Binance P2P has become a popular platform for crypto trading in Pakistan, but it has also attracted scammers exploiting the system. Reports of fraudulent activities are increasing, with users losing funds, facing frozen bank accounts, and falling victim to fake payment schemes.
🔍 How Binance P2P Works
Binance P2P allows users to buy and sell cryptocurrencies directly using local bank transfers. The platform's escrow system holds the crypto until both parties confirm the transaction, providing a layer of security. However, scammers are finding ways to exploit users who step outside the official chat or payment flows.
⚠️ Common P2P Scams in Pakistan
1️⃣ Fake Payment Proof Scam
Scammers send screenshots of fake bank transfers and pressure you to release the crypto. Always verify funds directly in your bank account before clicking “release.”
2️⃣ Third-Party Bank Scam
Someone offers you a “better rate” on Telegram or WhatsApp. Once you send the crypto, they vanish — no Binance support, no recovery.
3️⃣ Overpayment Trap
They “accidentally” send extra money and ask for a refund. Soon after, the original payment is reversed — you lose both your crypto and refund.
4️⃣ Off-Platform Scam
They contact you on Telegram or WhatsApp, offering better rates if you deal outside Binance. Once you send crypto, they disappear — no support, no recovery.
5️⃣ Account Freeze Fraud
Some scammers use stolen bank accounts for payment. When the real owner reports it, your bank account gets frozen for investigation — even if you're innocent.
🧾 Real Cases from Pakistan
Users on Reddit and Telegram have shared stories where bank accounts were blocked after P2P trades.
Some traders lost thousands of PKR after releasing crypto before funds were verified.
Others were scammed by “verified-looking” traders using stolen identity documents.
✅ How to Stay Safe
1️⃣ Always verify payment in your bank account before releasing crypto.
2️⃣ Never accept third-party payments — name must match the buyer’s Binance name.
3️⃣ Avoid off-platform chats; keep all messages inside Binance.
4️⃣ Report suspicious users immediately through Binance’s “Report” option.
5️⃣ Trade only with trusted merchants with high completion rates & verified badges.
6️⃣ Keep transaction records — chat screenshots, payment proofs, and receipts.
🧠 Final Thoughts
Binance P2P is safe only if you follow the rules. Scammers are smart — they exploit trust and rush you into mistakes. Stay calm, double-check everything, and never release crypto until payment is fully confirmed in your account.
💬 Stay alert, stay safe, and trade smart!