#P2PScamAwareness ⚠️ What Is a P2P Scam?

A P2P (Peer-to-Peer) scam happens when one party in a direct trade cheats the other—usually involving payment fraud, identity misuse, or fake proof of payment. Scammers exploit the trust-based nature of P2P platforms.

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🔍 Common P2P Scams & How to Spot Them

1. Fake Payment Confirmation

How it works: Buyer uploads a fake payment screenshot and pressures you to release crypto.

Red flag: Transaction not visible in your bank account despite the "proof."

✅ What to do: Always check your actual bank balance or app—not screenshots.

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2. Third-Party Payment Fraud

How it works: Scammer uses someone else’s bank/PayPal account (stolen or borrowed), then the real owner reverses the payment.

Red flag: Account name doesn’t match buyer’s Binance name.

✅ What to do: Only accept payments from names that match the verified Binance profile.

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3. Chargeback Fraud

How it works: Buyer pays, receives crypto, then files a chargeback or bank reversal.

Red flag: Happens days after release if using PayPal, Venmo, or credit card.

✅ What to do: Avoid reversible payment methods for P2P. Stick to bank transfer or other irreversible methods.

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4. Overpayment Trap

How it works: Buyer "accidentally" overpays and asks for a refund. Once refunded, they reverse the original payment too.

Red flag: Suspiciously large payment; asks for a partial refund fast.

✅ What to do: Never refund overpayments until fully verified. Contact platform support.

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5. Fake Identity / Impersonation

How it works: Scammer uses stolen KYC documents to create fake accounts.

Red flag: Multiple accounts with similar names, vague chat behavior, urgency.

✅ What to do: Trade only with users having strong reputation scores and verified status.