Scammers are getting smarter, and their latest scheme targets P2P transactions on Binance. Donât let your hard-earned crypto fall into their trap! Hereâs the scam playbook theyâre using and how you can protect yourself.
How the Scam Works
1ïžâŁ The Seemingly Smooth Trade
You sell crypto through Binance P2P, and the buyerâs payment arrives in your bank account. Everything appears to go smoothlyâuntil it doesnât.
2ïžâŁ The Fraudulent Dispute
Days later, the buyer contacts their bank, claiming the payment was fraudulent. Exploiting banking system loopholes, they reverse the transactionâleaving you with no payment and your crypto gone.
3ïžâŁ 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 âhelpâ resolve the issue. Theyâll demand you return the money they sent to âunlockâ your account.
4ïžâŁ The Real Trap
Feeling pressuredâespecially if you have more money tied up in your accountâyou might feel forced to comply. This is how scammers trap victims and repeat the process.
The Growing Threat
This scam isnât isolated. Reports are pouring in from Binance users and crypto communities. At least 15 Peoples are victimized already fallen prey. If itâs happening to them, it could happen to you.
Stay Safe: 3 Simple Steps đ
Avoid falling victim by following these steps:
1ïžâŁ Trade with Trusted Buyers
âą Only sell to buyers with a completion rate above 95%.
âą Ensure theyâve completed at least 1,000 trades.
2ïžâŁ Read the Reviews
âą Negative reviews reveal the truth. Look for claims of scams or disputes and steer clear of shady buyers.
3ïžâŁ Double-Check Terms
âą Pay attention to their conditions before proceeding. If something seems off, walk away.
Spread the Word đŁïž
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.