Anmol Bushra

Binance Trading Fraud — What we Need to Know (P2P Focus)
Scammers are getting smarter — especially in Binance P2P trades.
Here’s a breakdown of the most common scams, real-life examples, and how to stay safe.
1️⃣ Common Fraud Types
A) Fake Payment Proof
How it works:
you sell USDT on Binance P2P.
Buyer sends a fake payment screenshot — but never actually transfers money.
If you release crypto without checking your bank, it’s gone.
Example:
Buyer shows you a “bank transfer” of PKR 50,000. Later you find nothing in your account.
Precaution:
Always confirm the funds in your bank account, not just a screenshot.
Communicate only in Binance chat (recorded for disputes).
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B) Chargeback Scam
How it works:
Buyer pays via reversible methods (PayPal, card).
After you release USDT, they reverse the payment through their bank or payment service.
Example:
Buyer claims “unauthorized transaction” on PayPal — money refunded to them, you lose both cash and crypto.
Precaution:
Avoid reversible payment options.
Prefer verified direct bank transfers.
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C) Off-Platform Deals
How it works:
Buyer suggests moving the deal to WhatsApp/Telegram for “better price” or “no fees.”
They vanish with your crypto — no Binance protection.
Example:
You agree to trade outside Binance. Buyer blocks you after receiving your USDT.
Precaution:
Never trade outside Binance escrow.
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D) Overpayment Trap
How it works:
Buyer “accidentally” sends extra money and asks for a refund.
Later, their original payment is reversed — you lose your own money.
Example:
You sell USDT for PKR 50,000, they send PKR 70,000 and request PKR 20,000 back. Bank reverses the 70K, leaving you down 20K.
Precaution:
Don’t refund until funds are confirmed genuine & irreversible.
If overpaid, contact Binance Support.
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E) Phishing & Account Takeover
How it works:
Scammers send fake Binance login links or emails.
You enter your details, they take over your account and withdraw funds.
Example:
Email says “Your account is at risk, click here to secure it.” The link is fake.
Precaution:
Check URL is binance.com.
Enable Google Authenticator 2FA.
Never click unknown links.
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F) Pump & Dump Groups
How it works:
Groups claim to know coins that will “moon.”
Price pumps briefly, then insiders dump — price crashes.
Example:
You buy a coin at $1.50 on group advice, minutes later it drops to $0.30.
Precaution:
Avoid hype & “secret signal” groups.
Do your own research.
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🛡 Golden Safety Rules
✅ Trade only inside Binance escrow.
✅ Confirm money in your bank account before releasing crypto.
✅ Avoid PayPal & other reversible payments.
✅ Enable 2FA & withdrawal whitelist.
✅ Keep communication inside Binance chat.
✅ Don’t fall for “too good to be true” deals.
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If you want, I can also make this into a simple infographic visual so people can understand these scams quickly without reading too much text. That would make it more shareable for social media.