P2P Safety: How to Recognize and Avoid Paid-but-Canceled Scams
Criminals pose as crypto sellers to convince buyers to cancel their exchange platform order after payment, causing financial loss.
Once a payment has been made, never cancel a P2P order unless you are positive the request is legitimate. In the event that your counterparty requested that you cancel your buy order on Binance P2P, file an appeal with our Live Chat support team right away if you believe there has been fraud.
The security of our users is the first concern for Binance. Since users are the first and most powerful line of defense against criminal activity in the cryptocurrency realm, being aware of the most prevalent scams and how to avoid them is crucial.
The best defense for both the wider ecosystem and yourself against scammers is to keep up with the newest advances in the field. Criminals are always coming up with new schemes to take advantage of gullible people, especially those that go after peer-to-peer (P2P) traders.
A strategy that has gained popularity is the "paid-but-canceled scam." Continue reading to find out more about this dishonest technique, how it operates, and how to avoid it.
If You've Experienced Fraud
1. Contact care: To report the problem, get in touch with our customer care staff.
2. Document Everything: Maintain a log of all conversations and exchanges pertaining to the event.
3. Report: Submit a report right away.
