P2P Scam Alert in Pakistan
Recently, I encountered a serious issue while trading on **Binance P2P**. I sold **700 USDT (around PKR 205,000)** to a merchant. The buyer made the payment, and at first everything seemed normal. However, after **10 days**, my bank account was suddenly blocked, and the funds were frozen.
When I tried to reach the buyer, he ignored my calls and only responded on WhatsApp, claiming it was a “**chain dispute**.” At the bank, I was informed that a **dispute of PKR 205,000** had been filed by this trader. I submitted a written application, but the **bank refused to provide full details**, which made the situation even more stressful.
Fortunately, I kept solid evidence — the buyer’s **CNIC copy, payment screenshot, WhatsApp chats, contact details, and bank application.** I also reported the matter to **Binance**, though the process is moving slowly.
👉 **Lessons for Traders:**
* Never accept **third-party payments**.
* Use a **dedicated bank account** for P2P trading.
* Withdraw funds **immediately** after receiving.
* Always keep **transaction records**.
* Involve the **FIA Cyber Crime Wing** if disputes arise.
P2P trading offers convenience, but scams are increasing. Stay alert, safeguard evidence, and take legal action when necessary.
Peer-to-Peer (P2P) crypto trading has grown rapidly in Pakistan, offering traders the flexibility to buy and sell digital assets directly through trusted platforms like Binance P2P. However, along with this growth, scams and fraudulent activities have also increased, targeting both new and experienced traders. I recently faced such an issue, and I’m sharing my experience so others can avoid falling into the same trap.
My Evidence
Thankfully, I had documented the entire transaction. I kept:
The buyer’s CNIC copy
Payment screenshot
WhatsApp chats
Contact number
Bank application and acknowledgment
I also informed Binance support, though the resolution process is often slow and requires patience.
