šØ Beware of P2P scams on Binance! šØ
Scammers are becoming more cunning on person-to-person platforms! Hereās how they operate:
ā ļø 1. Fake Payment Proof (Receipt Scam)
Scam Tactic: The scammer sends a fake payment receipt. Trap: They pressure you to release cryptocurrency without verifying the payment.
ā ļø 2. Chargeback Fraud (Reversed Payment)
Scam Tactic: Payment is made using a reversible method (e.g., PayPal). Trap: After receiving the cryptocurrency, they initiate a chargeback, reversing the payment.
ā ļø 3. Third-Party Payment Scam
Scam Tactic: Payment is made using a stolen bank account. Trap: The true owner of the account, leading to frozen funds or legal issues.
ā ļø 4. Overpayment Scam
Scam Tactic: The buyer "accidentally" overpays and requests a refund to another account. Trap: The original payment is reversed, and the scammer keeps the refund.
ā ļø 5. Fake Dispute Scam
Scam Tactic: The scammer falsely claims they did not receive the cryptocurrency. Trap: Without solid evidence, Binance may lean in favor of the scammer.
š How to Protect Yourself:
ā
Use Binance's Escrow System ā Never release cryptocurrency without confirming the actual payment.
ā
Verify Transactions Independently ā Check directly with your bank or wallet.
ā
Avoid Third-Party Payments ā Only accept payments from accounts that match the buyer's name.
ā
Be Cautious with Reversible Payments ā Prefer instant and final payment methods.
šØ Stay Alert and Trade Safely! šØ
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