The seller confirmed receiving the money. Then asked the buyer to cancel the P2P order.
That is where a normal trade can turn into a recovery problem.
A buyer pays for USDT. The seller says there is a technical issue — maybe the ad was wrong, the bank account has a problem, or the order needs to be recreated. Then comes the reassuring line: “Cancel this one. I’ll refund you.”
It sounds harmless because cancel feels like Undo.
But it is not.
Before cancellation, the payment, chat, counterparty and escrowed crypto are still tied to one live P2P order. The moment the buyer cancels after paying, the bank transfer does not reverse with it. The fiat is already outside Binance, while the order that connected it to escrow has changed state.
A real forum case followed this pattern: the seller acknowledged receiving payment, pushed the buyer to cancel, then never delivered the USDT or the promised refund.
Binance’s own rules explain why this matters. If an order is canceled after the buyer has already paid, Customer Service can contact the seller for a refund, but recovery is handled separately and Binance says it cannot guarantee the funds if the seller refuses to cooperate. Binance also provides a specific appeal flow for canceled orders that were already paid.
That makes “cancel after payment” different from “cancel before payment.”
Before money moves, canceling ends an unwanted trade.
After money moves, canceling does not undo settlement. It can turn an active escrow-backed transaction into a dispute about recovering fiat that has already left the buyer’s bank.
So if a seller asks me to cancel after payment, I would not trade an active order for a private promise. I keep the receipt, Order ID and in-order chat, and use Appeal instead.
The question is not simply, “Can this order be canceled?”
It is:
“What protection am I giving up when I cancel it?”
A cancel button can close the order.
It cannot pull the bank transfer back.
#binancep2pantoan @Binance Vietnam
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