Topic: Dey cautious of palmpay users for p2p (Read 427 times)

I am more worried now than ever following this post and some comments I have read so far, including yours. Bybit have actually become the favorite P2P market for Nigerians since Binance and Kucoin, the two biggest exchanges in P2P market, have suspended their operation in the NGN. This revelation might mean that we are now at the mercy of scammers and that is scary. I have used them many times but thankfully I have not had any issues. I just hope this revelation does not filter into the ears of people who are out to maim anything good because if Bybit goes down, it will affect many people who are buying Bitcoin using the Naira.

When I started using Bitcoin, I used to have trusted merchants that I buy from directly but the proliferation of P2P services in exchanges pushed most of them out of business except those that went ahead to register as merchants in the exchanges. I lost money a few times to scammers posing to be genuine merchant until I was able to establish some reliable contacts. I just hope we are not going back to that era.

Na serious warning be dis o, because as far as Fintech banks are concerned, they are the only hope we have as bitcoiners or Bitcoin and cryptocurrencies investors, to receive our funds in local currency and even transfer and complete some very important transactions wey go take longer to go bank and rectify.

I no think say Opay get this kind deleting features and if person even try connect with their customer service, d m dey respond on time as long as say evidence or proof of transaction dey imbedded.

Na to register on and own more than one Fintech bank to receive funds from CEX and DEX be the solution wey I see so o, and to dey sure say we don get the alert and see am for our account before we acknowledge the transaction successful first and repeat the funds.

palmpay don't use kYC, that's why too many scammers using their bank to scam people.  On palmpay you can use someone full name to open the account with different number without verification, have stopped using palmpay for long time ago, and if one send me their palmpay account I have to call the person to confirm it first. Unlike opay, you can't open account with someone name with different BVN or NIN. Op has given our a hint to be guided when trading with Verdo using palmpay,  is a good one, this is why this forum was created for us to be informed and share ideas on what's happening in the crypto market. This is a useful information, for us in Nigeria to protect our coin, especially now that things are hard in the country loosing your hard earn bitcoin to scammer can lead on to depression.

Scammers are always ready to seize an opportunity whenever it comes to them, therefore everyone needs to be extremly careful and two steps ahead so you won't be victimised, these are hard times, the economy is not favorable and losing one's hard earned money to scammers is heartbreaking therefore everyone needs to take note of the OP's information and be careful when dealing with vendors that uses the Palmpay as their mode of payment. I almost got victimized sometime ago when the vendor sent a message on the chat box that he's paid and I requested for prove then he sent me an image of a receipt showing pending, I told him the transaction is pending and I haven't been credited but he told me to release that he's already paid and was debited, it took me till several hours to receive the money and if I had released that coin to him, I think he would've reversed the money and by then I would've been on the losing side therefore no matter how much you trust a vendor, do not release coin if you've not seen a credit alert from the vendor especially when dealing with vendors using Palmpay as payment option.

scam na something wey we no fit control or even stop am for the society because na everyday na these things and people dey look for ways to get the best of us . The only thing wey person fit do like you don already talk na to stay updated and dey very careful and cautious make we no go fall victim of these scams.

Unfortunately Scammers will continue to loom everywhere, we just have to be cautious ironically they have always been many but at that time where spread across various CEX offering p2p but now that majority of the top one have closed service, they have become saturated in the few remaining.
Don't forget scammers are innovative and creative, that's why we also have to be cautious and stay updated on their new scheme's in order not to fall victim or anyone closed to us.

Some days back a guy was cought and dealt with because he did a fake transfer to a little girl who is doing POS at the road sid, and unlucky for him, he was caught. The beating was too much though but he deserves it because those are the kind of people that spoils the names of their families.
However, why I said that is because the people have been using this palm pay app to do a lot of bad things. I am not surprised to hear this because any MFB scammers are using to do fake transfer can also be used to do some other scam activities, deleting of transactions is not too big for a scammer to do, if they can do fake transactions.
Some of the well known exchanges that most of this things weren't happening have disabled p2p from their platforms and the only ones that Bitcoiners are managing to exchange their cryptos are filled with scammers (when will all this stop?).

My friend have called my attention to this pop when ever he wants to trade with bybit exchange. I think there must have been complaints of this nature before the exchange put up such warning to members to take caution.

I was wondering how this micro finance Bank could grant their customers the avenue to reverse or delete their transactions which is not normal. Do they not know that such am act could warrant more nefarious act by scammers. Imagine after review payment and you release coin and all of a sudden you realise you can not access your own money as a result of the buyers action. It is very absurd and annoying though.

