Scammers are getting smarter, and their latest scheme targets P2P transactions on Binance. Don’t let your hard-earned crypto fall into their trap! Here’s the scam playbook they’re using and how you can protect yourself.
How the Scam Works
1️⃣ The Seemingly Smooth Trade
You sell crypto through Binance P2P, and the buyer’s payment arrives in your bank account. Everything appears to go smoothly—until it doesn’t.
2️⃣ The Fraudulent Dispute
Days later, the buyer contacts their bank, claiming the payment was fraudulent. Exploiting banking system loopholes, they reverse the transaction—leaving you with no payment and your crypto gone.
3️⃣ Account Blocked
The bank freezes your account without notifying you, making it impossible to access your funds. The scammer then contacts you directly, pretending to “help” resolve the issue. They’ll demand you return the money they sent to “unlock” your account.
4️⃣ The Real Trap
Feeling pressured—especially if you have more money tied up in your account—you might feel forced to comply. This is how scammers trap victims and repeat the process.
The Growing Threat
This scam isn’t isolated. Reports are pouring in from Binance users and crypto communities. At least 15 Peoples are victimized already fallen prey. If it’s happening to them, it could happen to you.
Stay Safe: 3 Simple Steps 🔒
Avoid falling victim by following these steps:
1️⃣ Trade with Trusted Buyers
• Only sell to buyers with a completion rate above 95%.
• Ensure they’ve completed at least 1,000 trades.
2️⃣ Read the Reviews
• Negative reviews reveal the truth. Look for claims of scams or disputes and steer clear of shady buyers.
3️⃣ Double-Check Terms
• Pay attention to their conditions before proceeding. If something seems off, walk away.
Spread the Word 🗣️
Have you or someone you know been scammed in a Binance P2P trade? Share your story below. Your experience could prevent someone else from falling victim.
Stay vigilant, trade smart, and protect your crypto! Together, we can outsmart the scammers.