๐ Main Takeaways
This guide will help you:
โ
Identify and avoid common crypto scams in P2P markets, especially in developing countries.
๐ Recognize fake payment proofs and handle chargeback scams effectively.
๐ก๏ธ Stay informed about various scam tactics and the steps to protect yourself.
At Binance P2P, your security is our priority. ๐ก๏ธ If youโve encountered a scam or suspect fraudulent activity, continue reading to understand the most common scams and how to safeguard your transactions.
1๏ธโฃ Fake Proof of Payment
This scam involves the counterparty sending a fake payment receipt ๐งพ and pressuring you to release the crypto before verifying the payment in your account.
๐ How to Spot Fake Payment Proofs:
๐๏ธ Inconsistent font sizes, styles, or colors.
๐ผ๏ธ Superimposed or overlapping text.
๐ฑ Outdated app UI or incorrect transaction details.
๐ Key Differences Between Fake and Genuine Proofs:
๐ข UPI Reference Numbers: Fake receipts often start with "1"; genuine ones usually begin with "2" or "3."
โ๏ธ Font Consistency: Genuine proofs use uniform fonts for all details.
๐ฑ UI Details: Genuine apps display updated UI elements, such as transaction history icons and correct alignment.
๐ Action: Always confirm the payment in your bank account or wallet before releasing the crypto.
2๏ธโฃ Paid but Canceled Scam
In this scam, a seller receives the buyerโs payment but refuses to release the crypto, citing technical issues or other excuses. ๐ The seller then asks the buyer to cancel the order, promising a refund, but never follows through.
โ How to Avoid This Scam:
๐ซ Never cancel an order without receiving the refund first.
๐ก๏ธ If the seller delays releasing the crypto after payment confirmation, raise an appeal with Binance support.
3๏ธโฃ Chargebacks
Chargebacks occur when a buyer reverses their payment after receiving the crypto, leaving the seller with a loss of both funds and assets. ๐ธ
๐ก๏ธ How to Avoid Chargebacks:
๐ Use secure payment methods that donโt allow chargebacks.
๐ต๏ธโโ๏ธ Verify your trade partnerโs reputation and payment details.
๐ Specify in your ad that you donโt accept third-party payments.
๐ซ Avoid proceeding with trades involving third-party payment methods.
๐ฉ Action if Victimized: Contact Binance support and request a transaction receipt to report the case to authorities.
4๏ธโฃ Binance CS Impersonation
Here, scammers impersonate Binance Customer Support ๐จโ๐ป to trick buyers into canceling orders after sharing personal details like phone numbers. ๐
๐จ How to Avoid This Scam:
๐ค Never share personal information with any counterparty.
๐ Remember, Binance support will never contact you via phone for order-related issues.
๐ก๏ธ Report suspicious activity immediately to Binance Live Chat Support or email at ๐ง p2p@binance.com.
5๏ธโฃ Triangle Scam
This scam involves two scammers working together. ๐ค 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.
๐ก๏ธ How to Avoid This Scam:
๐ค Share payment proof only within Binance P2P chat.
โ
Verify all transaction details directly on Binance.
๐ก Final Thoughts
By following these guidelines, you can protect yourself from P2P scams:
๐ Stay Vigilant: Always double-check payment details.
๐ฒ Use Trusted Channels: Keep all communication within Binance P2P.
๐ ๏ธ Seek Support: If you encounter any suspicious behavior, contact Binance support for assistance.
Your security is crucial. ๐ Together, letโs ensure a safe trading experience in the P2P crypto marketplace!