Personal Experience of a Friend with P2P Scam: The Pain of Losing Both Money and Cryptocurrency, 6 Tips to Avoid Scams

Recently, a friend fell victim to a scam in a cryptocurrency P2P transaction: After the buyer placed an order, he saw 9500 rupees deposited into his bank account and released USDT. However, 2 hours later, the money was frozen by the bank (labeled as cybercrime). He couldn't reach the buyer, and platform appeals required the buyer to refund. In the end, he lost both money and cryptocurrency.

In fact, this type of scam can be avoided by remembering these 6 points:

Strictly Verify Payment Source: Only accept payments from the buyer's own account that is real-name authenticated on the P2P platform. The name must match the platform information to avoid the 'involved funds' being frozen.

Don't Trust UPI Screenshots: Screenshots can be faked, and transfers can be reversed. Be sure to wait for the bank to issue a 'funds cannot be reversed' notification before releasing cryptocurrency.

Wait 15-30 Minutes After Receipt: Even if it shows that the funds have arrived, leave an observation period to confirm that the funds are normal to prevent 'money freezing immediately after releasing cryptocurrency'. Stay on the platform throughout: Communication and transactions should all be done within the P2P platform. Keep chat records and transaction vouchers for subsequent rights protection. New buyers should try small amounts first: Do small amount transactions first with unfamiliar buyers for testing, and then discuss large amounts to reduce the risk of single losses. Stop if something is wrong: If the buyer is in a hurry or the information is vague, never release cryptocurrency before you are completely sure. Don't be overly optimistic.

Don't be quick in P2P transactions. Be more cautious and avoid the regret of 'losing both money and cryptocurrency'. Follow me to get more transaction avoidance tips.

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