Beware of Chargeback Scams on Binance P2P! 🚨

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#StaySafeCryptoCommunity #safteyfirst #ScamAwareness #SCAMalerts