$BNB
Security Advisory: Rising Binance P2P Scam – Stay Vigilant
As cryptocurrency adoption continues to rise, so do the risks associated with fraudulent activity. A concerning trend has emerged on Binance’s peer-to-peer (P2P) trading platform, where scammers are exploiting the system to deceive users into releasing digital assets without receiving legitimate payment.
Modus Operandi:
Fraudsters manipulate the P2P feature by presenting fake payment confirmations, initiating reversible bank transfers, or using compromised bank accounts. These tactics create the illusion of payment to pressure sellers into prematurely releasing their crypto assets.
Example Incident:
A seller lists USDT on Binance P2P. The buyer submits a fabricated payment receipt and urges the seller to release the funds. Shortly after the transaction is completed, the buyer initiates a bank reversal. The seller is left without both the funds and the cryptocurrency.
Why This Scam Persists:
Overreliance on Binance’s secure trading environment
Emotional manipulation and urgency tactics by scammers
Failure to confirm cleared funds before releasing crypto
Protective Measures:
Always verify that payments have fully cleared in your bank account before releasing any assets
Be cautious of buyers who create a sense of urgency or exert pressure
Enable two-factor authentication (2FA) for added security
Use only verified and trusted payment methods
Report suspicious activity immediately through Binance’s support channels
Remain cautious, informed, and proactive when engaging in P2P trades. If you or someone you know has encountered such a scam, consider sharing the experience to help protect others within the crypto community.
