Be wary of off-exchange P2P services on social media

A user reported being scammed while attempting to exchange USDT for dollars via Zelle. Initially, the user made a test deposit of $1000. After this, the scammer claimed that the minimum required amount was $2000. The user then deposited an additional $1000, but after this second deposit, the scammer cut off all contact and blocked the user on Instagram.

How to Avoid Off-Exchange P2P Scams

1.Use Reputable Platforms: Conduct transactions through reputable exchanges that offer escrow services and protection against fraud.

2.Be Skeptical of Too-Good-To-Be-True Offers: If a P2P deal sounds too good to be true, it probably is. Exercise caution and perform due diligence.

3.Educate Yourself: Stay informed about common scams and how they operate. Knowledge is your best defense against fraud.