Comprehensive Guide

How Reversed P2P Scams Work

1.The Setup: Scammers pose as buyers on Binance P2P, often offering inflated rates to lure sellers.

2. The Fraud: After receiving crypto, they contact their bank to reverse the payment, claiming:

- "Unauthorized transaction" (e.g., stolen card).

- "Mistaken transfer" (exploiting bank policies) .

3. The Fallout: Banks freeze all linked accounts under anti-fraud measures, including yours, even if you’re innocent .

Why Pakistan Is High-Risk

- Regulatory Gaps: Crypto trades lack legal safeguards, leaving users vulnerable to arbitrary freezes .

- Bank Policies: Pakistani banks often side with fiat claimants, ignoring crypto transaction proofs .

- AML Risks: Recent crackdowns on crypto-related fraud (e.g., $100M scams) have made banks hyper-vigilant .

Proactive Protection Strategies

1. Verify Counterparties:

- Trade only with users having 100+ completed trades and 95%+ positive ratings.

- Avoid new accounts or those with inconsistent names (e.g., bank account name ≠ Binance profile) .

2. Isolate Financial R:

- Use a separate bank account exclusively for P2P. Never link primary savings/salary accounts.

- Withdraw P2P proceeds to a cold wallet or unrelated account immediately.

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