P2P (Peer-to-Peer) Scams on Binance:
🎯1. Fake Sellers/Buyers: Scammers pretend to be sellers or buyers on Binance's P2P platform, offering attractive rates. Yet, they vanish without fulfilling the trade or providing the agreed funds.
🎯2. Impersonation: Scammers mimic genuine users on Binance, using similar usernames or profile images to deceive. They vanish post-trade, leaving victims in a lurch.
🎯3. Payment Fraud: Some scammers manipulate payments with false confirmations or reversible methods. Victims believe they've been paid, but the transaction is fake or reversible, leaving them empty-handed.
🎯4. Account Takeover: Scammers hijack real Binance accounts to execute trades. They trick users into sending funds to their wallets, posing as the genuine owner.
🎯5. Chargeback Fraud: Scammers exploit payment methods allowing chargebacks, like bank transfers. After receiving cryptocurrency, they reverse the payment, leaving sellers empty-handed.
👉Tips to Avoid P2P Scams:
1. Verify the Counterparty: Always confirm the identity and reputation of the other party before trading. Check their history, ratings, and profile details.
