When it comes to peer-to-peer (P2P) cryptocurrency trading, most traders are well aware of traditional scams - chargebacks, fake receipts, and stolen accounts. But there is a new trick circulating in the market, so subtle that it surprises even experienced sellers.

New overpayment trap

Here's how it works step by step:

1️⃣ Legitimate start - The scammer initiates a normal deal on the P2P platform and sends you the payment for the agreed amount.

2️⃣ The "accidental" overpayment - instead of paying the specified amount, they send a little extra - usually between $3 and $5 more.

3️⃣ Polite request - They send you a message: "Sorry, I overpaid! Can you refund the extra amount?"

4️⃣ The trap closes - If you send a small refundable amount outside the platform, they will immediately report you for conducting a transaction off the platform. This may result in your account being reported, suspended, or banned, and worse - they still hold your cryptocurrencies.

✨️ Why does this scam work?

It seems harmless. Many sellers think they are being polite or maintaining a good reputation by refunding a small overpayment.

The platform's rules are strict. Most peer-to-peer trading platforms never tolerate money transfers outside the platform, even if they seem innocent.

The scammer controls the narrative. Once you are reported, the platform often sides with the buyer if you cannot prove otherwise.

How to protect yourself?

💥 Do not send or receive money outside the platform's payment path.

💥 If someone overpays, do not refund the amount directly - instead, ask them to cancel the transaction and restart it with the correct amount.

💥 Keep all communications within the platform's chat to have compelling evidence.

💥 Stay informed about the latest scam tactics - just like in markets, scam methods also evolve.

Summary

P2P trading can be safe and profitable, but it only works by strictly following the platform's rules. The overpayment scam may seem simple, but it is designed to exploit your goodwill against you.

⚠️ Reminder: In (P2P) trading, being careless could cost you your account - and your digital currencies.