Peer-to-Peer (P2P) scams in Binance or any other platform typically involve fraudulent activities where scammers exploit the P2P trading system to deceive users. Here's how it commonly happens:
1. **Fake Payment Proof**: Scammers may send fake payment confirmations, such as doctored screenshots or fraudulent transaction IDs, to make it appear that they've completed the payment. The victim, believing the payment has been made, releases the cryptocurrency to the scammer.
2. **Reversal of Payment**: After the victim releases the cryptocurrency, the scammer may use a stolen bank account or credit card to make the payment. Once the true owner of the account realizes the unauthorized transaction, they initiate a chargeback, leaving the victim without their cryptocurrency or the payment.
3. **Impersonation**: Scammers sometimes impersonate Binance support or other trusted figures within the platform to trick users into releasing funds or providing sensitive information.
4. **Overpayment Scam**: A scammer might overpay for the cryptocurrency and then request the victim to return the excess amount. After the victim returns the money, the scammer reverses the initial payment, resulting in a double loss for the victim.
5. **Fake Appeals**: A scammer may lodge a fake dispute or appeal within Binance after receiving the cryptocurrency, claiming they didn't receive it or that there was an issue with the transaction. This can lead to a prolonged dispute process where the victim might lose out if not careful.
### How to Protect Yourself:
- **Verify Payments**: Always ensure that you have received the payment in your bank account or wallet before releasing cryptocurrency.
- **Be Cautious with New Users**: Check the trading history and reputation of the person you're trading with.
- **Use Binance's Escrow Service**: This service holds the cryptocurrency in escrow until both parties confirm the transaction is complete.
- **Avoid Direct Contact**: Keep all communications within the Binance platform to have a record in case of disputes.
