P2P Scam Alert in Pakistan – My Personal Experience & Warning
## 📌 What Happened
I sold **700 USDT (around PKR 205,000)** to a verified merchant on Binance P2P. Everything seemed normal: the buyer sent me the payment, I confirmed receipt, and the trade was completed. For the first few days, I thought it was a smooth transaction.
But after **10 days**, I was shocked to find my **bank account frozen**. A dispute of PKR 205,000 had been filed against the very same transaction. When I contacted the buyer, he ignored my calls and only replied on WhatsApp later, saying it was a “**chain dispute**.”
When I visited my bank, the Operations Manager confirmed the dispute but **refused to share details**. Despite submitting a written application, I was left in the dark, with my money locked and no clarity from the bank.
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## 📂 Evidence I Collected
Luckily, I had kept a complete record of the trade, including:
* The **buyer’s CNIC copy**
* **Screenshots of payment confirmation**
* **WhatsApp chats** with the buyer
* A **formal written complaint** to the bank
I also contacted **Binance support** and opened a ticket, but the process is slow, and I am still waiting for a resolution.
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## ⚠️ What This Scam Shows
This experience highlights two big issues faced by Pakistani P2P traders:
1. **Third-Party Payments** – Scammers often pay from someone else’s bank account, which creates legal disputes for the seller.
2. **Lack of Transparency in Banks** – Even with solid evidence, banks rarely provide full details to the victim, making it hard to defend yourself.
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## 🛡 Tips to Protect Yourself
My case taught me some hard lessons. If you are trading P2P in Pakistan, here’s what you should do:
✅ **Avoid third-party transfers.** Always check that the payment comes directly from the buyer’s verified account.
✅ **Use a separate bank account.** Keep one account only for P2P trading to limit risks.
✅ **Withdraw funds instantly.** Transfer money to another account as soon as it arrives.
✅ **Document everything.** Save CNIC copies, chats, and screenshots of each trade.
✅ **Know your legal options.** If your account is frozen, approach the **FIA Cyber Crime Wing** with all the evidence.
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## ✅ Final Thoughts
P2P trading is still one of the easiest ways to buy and sell crypto in Pakistan, but scams are on the rise. My experience shows that even if you follow the rules, scammers can file disputes to trap you. Binance tries to help, but support takes time, while banks provide little assistance.
To all traders: **be vigilant, stay documented, and never compromise on security.** Don’t let a scammer turn your honest trade into a nightmare.
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Peer-to-Peer (P2P) trading is one of the most popular ways to buy and sell crypto in Pakistan. It offers fast transactions, good rates, and easy access. But recently, I became a victim of a **P2P scam** that not only froze my funds but also blocked my bank account. I am sharing this story so other traders can stay alert and avoid the mistakes I made.