BINANCE P2P Scam Alert | Bitcointalksearch.org

CryptSafe

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Quote from: Sanitough on November 16, 2024, 04:23:23 AM

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Quote from: CryptSafe on November 15, 2024, 12:09:29 PM

In this case nobody can really tell if he is really telling the truth or not and if he realises that you know he is lieing, he would hurriedly pay to cover up and pretend but as long as he paid complete, you will have no option than to confirm that he truly paid, confirm the figures before releasing the coin if possible, transfer the money from the account to another first before you release the coin for him.

After that, you leave a feedback as you have said so that others dealing with him would be cautious about their engagement with him via the p2p platform that they don't get scammed and if you can, block that vendor so you don't encounter him again.

If he’s not being truthful and it’s really part of his scheme, the negative feedback will pile up until his reputation is ruined. That’s a big problem because there’s a lot of money to be made in P2P transactions if you’re consistent. But to succeed, you need to maintain a solid reputation, without that, you’re out of business in this market.

Yes you are right, If he is not being truthful about it then the feedback would speak of volume about his attitude of such scheme by him. Sometimes they succeed on people with such scheme claiming to be a mistake that they really did not look into the figures to know what they are doing as a result of the fact that they just woke up from sleep and other cooked up stories from them just to cover up their tricks.

If one wants to be up and doing on the p2p transactions, they would need to do away with attitudes that would scare potential customers from them because if a negative feedback is left for left on their trade profile, it just would end up pulling away deals from them and nobody would look into their ads for any reason because they would be extremely careful and cautious of such trader.

Yaunfitda

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Quote from: NotATether on November 15, 2024, 06:57:41 AM

Quote from: LogitechMouse on November 14, 2024, 06:54:47 AM

I don't know what's the consequences of sellers trying to scam these buyers since I haven't encountered one yet, but I believe they aren't allowed to trade anymore, and a possibility of freezing of their funds?

It depends. If it's an e-money account like PayPal, sure, report it. But if it's some local bank account then your options are more limited. Especially in countries where there is no functional police system to report to.

It's obvious that the account will be frozen, but they could have used someone's identity and so if that account has been freeze, then they could come up with a new one and start the scam. There were even cases that after the trade, the buyer will report your account as fraud and so this person was not able to login to his bank account and when he inquire this is the case that he had to face.

Moral lesson here is to be very very careful on who we going to pick up if we want to sell our crypto. If the offer is too good to be true, then don't choose it specially if the exchange rate is very high as compare to others.

Sanitough

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Quote from: acroman08 on November 15, 2024, 06:01:55 AM

Quote from: Sanitough on November 14, 2024, 10:18:21 PM

Whether he’s telling the truth or not, you can’t report him if he paid the full amount. However, you can leave a bad feedback if you think it’s justified, so his rating drops. Always double-check if the expected amount has been received before releasing your crypto. Personally, I’ve experienced similar situations, but I never fell victim because I didn’t rush and made sure I was fully focused during the transaction.

that's the tricky part with scammers that use this kind of strategy, the scammer can claim that the feedback should be invalid since the scammer can claim that they just made a mistake and fix it immediately when they are notified.

Exactly... He can make all the excuses he wants, but those negative feedbacks will definitely hurt his reputation as a seller. He won’t be at the top of anyone’s list. For me, I always go for sellers with 95% or higher successful transaction rates just to minimize the risk.

Quote from: CryptSafe on November 15, 2024, 12:09:29 PM

In this case nobody can really tell if he is really telling the truth or not and if he realises that you know he is lieing, he would hurriedly pay to cover up and pretend but as long as he paid complete, you will have no option than to confirm that he truly paid, confirm the figures before releasing the coin if possible, transfer the money from the account to another first before you release the coin for him.

After that, you leave a feedback as you have said so that others dealing with him would be cautious about their engagement with him via the p2p platform that they don't get scammed and if you can, block that vendor so you don't encounter him again.

If he’s not being truthful and it’s really part of his scheme, the negative feedback will pile up until his reputation is ruined. That’s a big problem because there’s a lot of money to be made in P2P transactions if you’re consistent. But to succeed, you need to maintain a solid reputation, without that, you’re out of business in this market.

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Quote from: Gladitorcomeback on November 13, 2024, 10:51:59 AM

Two or three days ago I was selling dollars in Binance P2P. I keeped lower the minimum limit for getting high price. I was in hurry because I have to go to Madrasa (Islamic University). 4 deal was successfully completed but the fifth one was tricky. The buyer open the order of 14900 PKR(Pakistani Rupee) but he send me only 1490 and then asked for releasing the order. Thanks Almighty Allah that I checked the incoming payment history and didn't scammed.

