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I never thought I’d fall victim to a scam in the crypto space, especially while using a well-known platform like Binance P2P. But recently, I got caught in a scheme that I believe everyone needs to be warned about. This isn't just a random mishap—it's a calculated scam that targets unsuspecting users during the P2P trading process. I’m sharing my story so others don’t make the same mistake.
💥 What Happened to Me
I initiated a P2P trade to purchase crypto using fiat. Everything seemed normal at first. I selected a seller, placed the order, and sent the payment as instructed.
But before the seller released the crypto, they abruptly canceled the order.
Confused and alarmed, I checked the chat and tried to message them—but there was no response. The order had vanished from my history, and so had the seller. I had proof of payment, screenshots, bank records—everything. But the crypto was never released. Just like that, I was scammed.
🧠 How This Scam Works: The “Canceled Order After Payment” Trick
Here’s how the scam is executed:
The Setup: A scammer posts a P2P listing and engages with you as if it’s a normal transaction.
The Bait: You send fiat to their provided bank account.
The Switch: As soon as they receive your money, they cancel the order on Binance P2P.
The Escape: Because the order is canceled, the platform’s escrow is void. The crypto is never released, and the scammer disappears—blocking or ignoring your messages.
Without an active order, it becomes extremely difficult to dispute or trace the transaction within the system.
🚨 What You Should Do If This Happens
If you find yourself in this situation, act immediately:
Do NOT Send More Money
Sometimes scammers return with excuses—blaming system issues or glitches and asking for another payment. Don't fall for it.
Gather All Evidence
Take screenshots of:
Payment confirmation
Chat history
Bank transfer records
Order number (if you have it)
File a Dispute or Appeal on Binance
Even if the order was canceled, contact Binance Support right away. Include all your evidence. Binance has procedures for fraud reports, and acting quickly improves your chances of recovery.
Contact Your Bank Immediately
File a complaint or dispute the transaction with your bank. In some cases, you might be able to reverse the payment or initiate a fraud claim, especially if it's a local bank transfer.
🛡️ Stay Safe: Tips to Avoid This Scam
Double-Check Order Status: Only send payment if the order is still active. If you get disconnected or see anything suspicious, pause and verify before proceeding.
Never Deal Outside the Platform: Always use the Binance chat and never agree to "side deals" or changes in payment method.
Avoid Rushing: Scammers often use pressure tactics. Stay calm and take your time to verify everything.
This experience was a tough lesson for me, but I hope by sharing it, others can avoid falling into the same trap. Trust your instincts, and if anything feels off, don’t proceed with the trade.
Stay safe and trade smart.
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