🛑🛑🛑 Urgent Security Alert for Binance P2P Users

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Recent incidents in Pakistan have highlighted a significant issue with Binance's P2P trading. Several users have faced account blocks due to disputes arising from buyers whose accounts were subsequently frozen. This problem stemmed from transactions that took place outside of Binance's platform. Specifically, buyers engaged in deals off-platform, received funds from external sources, purchased USDT from sellers, and then sold it elsewhere at a higher rate.

In these cases, buyers were often new to the platform and had not verified the source of their funds or secured proper proof of transactions. As a result, fraud complaints emerged from the original fund senders, leading to account blocks for both the buyers and the sellers. Although one dispute was resolved after an investigation confirmed the payment was legitimate, the other two disputes resulted in the need for payment reversals due to unresolved issues.

To protect yourself and your account on Binance P2P, it's crucial to adopt robust verification practices. Beyond just collecting a CNIC, ensure you obtain a video statement from the buyer and their mobile number to verify the transaction’s legitimacy. Additionally, recording a video of the buyer’s transaction history from the last 24 hours or requesting the sender’s CNIC can further safeguard against potential disputes. By following these measures, you can enhance transaction security and avoid complications similar to those recently encountered.

Stay alert and take these precautionary steps to ensure secure transactions and protect your account on Binance P2P.

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