In Pakistan recently, an incident occurred where a person bought USDT from us on Binance P2P. We received a CNIC picture and a mobile number from the buyer. The Binance and bank names matched. However, the next day, our bank account was frozen.

When we contacted the bank, they informed us about the transaction details. We provided the CNIC received during the transaction and a written statement explaining that we offered freelance services like software activation and Amazon gift cards.

A few days later, the bank revealed that the sender had been offered 10,000 Rs monthly to open an account and provide details. The person, who was poor, agreed and created a Binance account in his name. The person who made the offer committed fraud with five different people. The fraudster received PKR in the poor man's bank account and then bought USDT. The scheme involved five individuals. The bank advised us to refund the amount immediately for our safety, stating this would show we were unaware of the source of the money, thus protecting us.

The fraud targeted a businessman who filed an FIR. The police apprehended the account holder, who then revealed the truth. The gang remains at large.

Solution:

For P2P sellers on Binance, always request a video of the account statement showing the last seven days' transaction history. If no payments have been received from others, proceed with the trade; otherwise, cancel it.