A common scam on Binance P2P is called the Paid-But-Canceled scam. It happens when a fraudulent seller asks you to cancel an order after you've made the payment, usually claiming there’s an issue. Once you cancel, the scammer keeps both your money and the crypto.
Key Safety Tips:
Don’t cancel any order after making a payment unless you’ve confirmed the refund.
Be cautious of unusually good deals and report suspicious activity right away.
Communicate only through Binance to stay protected.
If the seller doesn’t release the cryptocurrency, raise an appeal with Binance support.
Best Practices for Secure P2P Trading:
Check the seller’s background before making any trades.
Use Binance's built-in security features like escrow to protect your assets.
Keep an eye on your account for anything out of the ordinary.
Stay vigilant, protect your assets, and keep your trades secure on Binance P2P.
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