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Author: Admin | 2025-04-28
Their bank account or wallet. Investment Scams – In this case, the scammer convinces victims that they're investing in a profitable ventures (mostly get-rich-quick or high-yielding investment schemes) and proceeds to fleece them of their crypto or money. Ecommerce Scams – Scammers can entice unsuspecting buyers with cheap deals and crypto payment options. Once they receive payment, they never deliver the said product but escape with the victim’s funds. Reporting Payment to the Bank as Fraud – This mostly happens in international transactions when scammers send payments and proceed to report such payments as fraud in an attempt to reverse the payments. Fake Receipt Scams – Scammers can manipulate receipts, screenshots, and other photos to convince counterparties that they have made payments or done their parts of a deal when they haven’t. If any unsuspecting victim falls for the fake receipt, the scammer flees with the money. Wrong Transfer Scams – This normally involves scammers reporting that their transfers were wrong or hijacked in an attempt to void transactions. They may proceed to threaten the victim that crypto is illegal when they are found out in certain countries. Off-Escrow Manipulation – In this instance, a scammer may manipulate the victim to abandon a reliable platform with escrow service like Binance P2P for a less –reliable platform where escrow is either non-existent or compromised. Inducing Panic For Faster Release of Fund – Scammers often try to make victims panic in the midst of an ongoing order, convincing them to complete transactions when they haven’t completed their end of the deal first.Just as the crypto world continues to evolve, scammers continue to evolve their strategies. It is best to remain vigilant when trading on peer-to-peer platforms, including Binance P2P.Tips to stay safe when using P2P marketplacesUnderstanding how scammers work and their different strategies are only the first steps when it comes to staying safe and avoiding scams. Here, we will provide top tips that can help you identify scammers faster and avoid falling victim. Without further ado, here are important tips on how to avoid scams when using P2P: Use only reliable platforms with KYC (like Binance P2P) when transacting on a P2P basis Use a unique email and password for your crypto and specifically P2P account You should never share your sensitive information, regardless of the circumstance Resist the urge and temptation to complete transactions outside a reliable P2P platform with
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