P2P Scams in Pakistan: What Binance Users Should Know
Peer-to-Peer (P2P) trading has become one of the most popular ways to buy and sell crypto in Pakistan, especially due to limited banking support for direct crypto transactions. While Binance P2P offers a convenient and secure marketplace, scammers are increasingly targeting unsuspecting users with fraudulent activities. Understanding how these scams work — and how to protect yourself — is crucial for every trader.
Common Types of P2P Scams in Pakistan
1. Fake Payment Proofs
Some fraudsters share edited screenshots of bank transfers or mobile wallet payments to trick sellers into releasing crypto before actual funds are received.
2. Third-Party Payments
Scammers often use accounts that don’t belong to them, creating risks for sellers if the funds are later flagged as fraudulent or reversed.
3. Chargebacks and Reversals
Certain bank transfers, especially through online wallets, can be reversed. After receiving the crypto, scammers file disputes to take their money back.
4. Social Engineering & Pressure Tactics
Fraudsters pressure users into quickly releasing assets without verifying the payment. They may pose as trusted buyers or offer better exchange rates to lure victims.
5. Fake ID Verification
Scammers sometimes provide stolen or fake identity documents to bypass Binance security checks and open accounts for fraudulent activities.
How to Stay Safe on Binance P2P
Always verify payment: Never release crypto until you’ve confirmed the funds are received and available in your bank account.
Trade with verified merchants: Stick to traders with high completion rates, good feedback, and official verification badges.
Avoid third-party payments: Only accept transfers from accounts that match the buyer’s verified name.