Binance P2P has become a go-to platform for crypto trading in Pakistan — but it’s also attracting scammers who prey on new or careless users. Each week, more traders report getting scammed, losing money, or facing frozen bank accounts.
Here’s how these scams typically happen — and how you can keep yourself safe. 👇
🔍 What’s Going On
Binance P2P (peer-to-peer) allows users to trade crypto directly via local bank transfers. While Binance uses an escrow system for protection, scammers are finding new ways to cheat users — especially when deals move outside Binance’s official chat or payment process.
⚠️ Common P2P Scams in Pakistan
1️⃣ Fake Payment Proof
The scammer sends you a screenshot of a fake transfer and urges you to release crypto quickly.
➡️ Never trust screenshots — confirm funds directly in your bank account.
2️⃣ Third-Party Account Trick
They send payment from a different person’s account. Later, when the real owner disputes the transaction, your account could be frozen.
➡️ Only accept payments from accounts matching the buyer’s Binance name.
3️⃣ Overpayment Trap
They “accidentally” send extra money and ask for a refund. Soon, the first payment is reversed — you lose both the crypto and the refund.
➡️ Never refund without contacting Binance support first.
4️⃣ Off-Platform Deals
Fraudsters message you on Telegram or WhatsApp offering better rates outside Binance. Once you send crypto, they vanish.
➡️ All trades and chats must stay within Binance to be protected.
5️⃣ Account Freeze Scam
Some payments come from stolen or hacked bank accounts. When reported, your account can get blocked — even if you’re innocent.
➡️ Avoid suspicious or high-risk trades, and verify users before dealing.
🚫 Real Incidents in Pakistan
Local traders on Reddit and Telegram have shared multiple cases of:
Accounts frozen after receiving payments from unknown or third-party sources.
Users losing large sums after releasing crypto too early.
Scammers using stolen identities to appear as verified traders.
✅ How to Protect Yourself
1️⃣ Confirm funds in your bank before releasing crypto.
2️⃣ Only accept payments from accounts in the buyer’s name.
3️⃣ Keep all conversations inside Binance.
4️⃣ Report suspicious activity using Binance’s built-in reporting tools.
5️⃣ Trade with verified, high-rating merchants.
6️⃣ Keep detailed records — chats, receipts, payment proofs.
7️⃣ Don’t refund any “accidental” transfers without contacting support.
🧠 Final Word
Binance P2P can be safe — if you follow the rules.
Scammers rely on urgency and misplaced trust. Stay patient, verify everything, and don’t release crypto until funds are confirmed.
💬 Trade smart, stay alert, and protect your assets.
