“How I Lost $500 in a Binance P2P Scam – And What You Need to Know”

It started as a normal transaction. I put $500 USDT in Binance P2P, found a buyer with a good rating, and accepted the order. Within minutes, it was marked as “Paid” and they sent me a screenshot of the payment via WhatsApp — everything seemed legitimate.

But something felt off.

The bank transfer looked strange — the name didn’t match, and the reference said “refund.” Before I could figure it out, my bank account was frozen due to a suspicious transaction marked as possible fraud.

It turns out the scammer used stolen or fake bank funds to “pay me,” tricking the system. By the time I realized it, Binance released my USDT because I didn’t appeal in time. I lost $500 — and was locked out of my own money.

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Lesson:

• Never trust external screenshots.

• Always verify that the name and payment method match exactly.

• Only use Binance's chat, and never release cryptocurrency unless your bank confirms a secure credit.

Stay alert. Don’t learn the hard way like I did.

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