One, the types of Binance scams I have seen or almost fallen into
A) Fake payment scams (most commonly encountered!)
Scammers will forge screenshots of successful bank transfers (using photo editing software to create fake images or texts), then pressure you to release cryptocurrency.
My lesson: Once, the other party sent a screenshot of 'transfer successful', and I almost released the coins, but luckily I habitually opened my mobile banking app to check — the money hadn't arrived at all!
Prevention: Never believe any screenshots! You must personally log into your bank app or online banking to confirm that the money has arrived before releasing coins.
B) Refund scams (never use PayPal/credit cards!)
The buyer first pays you with PayPal or a credit card, and once you release the coins, they immediately turn to the bank or payment platform to complain, falsely claiming 'unauthorized transaction' or 'fraudulent charge', and the bank will forcibly withdraw the money.
Real case: A friend of mine sold USDT, and the money did indeed arrive at that moment, but the next day the account was frozen — the buyer successfully complained, the money was withdrawn, and the coins were gone.
Prevention: Use only direct bank transfers or cash deposits as irreversible payment methods! Stay away from PayPal, credit cards, and other channels that can be reversed later.
C) Off-platform transaction scams (Binance can't help you!)
Scammers contact you on Binance P2P, then use various excuses (like 'save on fees', 'faster transactions') to lure you to complete the trade on WhatsApp, Telegram, or other platforms.
My painful experience: A buyer privately messaged me saying 'let's trade on Telegram for a better price'. I believed it, transferred the coins, and was instantly blacklisted. I contacted Binance customer service, and they said the transaction occurred outside the platform and could not be processed.
Prevention: All communication and operations must be completed in the Binance chat window and trading system! Once you leave the platform, Binance's protection umbrella is gone.
D) Overpayment traps (the schemes are deep!)
The buyer 'accidentally' transfers you much more than the agreed amount (e.g., should transfer 50,000 but transfers 70,000), then urgently pressures you to refund the excess amount (20,000) to them.
After you refund the price difference with your own money, a horrifying thing happens: the original large transfer (70,000) is revoked by the bank (possibly due to money laundering or fraudulent charges), and the result is that your coins are gone, and you also lost the refunded money.
Prevention: If the other party sends too much money, never attempt to refund it yourself! Immediately freeze the transaction and contact Binance customer service to handle it.
E) Phishing attacks (specifically targeting accounts!)
You will receive phishing emails, texts, or links pretending to be Binance customer service, saying your 'account is at risk' or 'needs verification', and clicking on them leads to a high-fidelity fake login page. As soon as you enter your account password and verification code, hackers can instantly empty your assets.
Key identification point: Remember, real Binance customer service will never proactively ask you for your password, SMS verification code, or Google Authenticator code! Carefully check the links; fake websites usually have spelling errors (like bınance.com or binance-support.com).
Prevention: Always enable Google Authenticator (2FA), and do not use SMS verification. Only download the official app from the Binance website. Do not click on unfamiliar links!
F) Pump groups harvesting retail investors (total loss!)
Those Telegram or WhatsApp groups where 'teachers' or 'experts' call out trades, saying a certain small coin will 'take off immediately' or 'must rise 500%', urging everyone to buy in unison. The price is indeed driven up temporarily, and as soon as retail investors rush in, they (the manipulators and their accomplices) immediately sell at high prices, causing the coin's price to crash instantly, leaving retail investors with heavy losses.
What I saw: The group frantically shouting to buy a coin called XYZ, saying 'once in a lifetime', and then less than 10 minutes after buying, the price plummeted by 80%, and the group leader and admins vanished, the group was muted.
Prevention: Never believe in any 'insider information' or 'exclusive calls'. Research the project's white paper, team background, and on-chain data by yourself before investing, relying on your own judgment.
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Two, my golden rules for avoiding scams (experience summary)
1. Money arriving is real: Before releasing coins, you must! Must! Must! personally check your bank account balance to confirm receipt. Screenshots, SMS notifications, and email alerts are all untrustworthy.
2. Stick to platform trading: All steps must be completed within the Binance P2P system. Anyone asking you to trade on an external platform (WeChat, WhatsApp, Telegram, etc.) is 100% a scammer. Just refuse directly.
3. Use only secure payment methods: Only accept direct bank transfers (confirmed irreversible), cash transactions in person, and other secure payment methods. Steer clear of PayPal, credit cards, gift cards, and other payment methods that can be reversed later.
4. Choose the right trading counterpart: Only trade with reputable merchants. Check their completion rate (preferably over 95%), number of completed trades (at least hundreds), and quantity of positive reviews. New accounts or low-reputation accounts carry high risks.
5. Protect personal information: Absolutely do not send your complete bank card number, ID photos, passwords, or other sensitive information to buyers! The Binance platform has already verified essential information from both parties; these are not needed for transactions.
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Three, the Binance security settings I must implement (essential for theft prevention)
*Enable two-factor authentication (2FA):** Bind Google Authenticator, which is much more secure than SMS. This is the first line of defense against account theft.
1. Set up a withdrawal whitelist: In the security settings, only allow funds to be withdrawn to wallet addresses you have pre-added and verified as belonging to you. Even if hackers steal your account, they cannot transfer your money.
2. Regularly change strong passwords: Passwords should mix uppercase letters, lowercase letters, numbers, and special symbols, and change them approximately every three months.
3. Manage logged-in devices: Regularly check 'Settings > Security > Device Management' to review and delete login records of unfamiliar or unused devices.
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Four, what should I do if I get scammed (emergency response)
1. Immediately file a complaint on the platform: Find the order you were scammed on, click the 'Appeal' or 'Contact Customer Service' button, and submit screenshots of your chat records and bank transfer records (proving you didn't receive the money or that the money was withdrawn).
2. Gather all evidence: Quickly screenshot the scammer's Binance account information, complete chat dialogue (especially anything inducing you to go to an external platform or pressuring you to release coins), and your bank statements (showing transaction time and status). The timestamps must be clear.
3. Report scammer accounts: Submit a ticket at Binance's reporting center, detailing the situation. The platform will freeze the scammer's account after verification, preventing them from harming others.
4. Consider reporting to the police: If the amount involved is significant, promptly report to the cybersecurity reporting platform in your area (such as the http://cyberpolice.cn website in China).
Key mindset: Don't be greedy for small gains, don't fear the other party's pressure, and absolutely never leave the platform! Scammers love to exploit people's urgency, desire for convenience, and greed. The calmer you are, strictly adhering to the rules, the less they can do to you.
Stay vigilant, trade safely! If you encounter uncertain situations, go to the official Binance help center for inquiries.
