Issue on Binance in Pakistan

Many users in Pakistan have encountered a significant issue on Binance, where their accounts have been blocked due to three P2P forward disputes. These disputes did not arise from buyer complaints but were triggered because the buyers' accounts were blocked, causing a chain reaction.

Common Factors in Disputes

The disputes shared several common factors:

  • Buyers engaged in deals outside of Binance

  • Buyers received payments from third parties

  • Buyers purchased USDT from sellers

  • Buyers sold USDT at a higher rate elsewhere

In all three cases, the buyers were new to the platform and made transactions outside of Binance. They negotiated deals, received money from third parties, purchased USDT, and sold it without securing proof or sources of funds from those they transacted with. Subsequently, the original senders of the funds filed fraud complaints, resulting in the buyers' accounts being blocked and affecting many others.

Dispute Outcomes

In one dispute, after investigation, the payment was credited to the account as one buyer settled with the sender. However, in the remaining two cases, the buyers did not settle, leading to many people reversing the payments for the disputed transactions.

Binance's Security Measures

Binance implements robust security measures for merchants, but many users attempt to buy USDT from Binance and sell it outside the platform. To ensure safer transactions when selling on Binance P2P, many users obtain a video statement and the buyer's mobile number. The CNIC is less valuable in these cases. A video statement provides more substantial evidence of a legitimate transaction.

Safer Transaction Practices

To further enhance transaction safety, many users record a video of their transaction history from the last 24 hours. If a payment is received in their account, they request the CNIC of the person who sent the funds or cancel the trade. This approach is safer and helps avoid disputes.

Volatility of $NOT Coin

In addition to these issues, it's important to note that #NOT coin is showing volatility and is expected to skyrocket in the near future. This presents both an opportunity and a risk for investors.

Several coins have shown significant gains in the past 24 hours:

These coins are trending and could be worth watching for potential investment opportunities.

Conclusion

Taking these precautions will help protect many accounts and ensure more secure transactions on Binance P2P. It is crucial to stay vigilant and ensure all necessary evidence is collected to avoid the complications experienced by many users.

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