The P2P cryptocurrency trading market in Vietnam is witnessing a sharp increase in scams targeting USDT sellers. If you are participating in trading, be extremely vigilant and familiar with the common scams below to protect your assets.
Common Forms of Fraud
1. Fake Payment Documents
Scammers send you fake screenshots of payment receipts or transfer confirmations, making you believe that money has been transferred to your account. In reality, the money never appeared in your account.
Advice:
Always check your bank account or e-wallet directly to make sure the money has actually arrived.
2. Third Party Transfer
Some buyers request payment from someone else's (third party) account, complicating the transaction. This may lead to claims or refunds, even after you have released your USDT.
Advice:
Only accept payments from accounts that match the buyer's information. If you find anything unusual, stop the transaction immediately.
3. Refund After Transaction
Sometimes funds will appear in your account, but then be refunded or revoked due to fraudulent transactions, such as using a stolen credit card or account. As a result, you lose both your funds and USDT.
Advice:
Wait at least 24 hours after receiving the funds to ensure the transaction is not refunded.
4. Bank Transfer Delay
Scammers often use bank problems or long processing times as an excuse, then pressure you into releasing your USDT before the funds actually hit your account.
Advice:
Never release USDT if the funds are not confirmed in your bank account.
Asset Protection Measures
Use a reputable and verified trading platform.
Choose P2P exchanges with seller protection mechanisms like Binance, Huobi or OKX. These exchanges often have an escrow feature, ensuring that USDT is only released when the transaction is complete.Double check buyer information.
Trade with users who have a good trading history, high ratings, and verified identities. Avoid trading with new accounts or accounts with many negative reviews.Keep calm, don't rush.
If someone is unusually urging you to release your USDT, stop and consider. Scammers often take advantage of impatience to lure you into their trap.Record all transactions.
Store evidence such as messages, receipts, and transaction information. This will help you when you need to report or request support from the trading platform.
What to Do When Being Scammed?
Report immediately to the trading platform.
Reputable P2P platforms all have a dispute resolution support team. Provide full evidence to receive timely support.Contact the bank.
If you detect fraudulent transactions involving your bank account, contact your bank immediately for assistance and block the transaction if necessary.Report to authorities.
In case of serious fraud, report to the economic police for investigation and protection of rights.
Conclude
P2P trading is convenient but also has many potential risks if you are not careful. Always follow safety rules, choose reputable partners and check carefully before making any transactions.
Keep your USDT safe, and stay vigilant! If you spot suspicious activity, don't hesitate to report it immediately.