A Costly Lesson in P2P Crypto Trading – What Every New User Must Know
Entering the world of cryptocurrency can be exciting, but it’s also a space where caution must be exercised — especially in peer-to-peer (P2P) transactions. As someone who was relatively new to Binance, I engaged in a P2P sale worth approximately $630 USDT, not realizing the potential risks involved. The buyer, operating under the username “24tranders,” transferred the equivalent of ₹265,000 PKR to my local bank accounts using three different names. What seemed like a successful transaction quickly turned into a nightmare.
In the aftermath, I was informed that the funds sent to me had originated from bank accounts allegedly compromised by the buyer. The real account holders, unaware of the transactions, reported the issue to the Federal Investigation Agency (FIA). As a result, my bank accounts — holding over ₹800,000 PKR — were frozen pending an investigation. Despite reaching out to my bank to inquire about the case's investigating officer, I have yet to receive any concrete information from the FIA.
This situation has been emotionally and financially distressing, and I wouldn’t wish it upon anyone. If you’re using Binance P2P or any similar platform, I urge you to only interact with users who carry a Verified Badge and a clear “Security Deposit” label on their profile. Furthermore, always ensure that the name on Binance matches the sender’s bank account name. This simple step could be the difference between a secure trade and a legal entanglement.
I’ve kept the phone numbers of the individuals whose accounts were used, but unfortunately, they believe I was involved in the hacking — which is entirely untrue. My only intent was to sell crypto in good faith. I share this story not for sympathy, but to help protect others from falling into the same trap. Please trade with caution and awareness.
