According to ChainCatcher, Binance said in an official blog post that while P2P trading outside of cryptocurrency exchanges can bring some benefits, it also comes with huge risks. It is vital that users understand these risks and take proactive measures to protect themselves by using reputable platforms, staying informed and acting cautiously. Binance recommends avoiding OTC P2P scams by:

Using reputable platforms: Trade through reputable exchanges that provide escrow services and anti-fraud protection.

Be skeptical of offers that are too good to be true: If a P2P transaction sounds too good to be true, it is likely fake. Please proceed with caution and conduct due diligence.

Self-education: Understand common scams and how they work. Knowledge is the best way to prevent fraud.