I want to shed some light on a troubling issue I've encountered with P2P trades recently, especially for those of us dealing in crypto-to-fiat exchanges. On August 26, 2024, I successfully completed a P2P sell orderโeverything appeared legitimate. The buyer completed the fiat payment, which I verified in my bank account, and I proceeded to release the USDT to them.
However, just two days later, I was taken aback to find a portion of my funds frozen by the bank. Concerned, I contacted customer support, only to learn that my account was flagged due to a cyber-crime report. Frustratingly, the bank couldn't provide any details on who filed the complaint or the nature of the issue. I started reviewing my recent transactions and quickly suspected the recent P2P transaction on Binance. A deeper look at the buyer's profile revealed that several others had faced similar freezes after trading with this buyer.
At this point, my funds remain on hold, and I have no clarity on if or when they'll be released. Unfortunately, it seems some users exploit this loophole, potentially filing complaints or reversing fiat transactions after receiving crypto. This experience has made me realize the importance of verifying users before engaging in P2P trades.
I'm calling on Binance to address these issues with a permanent solution to safeguard traders from such scams. Has anyone else faced a similar situation, and if so, what steps did you take to resolve it? Let's share insights on the best ways to handle these unfair account freezes.