Buyer then apologize for his mistake and He said that he just woke up from sleep which caused the mistake. I don't know whether he is telling truth or this is part of track but we should be careful very much. Personally I selling in parts to reduce the risk.

Looking at the chat, it does not seem that he wanted to scam as he apologized immediately and sent you the remaining amount. We cannot say that it was intentional. Only that persons knows whether he was trying to scam or just did it by mistake.

Also if you have closed the P2P trade without paying attention to the amount received, you can still appeal the binance and show them the money that was transferred was less. I guess binance will still limit his account until he clears all his payment. The important thing is that you do not take the conversation out of binance as then binance may not be able to help. As long as all the dealing is with the binance, your case would have been settled in any case

Findingnemo

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There are far advanced scamming techniques are in practice on P2P for very long time, you will receive the whole money and the trade will be completed successfully but after a while like in a month or two, you will get a call from bank asking for a particular transaction and reason for this or simply you will see that access to your bank account is restricted then you will contact bank and find out your bank account is involved in receiving hacked money from other bank account.

That's when you realise you're in deep trouble z you will not only lose the funds involved in the trade but whatever funds left in the bank will be confiscated.

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Quote from: AbuBhakar on November 15, 2024, 09:17:12 AM

There’s merchant and other verified accounts that gives more security since these account submit extra verification for their legitimacy. This is the reason why I never deal on random P2P user and always choose the verified merchant to avoid any scam attempt.

Most of the scammer use throwaway Binance ccount that has KYC from random people.

Sometimes it's the random user that goes to you instead of the other way round if you're selling so there's no way to avoid such.

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Quote from: Yaunfitda on November 15, 2024, 05:34:25 AM

Quote from: tabas on November 14, 2024, 06:36:01 PM

This is why every transaction done in a P2P market should be verified. He might be telling the truth but he probably is not and has done this thing several times and was able to trick other users and release the coins/fiat to him eventually. I think that whenever you're in a hurry, or if the other party is hurrying you to do the deal, always be patient and check everything before proceeding with the deal. You're on your wheel to take time and you'd see signs if they're trying to scam you based on how they approach you just to pursue the trade,

Maybe, but it seems from what I understand, he didn't pull a scam and paid everything. I thought the whole story will be revolved in him not getting paid or the scammers said that he already sent it but then there are no money coming in his account. That is what I experience in Binance P2P like years ago, he had good feedback and the exchange rate was really high. So we talk and make that deal, however, when he said that he has sent it already, but in my side I didn't get any. And then he has the nerve to pressure me to released but I said no. And then he said that he will file a case against me, Lol. As if he wants to be the scammer. But I wasn't moved and then we go on the dispute and later found out that he really didn't sent any.

So yeah, there are a lot of scammers in Binance P2P so just be careful everyone!!!

Yes, he wasn't scammed but raising awareness to others that when dealing with P2P, everyone needs to be careful before sending the payment or releasing the coins. As per your experience, these scammers will do everything in their capacity to keep on tricking others. If it takes them to buy fresh accounts or with solid reputation in the p2p market so that they'll be trustworthy, they'd do that so that they can easily be trusted by the people whom they're trading with. As always, verify, verify, verify no matter what pressure the other party is giving you.

CryptSafe

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Quote from: Sanitough on November 14, 2024, 10:18:21 PM

Whether he’s telling the truth or not, you can’t report him if he paid the full amount. However, you can leave a bad feedback if you think it’s justified, so his rating drops. Always double-check if the expected amount has been received before releasing your crypto. Personally, I’ve experienced similar situations, but I never fell victim because I didn’t rush and made sure I was fully focused during the transaction.

In this case nobody can really tell if he is really telling the truth or not and if he realises that you know he is lieing, he would hurriedly pay to cover up and pretend but as long as he paid complete, you will have no option than to confirm that he truly paid, confirm the figures before releasing the coin if possible, transfer the money from the account to another first before you release the coin for him.

After that, you leave a feedback as you have said so that others dealing with him would be cautious about their engagement with him via the p2p platform that they don't get scammed and if you can, block that vendor so you don't encounter him again.

SmartGold01

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Quote from: Gladitorcomeback on November 13, 2024, 10:51:59 AM

My Goal from creating this thread to attention newbies when using P2P in any exchange so that we don't loss our hardworking profit due to small mistake.

