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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