How Peer-to-Peer (P2P) Scams Work on Binance and Other Platforms**

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P2P scams involve tricking users through the trading system. Here’s how these scams usually occur:

1. **Fake Payment Proof**: Scammers send fake proof of payment, like altered screenshots or fake transaction IDs, to make it look like they’ve paid. Believing the payment is complete, the victim releases the cryptocurrency, but the payment was never made.

2. **Payment Reversal**: After getting the cryptocurrency, the scammer may use a stolen bank account or credit card. When the real account owner notices the unauthorized transaction, they reverse it. This leaves the victim without their cryptocurrency and without the payment.

3. **Impersonation**: Scammers might pretend to be Binance support or other trusted figures to trick users into giving up funds or sensitive information.

4. **Overpayment Scam**: A scammer might overpay for the cryptocurrency and then ask for the extra amount back. Once the victim returns the excess, the scammer reverses the original payment, causing the victim to lose both the cryptocurrency and the returned money.

5. **Fake Disputes**: Scammers might file a fake dispute or appeal on Binance, claiming they didn’t receive the cryptocurrency or that there was a problem. This can lead to a lengthy dispute process where the victim might lose out.

### How to Protect Yourself:

- **Confirm Payments**: Make sure the payment is actually in your bank account or wallet before releasing the cryptocurrency.

- **Check User History**: Look at the trading history and reputation of the person you’re dealing with.

- **Use Escrow Services**: Binance’s escrow service holds the cryptocurrency until both parties confirm the deal is done.

- **Communicate Through the Platform**: Keep all communication within Binance to have a record in case of problems.

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See