A slip-up in P2P trading can cost you everything. Recently, a trader in Pakistan lost all his USDT in a classic scam.
Here's what happened:
He included USDT in Binance P2P. The buyer quickly sent him a fake payment screenshot and an SMS alert claiming that the transfer had been made. Without confirming it in his banking account, the seller, under pressure, panicked and released the cryptocurrencies. Hours later, with no money, no buyer, and no turning back. The scammer disappeared with his funds.
This is the harsh reality: scammers are becoming increasingly intelligent, and one mistake can wipe out your balance.
Red flags to watch out for
The buyer pressures you to release quickly without confirmation.
Fake SMS, emails, or screenshots showing 'payment made.'
New accounts with no trading history or poor reviews.
Offers that seem 'too good' with prices above the market.
✅ Protect yourself
Always log in to your own banking app to confirm the payment; never trust SMS or screenshots.
Release cryptocurrencies only after the funds have settled and are visible.
Trade with verified users who have a solid history and high completion rates.
If unsure, open an appeal on Binance immediately.
Remember: the escrow is your shield, but only if you use it correctly.