It's always like this and all time they always have something in mind to say to defend themselves from their scam attempt.
This is same to my experience on bybit but I didn't get alert and bybit automatically released my coin to them just like that, I raised a case but didn't handle and it was overlooked because buyer already sent fake screenshot to them. I was mad and the luck I had was that it was about only $10 instead of selling of 70$ at a go, I tried my best and even raise support towards it what they could say is that from their end buyer has already sent payment therefore it's settled, okay even though it's settled were is the money in account and I didn't receive alert. What i did was to give the buyer negative feedback since from today I never saw him around bybit trading again it is about 6 months now.

The thing is we need to be extra careful while dealing with this people on p2p because some of them do not have upto that amount they placed on buy order and I have red numerous stories about p2p, this making me to open my own service to only trade with people within my location board at least it's more secure and trust since we can handle issues and also trust system to judge them.

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Quote from: Alone055 on November 15, 2024, 09:08:28 AM

Quote from: NotATether on November 15, 2024, 06:57:41 AM

It depends. If it's an e-money account like PayPal, sure, report it. But if it's some local bank account then your options are more limited. Especially in countries where there is no functional police system to report to.

With local bank accounts, one can open a dispute through the bank against the account that has received the amount, marking it as a fraudulent payment or activity, but that's only when you are the buyer who is buying a cryptocurrency using fiat. Suppose you are the seller and get scammed by a buyer. In that case, you will barely have any options to get your funds back because Binance Support is of no help in such cases because scammers don't keep their funds in those accounts for long, and all Binance can do is freeze their accounts or its funds which don't help you in any way.

When a seller tries to scam you or scam you, you can then report them through your bank and the receiver's account, and its funds will get blocked for being involved in fraudulent activities. Still, they barely care because they use accounts they don't care much about for such activities, and they [probably take the funds out right after receiving them.

Binance actually work like bank when the scammer is from the Binance. They require KYC verification before someone can open an order on the P2P while Binance escrow the amount involved for the P2P transactions.

There’s merchant and other verified accounts that gives more security since these account submit extra verification for their legitimacy. This is the reason why I never deal on random P2P user and always choose the verified merchant to avoid any scam attempt.

Most of the scammer use throwaway Binance ccount that has KYC from random people.

Alone055

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Quote from: NotATether on November 15, 2024, 06:57:41 AM

It depends. If it's an e-money account like PayPal, sure, report it. But if it's some local bank account then your options are more limited. Especially in countries where there is no functional police system to report to.

With local bank accounts, one can open a dispute through the bank against the account that has received the amount, marking it as a fraudulent payment or activity, but that's only when you are the buyer who is buying a cryptocurrency using fiat. Suppose you are the seller and get scammed by a buyer. In that case, you will barely have any options to get your funds back because Binance Support is of no help in such cases because scammers don't keep their funds in those accounts for long, and all Binance can do is freeze their accounts or its funds which don't help you in any way.

When a seller tries to scam you or scam you, you can then report them through your bank and the receiver's account, and its funds will get blocked for being involved in fraudulent activities. Still, they barely care because they use accounts they don't care much about for such activities, and they [probably take the funds out right after receiving them.

NotATether

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Quote from: LogitechMouse on November 14, 2024, 06:54:47 AM

I don't know what's the consequences of sellers trying to scam these buyers since I haven't encountered one yet, but I believe they aren't allowed to trade anymore, and a possibility of freezing of their funds?

It depends. If it's an e-money account like PayPal, sure, report it. But if it's some local bank account then your options are more limited. Especially in countries where there is no functional police system to report to.

acroman08

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Quote from: Sanitough on November 14, 2024, 10:18:21 PM

Whether he’s telling the truth or not, you can’t report him if he paid the full amount. However, you can leave a bad feedback if you think it’s justified, so his rating drops. Always double-check if the expected amount has been received before releasing your crypto. Personally, I’ve experienced similar situations, but I never fell victim because I didn’t rush and made sure I was fully focused during the transaction.

that's the tricky part with scammers that use this kind of strategy, the scammer can claim that the feedback should be invalid since the scammer can claim that they just made a mistake and fix it immediately when they are notified.

Yaunfitda

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Quote from: tabas on November 14, 2024, 06:36:01 PM

This is why every transaction done in a P2P market should be verified. He might be telling the truth but he probably is not and has done this thing several times and was able to trick other users and release the coins/fiat to him eventually. I think that whenever you're in a hurry, or if the other party is hurrying you to do the deal, always be patient and check everything before proceeding with the deal. You're on your wheel to take time and you'd see signs if they're trying to scam you based on how they approach you just to pursue the trade,

Maybe, but it seems from what I understand, he didn't pull a scam and paid everything. I thought the whole story will be revolved in him not getting paid or the scammers said that he already sent it but then there are no money coming in his account. That is what I experience in Binance P2P like years ago, he had good feedback and the exchange rate was really high. So we talk and make that deal, however, when he said that he has sent it already, but in my side I didn't get any. And then he has the nerve to pressure me to released but I said no. And then he said that he will file a case against me, Lol. As if he wants to be the scammer. But I wasn't moved and then we go on the dispute and later found out that he really didn't sent any.

