P2P payments are a convenient and secure way to send and receive money online. But they also come with risks. Scammers are always looking for ways to trick you into giving them your money or your personal information.
In 2023, you need to be aware of these four major P2P scams, especially on Binance, one of the most popular platforms for crypto trading and payments.
Be a real IDAN. Don't get scammed.
1. Overpayment Scams
This scam is simple but effective. The scammer will send you a payment that is more than the amount you agreed on. They will then ask you to send them back the difference.
For example, if you are selling something for $100 and you are using #Binance P2P payment, they will send you $150 worth of #bitcoin or #ETH and ask you to refund them $50. Once you do that, they will reverse the original payment, leaving you with nothing. Impressive right?
How to Avoid
To avoid this scam, never accept overpayments from strangers.
If someone sends you more money than you expected, contact them and ask them to cancel the payment. Do not send any money back until you are sure that the payment is final and irreversible.
2. Fake Job Scams
This scam targets people who are looking for remote jobs online. The scammer will post a fake job listing on social media or job boards. Then they will contact you and offer you the job.
They will ask you to send them money for things like training or background checks and promise to reimburse you later. But once you send them the money, they will disappear and you will never hear from them again.
How to Avoid
To avoid this scam, never pay money upfront for a job opportunity.
Do your research on the company and the person who is hiring you. Check their website, social media accounts, and online reviews. If something seems too good to be true, it probably is.
3. Romance Scams
Everybody loves to be loved but not all is true love. This scam is designed to exploit your emotions and your desire for love.
The scammer will create a fake profile on a dating website or social media platform. They will then contact you and start a romantic relationship with you online. To make you feel special and loved, they will send you photos, messages, and gifts. Then they will ask you to do the same.
Once they have gained your trust, they will ask you for money for various reasons. It is usually money for medical bills, travel expenses, car repairs, or something that seems crucial to their day-to-day life. Don't worry, they will promise to pay you back or meet you in person soon. However, they never will.
How to Avoid
To avoid this scam, be careful about who you trust online.
Never send money or gifts to someone you have not met in person. Do not share your personal or financial information with anyone online. If someone asks you for money online, stop communicating with them and report them to the platform.
4. Tech Support Scams
This scam simply preys on your fear of losing your data or your identity online. The scammer will call you or send you an email pretending to be from a tech company like Microsoft or Apple. They will tell you that your computer has a virus or a problem that needs to be fixed urgently, and then they will ask you to give them remote access to your computer so they can “fix” the problem for you.
Once they have access to your computer, it's GAME OVER. They can steal your personal information, install malware, or lock your files.
How to Avoid
To avoid this scam, never give remote access to your computer to anyone who contacts you unsolicited.
Hang up the phone or delete the email if someone claims to be from tech support and asks for access to your computer. If you think your computer has a problem, contact a reputable tech company yourself.
How to Protect Yourself from P2P Scams
P2P scams are not new, but they are becoming more sophisticated and prevalent in 2023. To protect yourself from these scams, follow these tips:
Only use P2P payment apps with strong security features like Binance P2P.
Look for features like two-factor authentication and fraud protection.
Never send money upfront for anything, to someone you don’t know or trust online.
Be suspicious of any requests for money that seem too good to be true or too urgent.
If you think you’ve been scammed, report it to Binance and the P2P payment app immediately.
By following these tips, you can enjoy the benefits of P2P payments without falling victim to scammers, especially during #BinanceTournament , be mindful of wolves in sheep's clothing.
I hope this article helps you stay safe on Binance and online in 2023.
