🚀 Main Takeaways
This guide will help you:
✅ Identify and avoid common crypto scams in P2P markets, especially in developing countries.
🔍 Recognize fake payment proofs and handle chargeback scams effectively.
🛡️ Stay informed about various scam tactics and the steps to protect yourself.
At Binance P2P, your security is our priority. 🛡️ If you’ve encountered a scam or suspect fraudulent activity, continue reading to understand the most common scams and how to safeguard your transactions.
1️⃣ Fake Proof of Payment
This scam involves the counterparty sending a fake payment receipt 🧾 and pressuring you to release the crypto before verifying the payment in your account.
🔎 How to Spot Fake Payment Proofs:
🖋️ Inconsistent font sizes, styles, or colors.
🖼️ Superimposed or overlapping text.
📱 Outdated app UI or incorrect transaction details.
📊 Key Differences Between Fake and Genuine Proofs:
🔢 UPI Reference Numbers: Fake receipts often start with "1"; genuine ones usually begin with "2" or "3."
✏️ Font Consistency: Genuine proofs use uniform fonts for all details.
📱 UI Details: Genuine apps display updated UI elements, such as transaction history icons and correct alignment.
🔐 Action: Always confirm the payment in your bank account or wallet before releasing the crypto.
2️⃣ Paid but Canceled Scam
In this scam, a seller receives the buyer’s payment but refuses to release the crypto, citing technical issues or other excuses. 🛑 The seller then asks the buyer to cancel the order, promising a refund, but never follows through.
❌ How to Avoid This Scam:
🚫 Never cancel an order without receiving the refund first.
🛡️ If the seller delays releasing the crypto after payment confirmation, raise an appeal with Binance support.
3️⃣ Chargebacks
Chargebacks occur when a buyer reverses their payment after receiving the crypto, leaving the seller with a loss of both funds and assets. 💸
🛡️ How to Avoid Chargebacks:
🔒 Use secure payment methods that don’t allow chargebacks.
🕵️♂️ Verify your trade partner’s reputation and payment details.
📜 Specify in your ad that you don’t accept third-party payments.
🚫 Avoid proceeding with trades involving third-party payment methods.
📩 Action if Victimized: Contact Binance support and request a transaction receipt to report the case to authorities.
4️⃣ Binance CS Impersonation
Here, scammers impersonate Binance Customer Support 👨💻 to trick buyers into canceling orders after sharing personal details like phone numbers. 📞
🚨 How to Avoid This Scam:
🤐 Never share personal information with any counterparty.
📞 Remember, Binance support will never contact you via phone for order-related issues.
🛡️ Report suspicious activity immediately to Binance Live Chat Support or email at 📧 p2p@binance.com.
5️⃣ Triangle Scam
This scam involves two scammers working together. 🤝 One scammer posts a sell ad, while a genuine buyer makes a payment and shares proof externally. The scammer then uses this proof to convince Binance to release the crypto to a second scammer.
🛡️ How to Avoid This Scam:
📤 Share payment proof only within Binance P2P chat.
✅ Verify all transaction details directly on Binance.
💡 Final Thoughts
By following these guidelines, you can protect yourself from P2P scams:
🔍 Stay Vigilant: Always double-check payment details.
📲 Use Trusted Channels: Keep all communication within Binance P2P.
🛠️ Seek Support: If you encounter any suspicious behavior, contact Binance support for assistance.
Your security is crucial. 🌟 Together, let’s ensure a safe trading experience in the P2P crypto marketplace!