A P2P scam on Binance typically involves fraudulent activity during peer-to-peer (P2P) crypto trading, where users buy or sell crypto directly with each other. Here's a short summary:

P2P Scam on Binance Summary:

Scammers exploit the P2P platform by tricking users during the transaction process. Common tactics include:

Fake payment confirmations: Scammer claims to have sent payment but hasn't.

Chargebacks: After receiving crypto, scammer reverses the bank transaction.

Impersonation: Using fake identities or posing as Binance support.

Third-party payments: Scammer uses someone else's bank details, leading to account freezes or disputes.

Protection Tips:

Only confirm release of crypto after verifying full payment.

Avoid third-party transactions.

Use Binance's chat and appeal features if anything feels off.

Let me know if you want a more detailed breakdown or examples.