So yeah, there are a lot of scammers in Binance P2P so just be careful everyone!!!

Sanitough

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Whether he’s telling the truth or not, you can’t report him if he paid the full amount. However, you can leave a bad feedback if you think it’s justified, so his rating drops. Always double-check if the expected amount has been received before releasing your crypto. Personally, I’ve experienced similar situations, but I never fell victim because I didn’t rush and made sure I was fully focused during the transaction.

hugeblack

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In P2P transactions you should always be careful, do not trust anyone, always review each transaction, if you have a friend or someone you trust, caution is also a must and we all make mistakes.

There is another problem with P2P, which is that if you make several transactions from unrelated accounts or a personal and non-commercial account, the bank may freeze your account or ask you about the nature of your business, especially if the regulatory laws in your country are strict, so it is better to make P2P transactions with same accounts instead of trying new people every time.

tabas

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This is why every transaction done in a P2P market should be verified. He might be telling the truth but he probably is not and has done this thing several times and was able to trick other users and release the coins/fiat to him eventually. I think that whenever you're in a hurry, or if the other party is hurrying you to do the deal, always be patient and check everything before proceeding with the deal. You're on your wheel to take time and you'd see signs if they're trying to scam you based on how they approach you just to pursue the trade,

Zwei

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could have been an honest mistake on his part, or maybe not. i have seen this kind of scam way too many times, you can never be too careful with p2p deals. never trust, always verify.

Quote from: NotATether on November 14, 2024, 01:46:16 AM

That is why it's important to confirm the payment on your side always.

can't stress how important this is. someone once tried to scam me by sending a fake paypal payment confirmation email.

JeromeTash

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Never be pressured or rushed to release the coins quick before confirming the actual amount sent to your bank account. With p2p, I usually take my time. I even make sure I check the account balance twice or thrice to be sure.

If I were you, I would have left that buyer negative feedback so he knows not to mess up next time.

LogitechMouse

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I've been using Binance P2P for years already, and luckily for me, I didn't encounter a single problem with it.

The best thing to do when we are doing P2P is to always check the amount of money that we're getting NO MATTER WHAT HAPPENS OR WHAT YOU'RE DOING. Some might find it suspicious, but I have always this "benefit of the doubt" kind of mindset and what's important is, we're getting the full amount of what we're selling.

I don't know what's the consequences of sellers trying to scam these buyers since I haven't encountered one yet, but I believe they aren't allowed to trade anymore, and a possibility of freezing of their funds?

Whatever the case is, always check the money that we're getting. I believe on Binance, the total amount of money that we're getting is being displayed even before we sell our assets, so if you didn't get the exact amount, report it at least.

Thanks for alerting still OP.

NotATether

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Quote from: Ojima-ojo on November 13, 2024, 02:55:55 PM

This figure lowering scam happens alot olnot only on p2p market place but all other payments from stranger's such as bank transfer, pos withdrawals and p2p, the scammers always attempts to be smart by sending a lower lookalike wrong figure, and if the receiver is not Smart enough he may confirm payment and realease goods, this is payment scam.

That is why it's important to confirm the payment on your side always.

If it is not the correct amount then you should certainly clarify this to the buyer so that it can be fixed before you release money from the escrow.

Most scammers in P2P marketplaces either get the ban hammer or negative trusted like on this forum. (I believe the whole point of the trust system here was when this place was primarily a P2P marketplace.)

SamReomo

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P2p scams are common these days and one can avoid being scammed by the scammers by being aware during p2p trading. I've been doing p2p trading on Binance from a long time and so far I haven't come close to such scammers. It's always better to only deal with reputable p2p sellers or buyers for being safe from such scammers.

acroman08

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that's definitely suspicious, I mean, it isn't uncommon for scammers to put similar looking amount to try and trick the seller. glad that you were able to notice it.

Quote from: Binance Coin on November 13, 2024, 11:14:44 AM

Binance P2P is not scam.

The one who tried to send you the wrong amount is to blame.

no one is saying that binance p2p is a scam, the title is meant to be understood as "someone is scamming on binance p2p", this isn't the this happened on binance p2p.

