🚨 Warning: P2P Trading Scams on the Rise in India! 🇮🇳

The surge in P2P trading has led to a alarming increase in fraudulent activities, with scammers targeting personal and financial data or promising unrealistic profits. A recent incident in Ujjain, India, saw individuals arrested for a P2P scam involving fake accounts and documents on the Binance platform, duping users out of 1,500 Indian rupees ($18) each! 🤯

Scammers use fake crypto-focused Telegram channels to lure victims with promises of returns or airdrops, tricking them into sharing sensitive banking information. They then create P2P accounts on platforms like Binance and WazirX to execute scams, targeting sellers and disappearing with cryptocurrency after completing transactions. 📊

Victims often report to the police, leading to frozen bank accounts linked to scams, affecting unsuspecting traders on P2P platforms. In one case, a seller faced police intervention and threats due to a mere $40 transaction on WazirX, despite completing a legitimate P2P transaction! 😱

Resolving these issues involves complex processes and limited access to funds, causing significant challenges and fear among victims of P2P scams. Let's stay vigilant and aware! ❤️

Remember: Always do your own research, verify authenticity, and never share sensitive information with untrusted sources. Let's work together to create a safer crypto community! #ScamRiskWarning #P2PScam

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