P2P (peer-to-peer) scams involve fraudsters deceiving individuals into sending money or cryptocurrency through P2P platforms under false pretenses. A significant scam involves fake payment proofs, where scammers send manipulated screenshots or forged receipts, tricking victims into releasing cryptocurrency before actual payment. Another prevalent tactic is the triangle scam, where two scammers coordinate; one poses as a buyer and the other as a seller, manipulating the victim to send funds without receiving the promised goods or cryptocurrency.
Chargeback fraud is also common, where a buyer uses a reversible payment method, receives the crypto, and then files a chargeback, leaving the seller without funds or their digital assets. Furthermore, impersonation scams occur when fraudsters pose as platform support or trusted individuals to gain access to accounts or convince victims to send money. Scammers also exploit trust by initially conducting small, legitimate transactions before executing larger fraudulent ones. To avoid these scams, always verify payments directly on your bank account or wallet, be wary of unusually good offers or pressure to act quickly, and only transact with known and trusted parties.