Most of these victims are from Pakistan. Binance should ban such profiles for lifetime and as well as intimate other platforms for compliance. In addition, they should force respective government to arrest such individuals.

As a Binance user, you need to be aware of the chargeback scams that are becoming increasingly common in peer-to-peer (P2P) transactions. A chargeback scam occurs when a buyer purchases cryptocurrency from a seller and then disputes the transaction with their bank, claiming it was a mistake or unauthorized. The bank reverses the payment, leaving the seller with a loss ¹.
How to Protect Yourself:
- Verify Payments: Always confirm payments directly through your bank account or digital wallet. Don't rely on screenshots or SMS confirmations.
- Use Secure Payment Methods: Prefer payment methods that are less prone to chargebacks, such as bank transfers and wire transfers.
- Document Everything: Keep records of all transactions and communications, including payment confirmations, chat history, and transaction IDs ² ¹.
What to Do If You're a Victim:
- Report to Binance: If you've fallen victim to a chargeback scam, report it to Binance immediately. When filing a report, select "payment received but incorrect" and provide evidence such as bank statements and chat logs.
- Contact Binance Support: Reach out to Binance's support team for assistance. They may be able to help you resolve the issue or provide guidance on how to proceed ³.
Tips for Safe P2P Trading:
- Trade with Verified Users: Only trade with users who have a high completion rate and positive feedback on their transaction history.
- Use Third-Party Escrow Services: Consider using additional third-party escrow services specializing in high-value transactions.
- Monitor Transactions: Be vigilant about unusual or large transactions that might indicate money laundering activities ².
Stay safe and cautious when dealing