Binance's P2P trading allows direct transactions between users, but unfortunately, this is also a hotspot for scammers. Here’s how these scams typically occur:
Common P2P scam types:
1. Fake payment proof: Scammers send fake payment confirmations to trick sellers into releasing cryptocurrency without verifying the payment.
2. Impersonation: Scammers impersonate trusted traders or Binance support to create false credibility and manipulate users into fraudulent transactions.
3. Refund scams: After completing a transaction, scammers will reverse their payment (refund) through methods like credit cards, retaining cryptocurrency.
4. Phishing attack: Scammers send spoofed emails from Binance or direct users to fake websites to steal login information and access accounts.
5. Too good to be true: Scammers offer attractive low exchange rates to lure users, only to manipulate transactions after they engage.
How to protect yourself:
Independent payment verification: Always verify your payment through the app or bank, not just through screenshots.
Enable additional security: Activate two-factor authentication (2FA) and anti-fraud codes to enhance protection.
Commit to Binance: Always trade directly on Binance; avoid external channels or connecting with third parties.
Report suspicious activity: Use Binance's built-in dispute resolution tools to quickly resolve issues.
By always staying vigilant and following these tips, you can reduce the risk of becoming a victim of peer-to-peer scams. For more tips, check out Binance's official security guide!
Stay safe and trade smart!