P2P Scam And How To Avoid Becoming A Victim.

[Jaycoinz]

That was a nice and excellent list you just came up with my friend, and I think you missed another important measures users need to take to avoid scams on p2p platforms, which is to always check the trust rating of the individual they wishes to execute a p2p trade with, of is the user verified or not. Because on the p2p section of most exchanges like Bybit & co, we have a lot of unverified merchants who scam people on a daily basis by tagging a high buy/sell price to their offers just to attract users. Which is why it's advisable that people only trade with only verified merchants on these p2p platforms, to avoid been scammed.

Since I been dey find person wey go actually mention this exchange being bybit because there are only one's that have such p2p scamming vendors and that's what make me dislike that exchange so much and again there are several times where the actual price is off the chat and yet these vendors tend to fix it on their ads and when you pick one to trade they then start calling you and requesting you finish the trade off the app which is most certainly a NO NO for anyone who knows what he or she is doing.

[GiftedMAN]

That was a nice and excellent list you just came up with my friend, and I think you missed another important measures users need to take to avoid scams on p2p platforms, which is to always check the trust rating of the individual they wishes to execute a p2p trade with, of is the user verified or not. Because on the p2p section of most exchanges like Bybit & co, we have a lot of unverified merchants who scam people on a daily basis by tagging a high buy/sell price to their offers just to attract users. Which is why it's advisable that people only trade with only verified merchants on these p2p platforms, to avoid been scammed.

Since I been dey find person wey go actually mention this exchange being bybit because there are only one's that have such p2p scamming vendors and that's what make me dislike that exchange so much and again there are several times where the actual price is off the chat and yet these vendors tend to fix it on their ads and when you pick one to trade they then start calling you and requesting you finish the trade off the app which is most certainly a NO NO for anyone who knows what he or she is doing.

No be only for Bybit way the p2p scamming dey happen e dey happen for all the exchanges if e never happen to you for another exchange no mean say e never happen for another person the only thing na just to dey careful so that you no go make the mistake make the scammers no use your money flex.

You see that idea way them go call you to request make una run why trade off the app, no ever answer them because once you don build small trust with them the next thing na to ask you to send your coin first make them pay you and if you try am your coin don go be that.

[Davidvictorson]

So as usual after the buyer has confirmed their payment, we go to our bank to confirm our receiving it. I went to confirm and then returned to my app to release coins but on getting there the coins were already released to the buyer. I also have my 2fa authentication on but the coins were just sent without any verification nor my approval.

Na wa o
This kind thing they fear person o. Abeg which exchange be that? Me never experience this kind before but e be like say plenty people don experience am. Had it been say na that direct payment with the exchange that one sef you nor go too fear about this possiblity of scam because na direct trade with the exchange to your bank and not another trader.

I experienced same thing yesterday in Bybit , my coin released just like that without me using google Authenticator which was kinda crazy and scary at same time . And it was also my first time experience it too just imagine that it happened before the buyer paid , the drama go for long .

I nor know why e happen like this but you fit still change from the authenticator to email options. Email option dey comfortable and secure for me.

[Smartvirus]

So as usual after the buyer has confirmed their payment, we go to our bank to confirm our receiving it. I went to confirm and then returned to my app to release coins but on getting there the coins were already released to the buyer. I also have my 2fa authentication on but the coins were just sent without any verification nor my approval.

Na wa o
This kind thing they fear person o. Abeg which exchange be that? Me never experience this kind before but e be like say plenty people don experience am. Had it been say na that direct payment with the exchange that one sef you nor go too fear about this possiblity of scam because na direct trade with the exchange to your bank and not another trader.

Watin Dey surprise me be say, some people say them don experience this kind thing, like… watin be this!

The few times I don Dey shocked say, coin was released without me having to approve na times way, instead of regular p2p, I go click person way use naira e-wallet on p2p way be say, the exchange go just credit you naira on their exchange directly rather than send to your bank.  Na you go from there transfer to your bank but, no be option way I Dey like. E fit easily Dey tracked by banks.

