Alert Alert Alert Alertđ¨ â ď¸Binance (P2P)â ď¸ Scam In Pakistanâ ď¸
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Binance P2P disputes are on the rise in Pakistan, with three recent cases involving blocked accounts due to fraudulent activities. The common issue in these disputes was transactions occurring outside of Binance, resulting in fraud complaints and account blocks. To avoid similar complications, it's crucial to understand the root cause and take necessary precautions.
The Common Issue: Transactions Outside of Binance
In all three disputes, buyers engaged in transactions outside of Binance, received payments from other sources, and then bought USDT from the seller. They sold the USDT at a higher rate elsewhere, without verifying the source of funds or securing proof. This led to fraud complaints from the original fund senders, resulting in account blocks for both the buyers and the seller.
The Consequences: Account Blocks and Reversed Payments
In one case, the issue was resolved after an investigation, and the payment was credited back to the seller's account. However, in the other two disputes, the buyers did not resolve the issues, and the seller had to reverse the payments. This highlights the importance of ensuring secure transactions and collecting necessary evidence to avoid disputes
How to Avoid Disputes: Collect Necessary Evidence
To protect your account and ensure secure transactions on Binance P2P, follow these steps
- Obtain a video statement from the buyer
- Get the buyer's mobile number
- Request a video of the buyer's transaction history from the last 24 hours
- If the payment comes into their account, request the CNIC of the sender
- Cancel the trade if necessary
By following these steps, you can avoid complications similar to those experienced in the recent disputes
Stay Vigilant and Secure Your Transactions
Binance has strong security measures in place, but some users still attempt to buy USDT from Binance and sell it outside the platform. Stay vigilant, collect all necessary evidence, and ensure safer transactions to protect your account and avoid disputes
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