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🚨 Binance P2P Scam Alerts — Stay One Step Ahead
Fraudsters are becoming more cunning in Binance P2P trading.
Below is a guide to the most common scam types, real-life scenarios, and the best ways to protect yourself.
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1️⃣ Popular Scam Techniques
A) Fake Payment Screenshot
How it works:
You sell USDT on Binance P2P. The buyer sends a payment screenshot that looks real — but they never actually transfer the funds. If you release your crypto without confirming in your bank, it’s gone.
Example:
A buyer shows you proof of a PKR 50,000 transfer. Later, you see no such amount in your bank account.
Protection Tip:
Always verify the funds directly in your bank account.
Communicate only through Binance’s built-in chat (kept for dispute resolution).
---
B) Chargeback Fraud
How it works:
The buyer uses a reversible payment method (like PayPal or a credit card). After you release the USDT, they file a dispute or chargeback, taking the money back.
Example:
They pay you via PayPal, then claim it was an “unauthorized transaction.” PayPal refunds them, leaving you with no crypto and no cash.
Protection Tip:
Avoid reversible payment options.
Stick to verified direct bank transfers.
---
C) Trading Outside Binance
How it works:
A buyer convinces you to trade via WhatsApp, Telegram, or another platform for “better rates” or “no fees.” Once they get the crypto, they disappear.
Example:
You agree to an off-platform deal. After sending USDT, the buyer blocks you.
Protection Tip:
Never leave Binance’s escrow system.
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D) The Overpayment Trick
How it works:
The buyer “accidentally” sends more money than agreed and asks for a refund. Later, their original payment is reversed, so you lose both your crypto and the refunded cash.
Example:
You sell USDT for PKR 50,000. They send PKR 70,000 and ask for PKR 20,000 back. Bank reverses the PKR 70,000, leaving you down PKR 20,000.
Protection Tip:
Only refund once funds are confirmed genuine and irreversible.
If this happens, contact Binance Support.
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E) Phishing & Account Hacking
How it works:
Scammers send fake Binance login links or warning emails. Once you enter your details, they gain access and withdraw your funds.
Example:
You get an email saying, “Your account is at risk — click here to secure it.” The link takes you to a fake site.
Protection Tip:
Ensure the URL is exactly binance.com.
Turn on Google Authenticator 2FA.
Avoid clicking unknown links.
---
F) Pump & Dump Groups
How it works:
Groups claim to have “inside info” on coins that will skyrocket. Price pumps briefly, then the insiders dump their holdings, crashing the price.
Example:
You buy at $1.50 based on a “signal.” Minutes later, it crashes to $0.30.
Protection Tip:
Ignore hype groups and “guaranteed profit” claims.
Always research before investing.
---
🛡 Golden Rules for Safe P2P Trading
✅ Trade only within Binance escrow.
✅ Confirm money is in your bank before releasing crypto.
✅ Avoid PayPal and other reversible payments.
✅ Enable 2FA and withdrawal whitelist.
✅ Keep all chats inside Binance.
✅ Don’t trust “too good to be true” offers.
Follow and be updated for upcoming updates in crypto 🌎
Below is a guide to the most common scam types, real-life scenarios, and the best ways to protect yourself.
---
1️⃣ Popular Scam Techniques
A) Fake Payment Screenshot
How it works:
You sell USDT on Binance P2P. The buyer sends a payment screenshot that looks real — but they never actually transfer the funds. If you release your crypto without confirming in your bank, it’s gone.
Example:
A buyer shows you proof of a PKR 50,000 transfer. Later, you see no such amount in your bank account.
Protection Tip:
Always verify the funds directly in your bank account.
Communicate only through Binance’s built-in chat (kept for dispute resolution).
---
B) Chargeback Fraud
How it works:
The buyer uses a reversible payment method (like PayPal or a credit card). After you release the USDT, they file a dispute or chargeback, taking the money back.
Example:
They pay you via PayPal, then claim it was an “unauthorized transaction.” PayPal refunds them, leaving you with no crypto and no cash.
Protection Tip:
Avoid reversible payment options.
Stick to verified direct bank transfers.
---
C) Trading Outside Binance
How it works:
A buyer convinces you to trade via WhatsApp, Telegram, or another platform for “better rates” or “no fees.” Once they get the crypto, they disappear.
Example:
You agree to an off-platform deal. After sending USDT, the buyer blocks you.
Protection Tip:
Never leave Binance’s escrow system.
---
D) The Overpayment Trick
How it works:
The buyer “accidentally” sends more money than agreed and asks for a refund. Later, their original payment is reversed, so you lose both your crypto and the refunded cash.
Example:
You sell USDT for PKR 50,000. They send PKR 70,000 and ask for PKR 20,000 back. Bank reverses the PKR 70,000, leaving you down PKR 20,000.
Protection Tip:
Only refund once funds are confirmed genuine and irreversible.
If this happens, contact Binance Support.
---
E) Phishing & Account Hacking
How it works:
Scammers send fake Binance login links or warning emails. Once you enter your details, they gain access and withdraw your funds.
Example:
You get an email saying, “Your account is at risk — click here to secure it.” The link takes you to a fake site.
Protection Tip:
Ensure the URL is exactly binance.com.
Turn on Google Authenticator 2FA.
Avoid clicking unknown links.
---
F) Pump & Dump Groups
How it works:
Groups claim to have “inside info” on coins that will skyrocket. Price pumps briefly, then the insiders dump their holdings, crashing the price.
Example:
You buy at $1.50 based on a “signal.” Minutes later, it crashes to $0.30.
Protection Tip:
Ignore hype groups and “guaranteed profit” claims.
Always research before investing.
---
🛡 Golden Rules for Safe P2P Trading
✅ Trade only within Binance escrow.
✅ Confirm money is in your bank before releasing crypto.
✅ Avoid PayPal and other reversible payments.
✅ Enable 2FA and withdrawal whitelist.
✅ Keep all chats inside Binance.
✅ Don’t trust “too good to be true” offers.
Follow and be updated for upcoming updates in crypto 🌎
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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