Bybit could ban the use of the above microfinance bank  as captured in the OP for transaction so as to further stop any loss by member. I think currently this is the only way out while waiting for the bank to act upon it.

Lol 😂 but even at that it's still a two way thing because their is no certainty that the rate will drop sometimes it might go the other way. But that's the truth about this bybit exchange almost all the vendors there are crazy and like pissing off someone, sometimes all of them are offline or the moment you book a trade the vendor goes off and maybe you need it urgent and cancel the trade then you will just be disappointed.

Is this a loophole created by Palm pay to frustrate crypto trading?, because if this is an ordinary programming error, it would've been fixed long time ago. Leaving it to linger very much long enough for multiple people to get scammed depicts intentional act.  Its damaging their reputation and reduced patronage.

Normally, they  must've heard about it early enough. They ought to have suspended services, gone for maintenance and fixed this before it gets so noticeable, but I think they are too slow to respond to customers pains and its very bad for business.

This people dem no dey gree change, anyway for this case Na palmpay i blame because Wattin go make dem allow their users to dey temper with transaction history? That Na information wey go also stand as reminder and proof of payment. All this boys make dem try rest, if them use all the time wey dem take brainstorm to make this rubbish take think on better wey of earning dem go fit come up with good idea instead of to dey thief other people money. Op thank you very much for this wonderful thread, person don learn another new trick, make we for adjust dealings with all this exchanges because Na there the hackers and scammers for crypto many pass.

Exactly, why will they add such features. The funny thing nah say nor be only crypto space dem go fit use this stuff do bad ohh , even people with normal business outside this space still need to day careful still ohh .like me now Amy body wey dey use palmpay for p2p I dey run from dem. I nor say normally some of those palmpay users good but still men still dey inside wey go use that stuff fir fraudulent act .

Most people nor wan hustle their own nah to dey find new means to tey dey defraud people. You go hear different format youself go weak. For me nothing sweet pass money wey you legitly get. Because nah form of encouragement say weting I learn Those days wey men dey laugh me say I dey waste my time, nah that knowledge I con tey dey earn for this space and God dun use am bless me , as I get I jejely invest for bitcoin, Because the plan nah to get better portion of bitcoin before e surge.

Na true say greed dey make people enter inside pot of soup but no be everytime cause this particular one dude, if you no dey aware you go fall whether greed or no greed, just imagine person wey never see or dey aware of this update and something come sup like this, definitely the person will be confused and because you are not informed you will just feel it's a normal thing though someone who has gone far I mean deep into this P2P will definitely sense that something is wrong somewhere. However, we shouldn't just be cautious about P2P alone but rather we should be cautious about anything investment we are doing  cause scammers are always improving everyday  both online and offline.

Now I see why most people label Bybit P2P marketplace as scammer capital because the CS are vulnerable and just require proof of payment from one party to release assets; they did not even make an effort to contact the other party; they simply act on payment proof and execute actions.

Some vendors are so annoying, my plan was to retain the assets until the rate drop so that the next time they know how to pay on time rather than when they feel like it.

Sorry about your experience, Igebotz. Bybit has always been known to release funds without explicit permission from their users. I have personally not experienced it before but from my observations, they only tend to do that if the person at the other end of the trade has provided sufficient proof and you are MIA. But I still think that it is wrong because if any buyer can provide a real enough evidence, they can make away with the money with a fake proof. It shouldn't be allowed to happen in the first place.

This is really one common thing to be cautious about when doing p2p especially with local vendors, this is not about high fee but from the fact that this scammers can pick a normal rate and then find a way to manipulate the receipt and claim they have paid you or maybe even say they didn`t received your payment, with proof of fake transaction history.

And this will still be seen on the transaction history though contacting police is not the only way most times the bank of the person who should do the reversal may do it themself or contact such person depending how complex is the issue

They are not the only ones doing this though, requesting of video of your transaction bitget also do this, I have even experienced it.

I think these scammers might be manipulating something because even the customer service at palmpay claim this is not possible.
There is a way that even with the video of transaction the exchange service may not be able to help, like my recent experience doing p2p this past week at bitget, I think may create a thread about it later for everyone to see and learn, the buyer claim to have transferred to me but i did not received it then i couldn`t released the coin even after an image proof especially from the fact that the buyer used Palmpay, then I told her about the warning about palmpay  scammers thinking she was one but she opt to raise a dispute which i supported, were the customer service required us to make a video of our transaction and  everything was good on both side especially from the fact that she had been using it for p2p over the day before our transaction.

