Scammers around the world are increasing their efforts to target USDT (Tether) sellers on P2P (peer-to-peer) platforms. No matter where you trade, the threat is real and it leaves cryptocurrency sellers vulnerable. Even if you transfer your funds quickly after selling, your account can still be blocked due to scam-related activities. Here’s what you need to know to protect yourself from these global cryptocurrency scams.

How the scam works

You initiate a trade on a P2P platform, feeling confident that everything is legitimate. But shortly after releasing the USDT, your account—and sometimes the buyer’s account—is blocked. This is no accident; it’s part of a coordinated scam called a “blockchain,” in which multiple accounts are blocked in a ripple effect.

Here's how scammers around the world are tricking sellers like you:

Common P2P Scams to Watch Out For

1. Fake payment proof

Scammers create convincing fake payment screenshots to trick the seller into thinking the funds have been transferred. You release your USDT based on this false evidence, only to later realize that no funds have entered your account.

2. Third Party Payments

Buyers may use a third-party bank account to make payments, leading to confusion and disputes. These third-party payments often result in fraud claims or chargebacks, leaving you without your cryptocurrency or money.

3. Reverse Payment

Even if the funds temporarily appear in your account, some payments are still reversed due to fraud, leaving you empty-handed after the USDT has been disbursed.

4. Bank transfer delay

A common tactic of scammers is to claim there is a “bank delay” and pressure you to release your USDT before the funds are released. When the USDT disappears, so do the scammers.

How to protect yourself

  • Wait for full confirmation: Always make sure your bank confirms the funds have been cleared before releasing USDT. Do not rely on screenshots or pressure from buyers.

  • Use verified platforms: Use trusted P2P platforms that are known for strong security features and good reputation.

  • Check Buyer Profiles: Only deal with buyers with high ratings, many transactions, and a positive track record. Avoid suspicious profiles or new accounts.

  • Beware of rushed deals: If the offer seems too good to be true or the buyer is rushing into the deal, take a step back. Scammers often push for a quick deal to catch you off guard.

Global impact and chain blocking

The scam doesn’t stop with you. These scammers cause a chain reaction, resulting in multiple accounts being frozen or blocked. Whether you’re in Asia, Europe, Africa, or anywhere else in the world, the tactics are the same. Protect yourself by staying informed and taking the necessary precautions.

What to do:

  • If you suspect you are being scammed, report it immediately to the platform and local authorities.

  • Stay informed about scams and spread the word to other traders.

  • The rise of P2P scams is a global problem and it is important to stay vigilant to protect your assets.

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