Learn about scams: fraudulent cryptocurrency transfers
2025-03-31
Highlights:
Money transfer scams are a common threat to cryptocurrency users. They can occur in two scenarios: P2P trading or in everyday transactions when purchasing goods or services.
Always make sure to operate on a reliable P2P platform with robust security measures and that the counterparty is a trustworthy person or entity.
Were you a victim of a scam? Report the incident immediately to the relevant local authorities and to Binance Customer Support.
In money transfer scams, criminals try to deceive victims with false promises to get them to send money. These scams usually occur in two types of situations:
Peer-to-Peer (P2P) Trading. In Peer-to-Peer (P2P) markets, buyers and sellers can interact directly with each other to negotiate prices, payment methods, and the amount of cryptocurrency to be exchanged. While P2P cryptocurrency trading offers greater control over the process compared to any other method, it still carries certain risks, for example, criminals trying to steal money.
Transactions for goods or services. Be cautious if you accept cryptocurrencies as a form of payment. Scammers identify victims and send fake emails claiming there is a delay in payment or requesting a “deposit fee” to complete the transaction.
Heads up, something similar happened to me yesterday with a Telegram user. Thanks to customer support at Binance, it didn't escalate. Excellent service from Binance, thank you very much.