Other than this, I never experience this kind thing and hope not else, na me and support o!

[Hatchy]

Na wa o
This kind thing they fear person o. Abeg which exchange be that? Me never experience this kind before but e be like say plenty people don experience am. Had it been say na that direct payment with the exchange that one sef you nor go too fear about this possiblity of scam because na direct trade with the exchange to your bank and not another trader.

It was actually on bybit, I guess a lot of us here use bybit for our p2p trades. I was also surprised as that had never happened to me before. Nonetheless we just have to be careful while picking a vendor so we dont fall victims by mistakes made by us or the exchange platforms.

[B-BossMan]

I know say we don discuss this topic many times here but I still need to add something because I never come across anybody wey don talk about am with pigin english and nobody don really talk how we fit take avoid becoming a victim to the p2p scammers.

It doesn't mean OP, even if this can be discussed everyday " hee go better and her serve as a reminder to all,( E just be say your friend dey plan put him hand inside fire, you come dey stop am from going there, ) at times for a person to fall into their hands no mean say the person no know wetin he dey do, but if we dey give full concentration to anything transactions online, things go better, though some scammers no be ordinary Shaa, in that case pay full attention to everything wey we dey do.
Dey fit scam you by not paying attention to what you're doing Thinking that you're right.
dey fit scam you by too much trust on anyone, no be everybody wey you see online u go dey trust ooo.
Your privacy 🔏 lies on you, no dey disclose your secrets things to anybody.
Be at alert.

[odunybiz]

I meant to create a topic about my experience 3 days ago while doing p2p. Till now I'm still confused what actually happened and I was going to ask the community if anyone has experienced such before now.
So as usual after the buyer has confirmed their payment, we go to our bank to confirm our receiving it. I went to confirm and then returned to my app to release coins but on getting there the coins were already released to the buyer. I also have my 2fa authentication on but the coins were just sent without any verification nor my approval.

I've not experienced such thing in my years of trading p2p and till now I'm still trying to get my head around what actually happened. But then let's all be careful. Imagine this was a scammer who didn't send the money and the exchange had already released my coins without my approval.

This is the fault of the exchange and a very big challenge at that. I know the exchanges we have now are so complacent as there are numerous reports of their poor handling of issues. When Binance and Kucoin were operational in Nigeria, we did not hear much of this kinds of new, their exit paved way for some of these poorly managed exchanges to become popular. You are just lucky you did not lose your money because there was little you could do about it.

I think this people should make complain to the exchange about this odd incident. Let's assume the buyers are scammers, then the exchange has made them lose their coin. If everyone that this happened to just accept it as mistake without no complain to the exchange, then they may no do anything to rectify the problem and as time goes on scammer will definitely be making use of this advantage to scam people.

[CryptSafe]

That was a nice and excellent list you just came up with my friend, and I think you missed another important measures users need to take to avoid scams on p2p platforms, which is to always check the trust rating of the individual they wishes to execute a p2p trade with, of is the user verified or not. Because on the p2p section of most exchanges like Bybit & co, we have a lot of unverified merchants who scam people on a daily basis by tagging a high buy/sell price to their offers just to attract users. Which is why it's advisable that people only trade with only verified merchants on these p2p platforms, to avoid been scammed.

Since I been dey find person wey go actually mention this exchange being bybit because there are only one's that have such p2p scamming vendors and that's what make me dislike that exchange so much and again there are several times where the actual price is off the chat and yet these vendors tend to fix it on their ads and when you pick one to trade they then start calling you and requesting you finish the trade off the app which is most certainly a NO NO for anyone who knows what he or she is doing.

No be only for Bybit way the p2p scamming dey happen e dey happen for all the exchanges if e never happen to you for another exchange no mean say e never happen for another person the only thing na just to dey careful so that you no go make the mistake make the scammers no use your money flex.

You see that idea way them go call you to request make una run why trade off the app, no ever answer them because once you don build small trust with them the next thing na to ask you to send your coin first make them pay you and if you try am your coin don go be that.