The customer service couldn`t find any red flag from both of us and simply say we should find a way to sort it since both proof were legit but when did call me after this to askif it later came, I just had a thought of checking my palmpay where I saw the money whereas I supposed to send to my Opay while I don`t  even use the Palmpay but already an account with that number.
I made her known are error and finally released the coin for her.

I believed this is depending on how complex the issue is because last week were I needed customer service intervention it only  took some hours not even up to 4hrs.

Thanks for the update man

well personally I have since avoided the use of bybit exchange since because of the stupid behavior of most of their vendor's and seeing this am not surprised because I have had countless issues with many P2P vendors when was trading through bybit. Well for the scammers that are manouver the palmpay system I think the Fintech bank should find a way to solve the issues because the scammers could extend this cheat to other exchanges.

This one na very good update you bring so OP because literally, any banking platforms wey dey support deletions of transactions history will become very fraudulent and controversial for scammers to dey use and for some of this exchanges their p2p platforms don dey shake too much wey e be say if person no dey vigilant enough na so you go just fall yakata for all this p2p scam methodology so make people dey careful for all this exchange platforms now because e go bad say person lose his hard earned money to scammers just because of negligence because this one no be ignorance again since the info. don reach your door step so the major cause of falling victim to this kind things na total negligence because you know go see something wey go give you problems den you disregard say nothing go happen but when e happen now you go dey find who go help you wen e don already dey late.

However, I thank BYBIT for this quick notification to p2p traders even though some persons must have fallen victim but with this notification it will prevent more people from falling victim.

Those jerks released my coins without my permission two days ago. To summarise, I had a pending transaction around 1 a.m., the vendor clicked "paid," left me a couple of messages, and went to bed without making payment. I couldn't contact him, so I made another transaction and left that one because I needed image and video evidence to raise a dispute, so I ignored the whole process. When I woke up in the morning, my coin had already been released, after the vendor made payment

I've been in similar situations on Binance and OKX and the whole dispute took us more than 48hrs because it's a sensitive situation that requires more verification process. I don't know if Bybit being fast is good or bad idea.

This palmpay suppose don Dey see all these warnings and update and suppose don Dey do something very serious about it else them go just varnish out of market and dem go Dey think say na play matter.
Normally I don learn a lot of things from this the scam wey I been fall victim of for paxful and that very scam that year don really keep me alert and as e be like this, now I no really think say i fit easily fall for any of this cheap scams but one thing I use trust nija be say, them no Dey carry last for this street hustle and just as time the evolve, na so these scammers Dey improve and as a common man, we suppose to Dey try out best to stay updated with the updates of security and scam in the industry because the moment you fall victim, no body go Dey actually held for the mistake.

Kuda needs to wake up and try to enhance their bank security else this things go just shut them out of market.

Thanks for the information though whenever I open di app I dey see this information before and many people when dem see dis kind notification den no get time to read and all what they want is to sell their coins and leave. So with dis information here many people consciousness will be alert to read such information. I have stopped using it since 2023 January because they deducted my #1500 without my notice and when I contacted them to complain but they no give me better explanation so dat one come made me angry to stopped using their nonsense bank. And for now I dey use opay and I never get that kind experience. And I also agree with CryptopreneurBrainboss, because if to shey palmpay server e dey well secure those scammers for no fit di dat kind thing. So di issue na from palmpay. And make una no dey use am again.

I use kuda Bank for my crypto transactions, and even when I have received the funds in my kuda bank App, because I have also heard some sort of scam related cases with the App too, so when I received funds ,I even go far in as much as sending it out to other banks to ensure that it's not a flashed credit alert, Whereas since I saw this notice on Bybit I totally no longer accept transactions with people that are using this palmpay to avoid issues that would cause me to loosing my funds in this economic hard situation of the country, so for me these are the little measures I do take before I call it a successful transaction and before buying or releasing coins to anyone.

Thanks for this good information, and I dey thanks God say I no dey use Palmpay. And as you talk am say we should be careful, na so we need to because before we know now those scammers go enter other exchanges and do di same thing so di best way na to use commercial banks sef and not online banks.
But problem with commercial banks na di network wahala, one go send di money for more than 10 minutes you never received alert so how you want take release di coins, but online fintech Banks e dey very fast. Nai make people dey use am. Op thank for di information.

Those wey dey report my comments continue let di moderator dey delete.

