⚠️ Protecting Yourself from P2P Scam on Binance: A Step-by-Step Guide ⚠️
*Understanding the Scam*
A new type of scam is emerging on Binance P2P, where scammers send money to buy USDT or other coins and then use a reversal request through the bank to withdraw the money after the coins are transferred. This leaves the seller with lost coins and no refund.
*How to Protect Yourself*
*1. Trade with Verified Buyers*
Only engage in P2P trades with buyers who have a verified status on Binance. Verified users are more likely to be legitimate traders.
*2. Check Bank SMS and App Transaction History*
Before confirming the payment, ensure you check your bank's SMS alerts and transaction history to verify the payment status. Look for any signs of suspicious transactions.
*3. Be Wary of Red Flags*
- *Unbelievably Low Prices*: If the price offered is significantly lower than the market rate, it could be a scam.
- *Urgency*: Scammers often pressure sellers to complete the transaction quickly. Be cautious of buyers who push for haste.
*4. Be Cautious of External Requests*
If a buyer asks for information outside of the Binance platform or suggests completing the transaction through other means, it’s a potential scam.
*5. Use the Appeal Option*
If you suspect a scam or notice any irregularities, don’t hesitate to use the appeal option on Binance. Report the issue to Binance support and follow their guidance.
*Best Practices*
- *Be Patient*: Avoid rushing into trades, especially with new or unverified buyers.
- *Avoid Risks*: One trade with a scammer can result in significant financial loss. Prioritize caution over potential gains from a single trade.
- *Stay Informed*: Keep yourself updated on the latest scam tactics and Binance’s security measures.
*Spread Awareness*
Share this information with others to help prevent them from falling victim to P2P scams. Awareness is key to protecting your assets and ensuring a safe trading experience.