Scammers are getting smarter, and their latest scheme targets P2P transactions on Binance. Donāt let your hard-earned crypto fall into their trap! Hereās the scam playbook theyāre using and how you can protect yourself.
How the Scam Works
1ļøā£ The Seemingly Smooth Trade
You sell crypto through Binance P2P, and the buyerās payment arrives in your bank account. Everything appears to go smoothlyāuntil it doesnāt.
2ļøā£ The Fraudulent Dispute
Days later, the buyer contacts their bank, claiming the payment was fraudulent. Exploiting banking system loopholes, they reverse the transactionāleaving you with no payment and your crypto gone.
3ļøā£ Account Blocked
The bank freezes your account without notifying you, making it impossible to access your funds. The scammer then contacts you directly, pretending to āhelpā resolve the issue. Theyāll demand you return the money they sent to āunlockā your account.
4ļøā£ The Real Trap
Feeling pressuredāespecially if you have more money tied up in your accountāyou might feel forced to comply. This is how scammers trap victims and repeat the process.
The Growing Threat
This scam isnāt isolated. Reports are pouring in from Binance users and crypto communities. At least 15 Peoples are victimized already fallen prey. If itās happening to them, it could happen to you.
Stay Safe: 3 Simple Steps š
Avoid falling victim by following these steps:
1ļøā£ Trade with Trusted Buyers
ā¢ Only sell to buyers with a completion rate above 95%.
ā¢ Ensure theyāve completed at least 1,000 trades.
2ļøā£ Read the Reviews
ā¢ Negative reviews reveal the truth. Look for claims of scams or disputes and steer clear of shady buyers.
3ļøā£ Double-Check Terms
ā¢ Pay attention to their conditions before proceeding. If something seems off, walk away.
Spread the Word š£ļø
Have you or someone you know been scammed in a Binance P2P trade? Share your story below. Your experience could prevent someone else from falling victim.
Stay vigilant, trade smart, and protect your crypto! Together, we can outsmart the scammers.