Bank Accounts Getting Blocked in Pakistan Due to Binance P2P? Here’s What You Need to Know
Over the past few months, dozens of Pakistani users have found their bank accounts suddenly frozen — all because of one thing: P2P crypto trading on platforms like Binance.
Let’s break down exactly what’s happening — and how you can stay safe 👇
🚨 What’s Causing the Account Freezes?
It usually goes like this:
1. You buy or sell crypto using Binance P2P
2. You receive or send payment through a regular bank transfer
3. Your bank notices the activity and flags it as “suspicious”
4. Your account gets frozen for “fraud prevention”
Sounds harsh — but it’s happening more than ever.
🧾 Why Are Banks Taking Action?
In Pakistan, crypto isn’t fully banned, but it also isn’t clearly legal. The State Bank of Pakistan (SBP) has warned financial institutions to monitor and report crypto-related activity.
That means your account could be flagged if you:
Receive money from multiple unknown people
Make frequent high-value transactions
Deal with buyers who later raise disputes or chargebacks
⚖️ Is P2P Trading Illegal in Pakistan?
No, but it lives in a grey zone.
There’s no law directly banning it — but due to SBP’s cautious stance, banks often take preemptive action against any crypto-linked activity.
Even genuine users might face:
🔒 Account freezes
⏳ Funds held for 30–90 days
🔍 Investigations without a clear outcome
🛡️ How You Can Protect Yourself
Here are some smart precautions:
✅ Trade only with verified Binance users
✅ Always complete KYC of buyers/sellers
✅ Avoid dealing with unknown or high-risk users
✅ Keep full records and screenshots of each transaction
✅ For serious trading, consider using a separate business account
🗣️ Final Thoughts
P2P platforms like Binance offer freedom and flexibility — but they also carry serious risks in countries with unclear crypto policies like Pakistan.