Why Are Bank Accounts Getting Blocked in Pakistan Due to P2P Crypto Trading?
1. P2P Crypto Scam: "Chain Dispute"
In this scam, a fraudster tricks someone into sending money to their bank account. Then, the scammer reports to the bank that their account was hacked or the money was sent by mistake.
This causes the bank to freeze their account and all other accounts that received money after that — even if those people were innocent. This is called a chain dispute because it affects many accounts in a chain.
2. Crypto is Still Banned in Pakistan
The State Bank of Pakistan (SBP) has banned cryptocurrency since 2018. Banks, money exchanges, and digital wallet apps are not allowed to support crypto trades like Bitcoin or USDT.
If a bank finds that you're doing crypto-related transfers, it must report your account as suspicious to the authorities.
3. Real People, Real Problems
Many people have shared their problems online. For example:
One person said: “Even if you collect proper documents from the sender, your account can still get blocked for months due to a chain dispute.”
Another said: “I sold a small amount of USDT on Binance P2P, and the seller later complained. My bank account was blocked.”
#summary :Why Accounts Get Frozen
Reason What Happens
Chain Dispute Scams One report causes a ripple effect, freezing many connected accounts.
Suspicious Activity Crypto is treated as suspicious by banks due to SBP rules.
Crypto is Illegal Trading crypto in Pakistan is not legal, so it always carries risk.
