The P2P market on Binance offers great opportunities, but scammers are finding new ways to exploit traders. Here’s how their latest trick works and how you can protect your funds.
How the Scam Works: You complete a P2P trade and receive payment in your bank account without issues. Later, the scammer files a false claim with your bank, alleging the payment was unauthorized. Using loopholes in the banking system, they dispute the payment, causing your bank to freeze your account. Then they contact you, demanding a ransom to unblock it. Many victims feel forced to pay, losing more money in the process.
Protect Yourself: Trade only with verified buyers who have completed at least 1,000 orders with a 95%+ completion rate. Always read negative reviews for red flags and carefully check a buyer’s terms and conditions before confirming a trade.
Share Your Story: If you’ve experienced a P2P scam, share your story to help others stay safe. Protect your funds and trade smartly to avoid falling victim to these traps.
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