse the payment after receiving the crypto.