Guy, na sharp update be this Sha. And normally I don always dey see this warning for exchange about palmpay but no really dey take time read watin e be. Na we for that bank o. Why Dem go dey let people delete transaction history. Them only dey cause problem for Dem self as people go dey run from their bank. I no first like Palmpay and I no dey use Dem service. I prefer opay to palmpay because e dey easier though Dem get similar service. But if people dey fit delete Dem transaction history dat one na correct red flag. And transaction are supposed to have a statement of account which on these mobile banks are transactions history.

Thanks for sharing Op this is a scamming warning from Bybit exchange on users using Palmpay for p2p transaction and doesn't mean the security chain of the Bybit exchange is broken. So, this exercise also occurs with other exchanges and not just ByBit.
It is also necessary to be observant with other Fintech companies this trick seems to be an update possibly to be executed in transacting with the micro banks. Maybe only Palmpay has been revealed yet.
But why we must take a cover up with users who might erase of their transaction histories, let's keep our prove of payments intact without being deleted until it's verified to safe us from such denial not to had received payment yet.

Before you can reverse a transaction that you send to someone, you will have to contact the person that you mistakenly sent the money to or finally get the police involved.

You know how scammers can be very tricky. It may not be real. I noticed the last issue I had on Bybit, I was told to do video of the transaction and not just the image payment proves (receipt). After I uploaded the video, the money was released for me almost immediately.


I did not know how that happened but likely scammers could have seen ways to manipulate receipts but I just do not know. I guess Bybit get something wrong about that. You can not delete receipt on Palmpay. It is not possible unless you inform the customer care. I do not think the customer care can do something like that unless you have a valid reason you want to do that. Contacting the customer care will take time and responding to your request will also take time. I do not have any bank to avoid and I have nothing to lose if I follow the rules of P2P.

Bybit will now only likely ask for video of the transaction.


The last time I had an issue like 2 weeks ago when the buyer did not release the coin, their customer care was very fast and demanded for video recording of the transaction which I provided and I do not think it takes 30 seconds when they release the coin for me.

I do not see any problem on Palmpay. You can not delete any transaction on Palmpay by yourself.

Bybit has been putting up that warning a while because a lot of users started acting fraudulently on their P2P platform which was part of the reason most p2p platforms preferred OKX, Kucoin, Binance over Bybit because if we're being honest, their customer support is very shitty and any fraudulent user can easily run away with your money and Bybit CS won't do anything about it. The best way to avoid  the issue is just to avoid palmpay but if you still go ahead to trade, the palmpay user on the other side of the trade should be reputable enough. A quick look at their profile will provide this information.

Metrics like:

• Trades taken and how many were actually compared
• Good old reviews/feedback.

All these issues are from PalmPay because I once heard something like schedule transfers where they will send you a fake alert and you will see the money sent to you, but after the time that the place is set as the schedule, the money will be nowhere to be found, and now they allow people to delete their transaction history. All I will say is that this is a plampay of a This is just to support the scammers and make all of this an advantage to them so that they will be able to reach as many people as they can. If not, what is the use of creating all these futures in a bank app when they know that banks are known for keeping authentic records so that, in any situation, they will most likely be a reference and evidence.
 
So thanks, OP, for the scam update. We will take it into consideration so that we should not be victims of any of these scammers because they are very intelligent. We just have to be so careful to stay away from them. If not, only God will save you from them. 

This Palmpay of a issue na something wey dem just Dey get issue with tey tey, I remember one time Wey something like schedule payment Dey the app, person go use the thing send you money and the receipt go Dey well, and na schedule transactions wey be say till him get money wey be say till the person put money na him the payment go come. As we all know the scammers will never send money to that account to complete schedule. If someone doesn’t get this information forehand they easily fall victim of such cases. I think this is the same thing here

I think the problem is from Palmpay because I no understand how dem go dey allow people dey delete their transactions history but e no go too worry you if you get proof say you dun pay them and you dun generate receipts to send to support if you find yourself for this wahala. Bad eggs go just dey spoil everything wey dey put food for man table. Why you go wan scam when you fit hustle well invest for Bitcoin and they cashout steady. Na all this yahoo boys dey vex me pass because no be say dem go use the money do better things na only to dey carry OS and they use am oppress their fellow man dem sabi.

For people wey dey use any cex p2p exchange wey still they allow Naira trading pairs, make dis one be warning to you and also for men wey dey use dex P2P because this one no be exchange problem but that of the bank. To solve this wahala we fit dey report to Palmpay customer service make dem remove that deleting features from their app make boys no dey use am scam people.

