Hello Binance users,
If you’re using the Binance crypto exchange, this message is for you.
Many of you regularly buy or sell USDT or USDC, sending or receiving funds via bank transfers. But how secure is this process, really? Let’s go over some common P2P scams to watch out for—so please read carefully.
Buying Scam:
When buying USDT or USDC, you transfer money to the seller’s bank account. But what happens if the seller receives the payment and doesn’t release the crypto? In such cases, you can file an appeal on Binance, and if your claim is valid, you may get your crypto or funds back.
Unfortunately, scammers sometimes pose as sellers to exploit this system. This is a frequent form of fraud in P2P transactions.
Selling Scam:
When selling USDT, you’re expecting a bank transfer from the buyer. Some scammers, however, may send fake payment confirmations without transferring any funds. Always check your bank account to confirm the money has arrived before releasing your crypto.
Stay Vigilant:
Whether buying or selling, always stay cautious. A few extra seconds of vigilance can save you from a costly mistake.
Final Note:
If there’s any error in this message, I sincerely apologize.
That’s all for now—stay safe and take care.