P2P experience
I would like to share my p2p experience with everyone. So recently I’ve got into listing my USDT for NZD, as a seller. Most of the time its straight forward, people make an order, transfer to the bank, I release the USDT. Done.
But recently, one morning I had multiple orders, one particularly suspicious, make an order then cancel , order , and cancel like 3 times. Then suddenly I have this amount showing up in my bank account and it didn’t match anyone’s request, nor pending orders for that amount. So I called up the bank to let them know, please revert this payment because it’s a payment that I wasn’t expecting. So the bank said because it was a walk in, where a person went to the branch to make a deposit, they couldn’t just revert it. They will need to contact that branch to deal with it, in the meantime just leave the fund there. So I said, alright. And all this was in the morning.
Then later that afternoon, I had an order coming in for the same amount as the money I received in the morning claiming that it belongs to them. No names provided on the receipt, and names provided doesn’t match with the one displaying on their Binance account. Therefore it’s considered as a third party transfer, which is a red flag. So of course I didn’t go through with the order and appeal, and it’s still pending as the bank still working on returning the fund.
Now, this is what I learned. Even if peope transfer you money into your bank account first, you still can be scammed! It’s unbelievable, so they do third party transfer, once you release the USDT, they get the fund reverted. So you lose your USDT and you don’t get any money…. So… be careful out there everyone and always follow the process setup by Binance, its there to help you and prevent you from being scammed, even though the process is tedious.
Happy trading!
I would like to share my p2p experience with everyone. So recently I’ve got into listing my USDT for NZD, as a seller. Most of the time its straight forward, people make an order, transfer to the bank, I release the USDT. Done.
But recently, one morning I had multiple orders, one particularly suspicious, make an order then cancel , order , and cancel like 3 times. Then suddenly I have this amount showing up in my bank account and it didn’t match anyone’s request, nor pending orders for that amount. So I called up the bank to let them know, please revert this payment because it’s a payment that I wasn’t expecting. So the bank said because it was a walk in, where a person went to the branch to make a deposit, they couldn’t just revert it. They will need to contact that branch to deal with it, in the meantime just leave the fund there. So I said, alright. And all this was in the morning.
Then later that afternoon, I had an order coming in for the same amount as the money I received in the morning claiming that it belongs to them. No names provided on the receipt, and names provided doesn’t match with the one displaying on their Binance account. Therefore it’s considered as a third party transfer, which is a red flag. So of course I didn’t go through with the order and appeal, and it’s still pending as the bank still working on returning the fund.
Now, this is what I learned. Even if peope transfer you money into your bank account first, you still can be scammed! It’s unbelievable, so they do third party transfer, once you release the USDT, they get the fund reverted. So you lose your USDT and you don’t get any money…. So… be careful out there everyone and always follow the process setup by Binance, its there to help you and prevent you from being scammed, even though the process is tedious.
Happy trading!