When you're too cautious of getting the best rate you end up endangering yourself to falling into scammers' hands. But why should Palmpay allow customers to delete transaction history in the first place when they know that it's always a normal thing to have multiple transaction issues that can easily be sorted out should it remain on the person's dashboard?

Some of these developers don't understand that users are the lifeline of their business and as long as they no longer feel comfortable with the app, it's way easy to get an alternative source in a split second.

You know why most people are getting into troubles in the P2P is that they are chasing higher price, without even considering the safety of their transaction. Once they see an advertiser with a high price they will fall for it without even considering the person trust score and how many successful trades they have carried out. With Binance, Okx, and Kucoin P2P gone for now, all the scammers are now focusing on Bybit, not that they are not in other platform but bybit own is getting too much.

You will see some ads that's far above what the current dollar to naira value is and some people will be rushing to do business with these set of people, and most times it turns out that these set of people are scammers. It's good we also consider the successful transaction over higher prices. I don't see any big difference between #1,480 and #1,500. It's best you trade with someone who has been trading for long and has a good trust score of 95% and above, and with a realistic dollar to naira price than fall victim to someone who is offering a higher price.

I saw this warning in Bybit the other day when I was trading, and ever since then I have been avoiding people who use Palm pay account, not only in P2p trading alone but also in other aspects of business transactions. Even if I go to buy something for shop and na Palm pay account dem give me, I dey request for another account, I no wan her stories. Make we no just keep this thing to ourselves, make we try tell our family members, wey no dey do crypto but are in financial dealings out there, make dem no go fall victim of this things. No be only crypto traders wey dey use Palm pay and scam is not just limited to crypto P2P alone. These scammers dey everywhere for our country.

Amphenomenon, I owe you one merit for this. As soon as I get any I'll send to you. You amazing for taking up the initiative to bring this up. It's funny how I have seen this warning a thousand times on ByBit and it hasn't for once occurred to me to bring this to the notice of the community here. Thinking about it now, I'll say it is probably because I use OPAY only for these transactions. However this is very timely. Everyone should take note of this and pay attention to details.

I make use of Bybit but this is the first time i am seeing this i guess i am lucky for not falling victim. Scammers are just going to any extent just to steal from people and i am surprised how palmpay bank have made this possible, they shouldn’t have made the feature available where a user can delete recent transactions. This will definitely bring disputes among people. It’s a good thing you brought this to our notice here and it’s good that the Bybit exchange made this notice public for every user to see in order to be cautious about transacting with Palmpay users.

Thanks for the info though the first place, I never dealt on Bybit exchange but wetin dey make people fall victim of p2p scam na greediness, scammer dey mostly set high prices where greedy people dey fall well well because them want sell get better money.

Stay informed guys and be cautious always.

For those that make use of Bybit exchange, they would have been used to this kind of warnings because i also see something related to this but not as exactly on warning concerning the particular bank involved Palmpay, i don't see anything related from the use of palmpay to the use of p2p for an exchange rendering user on risk for loosing account, though I've seen some users as well on the p2p platforms claiming fake transactions and if you didn't verify well before making confirmation, you will loose your asset for scam, however, concerning the use of banks and the warning on the use of palmpay, i think what applies to one also will comes after the others, we should be careful and security mindful of not being a victim on any target for an attempted attack.

Messages like this deserve merit but I’m already short of merit and I want to sincerely thank you for bringing a crucial message like this to the community.
P2P transactions are already becoming very risky this days especially with the whole drama going on with exchanges and country restrictions but personally I always tell people make sure they confirm their transactions before releasing their assets and this warning is shown when using most exchanges.

People have to take their safety very personal when using p2p exchanges and if possible, get a good vendor from the exchange and stick to them as this very step will help you stay safer out in the p2p market

I don't know how many of you might have seen this but I will like to bring this to out our notice.
This is a warning from Bybit that means others have fallen victim of it already, so we ought to be guided to avoid being victimised.

With the warning from Bybit, palmpay users being able to delete transaction record means once you send money to them, scammers can delete the transaction information and claimed they had not received it with a proof of not receiving such amount from their transaction history.

I also saw something about palmpay users being able to reverse transaction and so we ought to be cautious or avoid others using it, this was from a crypto WhatsApp group.

I don`t really know how scammers are being able to do this with palmpay but if this warning is coming from Bybit then we need to be cautious of palmpay users during p2p not just in Bybit but other exchanges and general in other business.