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P2P (peer-to-peer) trading on Binance has been a productive way for me to earn profits. However, a recent transaction has led to both my Jio Payments Bank and ICICI Bank accounts being frozen, leaving me in a helpless situation. Despite my efforts to resolve the issue, conflicting information and bureaucratic hurdles have made the process increasingly frustrating.

What Happened?

Here’s the full breakdown of the issue:

1. I completed a trade on Binance P2P, receiving ₹7,100 into my Jio Payments Bank account (Account No: 70000000928086, IFSC: JIOP0000001).

2. I then internally transferred the same amount of ₹7,100 to my ICICI Bank account (Account No: 128001000806, IFSC: ICIC0001280).

3. Shortly after, I discovered both accounts were frozen due to a cyber department complaint related to this transaction.

4. Both banks provided the same complaint acknowledgment number, but when I contacted the cyber department:

They informed me the Jio Payments Bank account was frozen by the cybercrime unit in Chandigarh.

The ICICI Bank account was frozen by the cybercrime unit in Haryana.

This discrepancy in jurisdictions, combined with the identical complaint number, has left me stuck. Both accounts remain inaccessible, and I’ve been unable to unfreeze them despite providing all trade details and cooperating fully with the banks and authorities.

Challenges I’m Facing

1. Inconsistent Information: Two cyber departments are claiming jurisdiction, but both share the same complaint acknowledgment number, causing confusion.

2. Frozen Accounts: With both accounts frozen, I’m unable to access my funds or continue trading.

3. Lack of Resolution: Neither the banks nor the cybercrime units have provided clear steps or timelines for resolving the issue.

4. Emotional and Financial Stress: Being unable to use my accounts has disrupted my trading activities and created significant stress.

Lessons for Other P2P Traders

This experience highlights the risks of P2P trading and the importance of extra precautions:

1. Avoid Internal Transfers: If possible, avoid transferring funds between accounts, as it can complicate investigations.

2. Keep Detailed Records: Save transaction proofs, chat logs, and all relevant documentation to defend the legitimacy of your trades.

3. Communicate with Authorities: If your accounts are frozen, try to get clear jurisdiction details and engage legal support if necessary.

4. Be Prepared for Delays: Understand that resolving such issues can take time, so have contingency plans in place.

Moving Forward

I am currently exploring every possible option to resolve this issue, including:

Reaching out to higher authorities for clarity on the conflicting complaint details.

Consulting legal professionals for guidance.

Cooperating fully with both banks and cyber departments to demonstrate my compliance.

This situation has been a harsh reminder of the complexities involved in P2P trading. While it has disrupted my activities, I hope sharing my experience will help other traders navigate similar issues more effectively.

For anyone trading in the P2P space, always be cautious, document every transaction, and prepare for potential challenges. With persistence, I believe this issue can be resolved, and I’m committed to sharing my lessons to ensure others can trade more securely.

#P2PScamAwareness #P2PScamWarning #P2PScamPrevention