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Binance P2P Scams in Pakistan: Protect Yourself

P2P trading on Binance is popular in Pakistan, but scams are rising. Common scams include:

Cancellation After Payment: Sellers cancel orders after getting paid.

Blocked Accounts: Sellers' accounts are frozen due to suspicion of fraud.

Proof of Payment Scams: Fake payment proofs are used to trick sellers.

SMS Scams: Fake SMS messages lure victims into sharing information.

Chargeback Scams: Buyers reverse payments after receiving crypto.

Man-in-the-Middle Scams: Scammers intercept and manipulate communications.

Protect Yourself:

Verify: Check the other party's history and ratings. Only chat within Binance P2P.

Secure Payments: Use trusted methods.

Double-Check Details: Review payment info carefully.

Beware of Unrealistic Offers: If it's too good to be true, it probably is..

Use Escrow: Binance's escrow adds security.

Report: Report any suspicious activity to Binance.

Stay Informed: Keep up with the latest scams.

Trust Your Instincts: Cancel if something feels wrong..

Additional Tips:.

Educate Yourself: Learn about P2P trading.

Start Small: Gain experience with smaller trades.

Avoid Sharing Personal Info: Don't share sensitive details outside Binance.

Use Strong Passwords & 2FA: Secure your account.

Binance & Authorities:

Binance should take action to address these scams, such as stricter verification and user education.

Collaboration with Pakistani authorities is key to combating fraud

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Be cautious and aware when trading on Binance P2P. By following these tips, you can enjoy a safer trading experience.

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