Ojima-ojo

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This figure lowering scam happens alot olnot only on p2p market place but all other payments from stranger's such as bank transfer, pos withdrawals and p2p, the scammers always attempts to be smart by sending a lower lookalike wrong figure, and if the receiver is not Smart enough he may confirm payment and realease goods, this is payment scam.

Although those scamming with that have known the possible liphols and try to take advantage of it, but we all have to be smart enough to dictect their tricks, because it always happens when we are too busy and have divided attentions,.

albon

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Before releasing the order, we must ensure that the amount we want to receive has been arrived by verifying the payment method, whether through the application or the bank’s customer service, etc., and ensuring that the agreed-upon amount has arrived in full from the merchant, and not relying on screenshots sent by him and not rushing to release the order. The conversation must be within Binance only without communication outside it. It is also better to deal with merchants who have a high rate of positive ratings and have verified Badges as trusted traders. Mistakes are likely to happen, but this does not prevent the presence of scammers on P2P,, and we must deal with this matter with caution. Indeed, the point of dividing the amount by you OP and selling it through p2p in parts is a smart approach, rather than selling it all at once to a single person as this method reduces the risk and provides an extra layer of security.

The following two articles published by Binance will be useful for more information:

[1] P2P Safety: How to Recognize and Avoid Paid-but-Canceled Scams
[2] Understanding the Risks of Off-Exchange P2P Trading

xLays

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I understand you've already provided details about the chat, but it would be helpful if you could also include a translation of the conversation.

Based on your post, it doesn't appear to be a confirmed scam since you haven't released the funds, and the buyer didn't benefited from that. It could simply be a scam attempt, or as you mentioned it might have been an honest mistake with the buyer accidentally sending a lower amount. I've experienced similar situation myself, where I sent less than intended amount to seller. It ended up my Binance account on hold because of that matter. But still thanks for posting this, consider this as reminder. It's always best to double check the amount received from the buyer, as Binance frequently reminds us to do so.

Davidvictorson

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To the best of my knowledge, most of the exchanges that have a P2P feature always have a warning that the receiver should check their balance before releasing their coins. In fact there is one that even mentions that some users of a particular bank can manipulate the receipt. It is a good thing that you caught it on time. Do not take it like an innocent mistake. Know that you were about to be scammed by that buyer and like you already wrote it is a wake up call to newbies to never be in a hurry neither should they allow any buyer to put pressure on them to release the coin when they are yet to confirm from that the money has been deposited in their account. It is not a binance issue. And even these exchanges know that there are scammers who pose as buyers. So they do their best to control them through the warning messages for the sellers.

Nwada001

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Lucky you were not really in a hurry, and you don't have much transaction that goes on in your account that could have led you not to discover that scam attempt. Well, I don't know if we can believe the buyer for saying they made a mistake or not, or if it was actually a scam attempt.

I've given him a benefit of doubt because just a few days ago I was overpaid by a merchant in Bybit P2P before the buyer realised the trade had already been concluded. It was when I checked my completed order history that I noticed he overpaid me by an amount close to $3, to which he dropped me a message with an account number, which I returned the fund back to. So sometimes most of them actually do make mistakes because of too much order on their hands, but sometimes it's a voluntary action. We just have to be super careful in order not to get scammed.

Cantsay

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This is not only done in Binance, I have seen some merchants do similar things on other P2P platforms; like they marking the trade as “paid” without paying and then pressuring you to release the coin that you’ll receive the money and the delay is probably coming from your bank.

The last one I post about was Becareful when using P2P, which usually happens on Kucoin where the merchant would use a certain price on their ads but when you click on it and want to sell to them the price changes without you being notified (it doesn’t happen in Binance though).

Binance Coin

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Binance P2P is not scam.

The one who tried to send you the wrong amount is to blame.

Gladitorcomeback

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Two or three days ago I was selling dollars in Binance P2P. I keeped lower the minimum limit for getting high price. I was in hurry because I have to go to Madrasa (Islamic University). 4 deal was successfully completed but the fifth one was tricky. The buyer open the order of 14900 PKR(Pakistani Rupee) but he send me only 1490 and then asked for releasing the order. Thanks Almighty Allah that I checked the incoming payment history and didn't scammed.

Buyer then apologize for his mistake and He said that he just woke up from sleep which caused the mistake. I don't know whether he is telling truth or this is part of track but we should be careful very much. Personally I selling in parts to reduce the risk.

My Goal from creating this thread to attention newbies when using P2P in any exchange so that we don't loss our hardworking profit due to small mistake.

Topic: BINANCE P2P Scam Alert (Read 334 times)