In recent events in Pakistan, an unsettling situation unfolded where an individual purchased USDT through Binance P2P from us. Armed with a CNIC picture and a mobile number, the buyer seemed legitimate, and the names on Binance and the bank matched perfectly. However, the following day, our bank account was frozen.

Upon contacting the bank, we were told the transaction's purpose was unclear. We provided the CNIC we received and a written statement explaining that we had provided services like software activation and Amazon gift cards. Later, the bank revealed that the sender had claimed someone offered him 10,000 Rs monthly to open an account and provide its details. This impoverished individual agreed, created a Binance account, and bought USDT. Unfortunately, the fraudster used this tactic with five different people. The bank advised us to refund the amount immediately for our safety, with a statement declaring we were unaware of the fund's source to protect ourselves.

The fraud targeted a businessman who filed an FIR. The police arrested the account holder, who revealed the scam's details, but the gang members remain at large.

Solution:

For P2P transactions on Binance, always request a video of the account statement covering the last seven days. If no payments have been received, proceed with the trade; otherwise, cancel it. This extra step ensures a safer trading experience.

Stay vigilant, and trade safely on Binance!

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