Binance’s Person-to-Person (P2P) trading is one of the most used tools for quickly converting cryptocurrencies into local currency. However, scammers are always looking for ways to take advantage of users’ carelessness.
1. The sacred rule: Check your bank account, NOT the Binance app
The most common scam happens when the buyer marks the transaction as "Paid" on Binance before transferring the money.
What you should never do: Release your crypto assets just because you received a notification in the app or an email.
What you should always do: Open your bank app or log in to your online banking and check that the balance is actually available in your account.
2. Watch out for fake payment receipts
Scammers often attach screenshots or fake transfer receipts in the Binance chat.
Remember: An image or PDF receipt can be edited in seconds. The only real proof is the money reflected in your bank balance.
3. Only accept transfers from the account holder
Before confirming any transaction, verify that the name of the person transferring the money to you at the bank matches exactly the verified account holder name on Binance.
Reject payments coming from third-party accounts (friends, family, or the buyer’s unknown acquaintances).
Third-party transfers are often part of triangulation schemes to scam you or get you into legal trouble.
4. Ignore WhatsApp or SMS messages
All communication must be kept strictly within the official Binance chat. If the counterparty asks you to continue the conversation via WhatsApp, Telegram, or a phone call, reject the request immediately. Binance will never be able to protect you if you negotiate outside its platform.
5. What to do if there is a problem?
If the buyer marked the order as paid but the money does not appear in your bank after a reasonable amount of time:
Do not release your cryptocurrencies under any pressure or threat.
Press the "Appeal" button within the order.
Attach, as proof, a statement or screenshot of your most recent bank transactions showing that you have not received the payment. The Binance support team will step in to freeze the funds and resolve the case.
In summary: Check your bank, confirm account ownership, and don’t release until you have absolute certainty that the money is yours. The security of your funds is in your hands!