P2P trading is one of the easiest ways to buy and sell crypto, but it's also a space where scammers constantly develop new tactics. Recently I came across a payment request that didn't feel right and it reminded me how important it is to verify every detail before sending money.
The seller claimed they would create an IBAN under my name after KYC verification. At first it sounded convincing but there was one major issue the IBAN was not actually my personal bank account.
They then instructed me to transfer funds to that IBAN while entering my own name as the account holder or recipient.
That request immediately raised concerns.
If a payment dispute happens later your bank transfer receipt may show your own name but the account receiving the funds isn't really yours. This can create confusion and make it much harder to prove exactly where your money went if the transaction is challenged.
Instead of taking the risk I canceled the trade immediately.
From that experience I follow a simple rule
Only send money from a bank account that belongs to you.
Only transfer funds to the verified payment details displayed by the P2P platform.
Never accept payment instructions sent through chat that differ from the official order information.
If anything looks unusual or feels rushed cancel the order and contact the exchange's support team before proceeding.
Scammers often rely on confusion urgency or unfamiliar payment methods. A legitimate merchant should never pressure you into using payment details that don't match the information shown on the platform.
Protecting your funds is more important than completing a trade quickly. Spending a few extra minutes to verify the payment details can save you from losing your money.
Stay cautious double check every transaction and remember if something doesn't make sense don't send the payment.
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