P2P was created for you to 'peer-to-peer', freely trade without intermediaries. Sounds fancy, but in reality? Many times it feels like shaking hands with the devil – and you only realize when your wallet feels lighter.
Binance and major exchanges always set up firewalls to protect users, but scammers are always creative, tirelessly finding ways to turn traders into 'unwilling philanthropists'.
Let's point out the most common scam tricks in P2P, how they operate, and how to avoid them. After reading, you will understand why you must stay alert every second during transactions.
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🎭 The 'peak' P2P scams
1. Fake money transfer receipt – a masterful Photoshop job
Scammer sends screenshots or PDF bank transfers that look 'very real'.
The victim thinks the money has arrived, clicks to release coins → waits a lifetime, but never sees the money.
Lesson: Never trust 'virtual' documents. Only trust the balance in your own bank account.
2. The 'friendly' buyer then vanishes
Initially sweet messaging: 'Hey, I'll transfer in 2 minutes, trust me.'
The victim believes, releases coins first → the buyer disappears faster than the exchange crashes.
Lesson: In P2P, politeness does not convert to money. Only real money is trustworthy.
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3. Chargeback trick – 'get the money back'
The buyer uses a payment method that can be refunded (PayPal, e-wallet).
After receiving coins, he notifies the bank: 'Illegal transaction, refund my money!'
The bank refunds → you lose everything.
Lesson: Only use non-reversible payment methods.
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4. Excess transfer trap – 'unexpected kindness'
He mistakenly sent $1,000 instead of $100, then urgently asks for a refund of the excess.
You 'sympathetically' return the money → a few days later, the bank reports the original transaction as dirty money → you lose everything.
Lesson: Rarely does someone transfer incorrectly with good intentions. This is a trap.
5. Money from a strange account – a legal scam
Coins are nowhere to be seen, but money has arrived from a strange account.
A few weeks later, the police knock: 'Are you involved in money laundering?'
Coins are frozen, and you become 'the supporting actor in a crime film'.
Lesson: Only accept money from the verified buyer's name.
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6. Time pressure – a rapid urgency tactic
'Hurry up bro, I'm busy, just release the coins now!'
Under pressure, the victim quickly releases coins → the scammer smirks.
7. Tempting to trade off-exchange – 'avoid fees, trade fast'
Sweetly luring you outside: 'Don't trade in the app, it's too expensive, transfer directly for a faster transaction.'
And just after one transfer, you officially step out of the exchange's protection → the scammer reveals themselves.
🛡️ How to avoid – The vital rules
1. Always check the money directly in the account, do not trust screenshots.
2. Absolutely do not release coins before receiving real money.
3. Using non-refundable payment methods.
4. Say no to excess transfers.
5. Ensure the person transferring money = the buyer on the exchange.
6. Stay calm under all time pressures.
7. Do not trade off-exchange.
8. Keep complete transaction evidence.
👉 Ask yourself: Am I a vigilant trader, or a mobile ATM with no fees? 😏