Binance P2P Scams in Pakistan: How to Protect Yourself

P2P trading on Binance is gaining popularity in Pakistan, but scams are becoming more prevalent. Here are some common types of scams:

Cancellation After Payment: Sellers may cancel orders after receiving payment.

Blocked Accounts: Sellers’ accounts can be frozen if flagged for fraud.

Fake Payment Proofs: Scammers create bogus payment confirmations to deceive sellers.

SMS Scams: Fraudulent text messages trick victims into revealing personal information.

Chargeback Scams: Buyers may reverse payments after receiving cryptocurrency.

Man-in-the-Middle Scams: Scammers intercept and alter communications.

How to Protect Yourself:

Verify: Always check the other party’s transaction history and ratings. Communicate only through Binance P2P.

Secure Payments: Use reliable payment methods.

Double-Check Details: Carefully review payment information.

Be Cautious of Too-Good-To-Be-True Offers: If it seems unrealistic, it likely is.

Use Escrow: Take advantage of Binance’s escrow service for added security.

Report Suspicious Activity: Notify Binance of any dubious behavior.

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