Scammers are getting smarter, and their latest scheme targets P2P transactions on Binance. Don't let your hard-earned crypto fall prey to them! Here's the scam playbook they're using and how you can protect yourself.
How the Scam Works
1️⃣ The Seemingly Fluid Exchange
You sell crypto through Binance P2P, and the buyer’s payment arrives in your bank account. Everything seems fine—until it isn’t.
2️⃣ The Fraudulent Dispute
Days later, the buyer contacts their bank, claiming the payment was fraudulent. Taking advantage of loopholes in the banking system, they reverse the transaction—leaving you with no payment and your cryptocurrency gone.
3️⃣ Blocked Account
The bank freezes your account without notifying you, making it impossible to access your funds. The scammer then contacts you directly, pretending to “help” resolve the issue. They will demand that you return the money they sent you to “unblock” your account.
4️⃣ The Real Trap
Feeling pressured—especially if you have more money stuck in your account—may make you feel obligated to comply. This is how scammers trap victims and repeat the process.
The Growing Threat
This scam is not isolated. Reports are coming in from Binance users and crypto communities. At least 15 people have already fallen victim. If it's happening to them, it could happen to you.
Stay Safe: 3 Simple Steps 🔒
Avoid falling into the trap by following these steps:
1️⃣ Exchange with Trusted Buyers
• Sell only to buyers with a completion rate above 95%.
• Make sure they have completed at least 1,000 trades.
2️⃣ Read the Reviews
• Negative reviews reveal the truth. Look out for scam or dispute claims and stay away from shady buyers.
3️⃣ Double Check the Terms
• Pay attention to the conditions before proceeding. If something seems strange, walk away.