I remember my early days when I first started trading on the p2p platform. I encountered a vendor and we had a good deal then, and we exchanged contact information and that was how we started chatting, so one day he called me and asked me that he needed to buy USDT and he needed it urgently to pay up as he had limited time. I paused for a moment and had a thought over it, and I was wondering what happened to his exchange account. Well, I never wanted to bother myself too much so I ignored him, and he was persistent then I told him to pay first before I transfer and he said I should trust him then I asked him when we first had our deal who first initiated the payment he admitted to it and I told him if I did not release the coin for him and he admitted it so I asked him then what makes him feel I would not release his coin after he had made payment and he said it is offline and I also reminded him as I do not trust him too and that was how the blocked himself. Till this moment he has not chat me for any deal. So it is goo to be careful and alert with these vendors who demands for contact to call you because they are just scammers who wants to play cool and scam you while they can.

[Hatchy]

I went to confirm and then returned to my app to release coins but on getting there the coins were already released to the buyer. I also have my 2fa authentication on but the coins were just sent without any verification nor my approval.

I've not experienced such thing in my years of trading p2p and till now I'm still trying to get my head around what actually happened. But then let's all be careful. Imagine this was a scammer who didn't send the money and the exchange had already released my coins without my approval.

So guys, after this post, I had to figure out what had actually happened on the day I experienced this. I tried contacting the customer care service and they apologised saying they would check it out. 

But recently I discovered that the Google authenticator app actually does copy and paste automatically, which was unaware to me. I had probably tapped on the code from Google authenticator which automatically pasted it on my bybit that triggered the release of my coin.

To confirm this, I did a transaction today on p2p and when it was Time to release the coins, I went to my authenticator app and copied the code. When I returned to my bybit, it automatically pasted and the coins were released, which was what happened the other time. I'm posting this here as well for those who might experience something similar in the future and get confused.

[MainIbem]

So guys, after this post, I had to figure out what had actually happened on the day I experienced this. I tried contacting the customer care service and they apologised saying they would check it out. 

But recently I discovered that the Google authenticator app actually does copy and paste automatically, which was unaware to me. I had probably tapped on the code from Google authenticator which automatically pasted it on my bybit that triggered the release of my coin.

To confirm this, I did a transaction today on p2p and when it was Time to release the coins, I went to my authenticator app and copied the code. When I returned to my bybit, it automatically pasted and the coins were released, which was what happened the other time. I'm posting this here as well for those who might experience something similar in the future and get confused.

Yeah, I've experienced that too but not the first incident of your coin releasing to the buyer without your awareness, I mean, if you copy the code on the authenticator app and minimize back to your bybit or whatever exchange you're using, it would automatically paste on it's own, this shows that sometimes our personal errors can make us lose money and think we got scammed by someone on the P2P market, sometimes we could even give people an opportunity to scam us, cause some persons would deliberately refuse to pay up once they notice you've released the coin before they paid, we ought to be very careful so we don't lose money due to personal errors.

[Orpichukwu]

But recently I discovered that the Google authenticator app actually does copy and paste automatically, which was unaware to me. I had probably tapped on the code from Google authenticator which automatically pasted it on my bybit that triggered the release of my coin.

The day you made that first transaction and dropped that comment, you were not the only one on this thread who complained about the issue; I also experienced a similar thing that week or that very day. I think there was something wrong with Bybit; it's not just about your code copy-pasting itself, but it was about once you clicked on release, you would not be directed to the page where you needed to slot in your authenticator code to release the coin that had just been released.

If it's for the authenticator app to copy and paste code on your Bybit, it does happen, but on my end, it asks for my permission before it can paste itself, and I also have to be the one who will go to the authenticator app to copy the code.

[Mpamaegbu]

~snipped~

It's only you that can save you and not the exchange or any other third party. You need to be vigilant, don't release coin when you haven't received your full payment.

Na d reason wey make exchanges dey always put such warnings where to release funds dey or chat dey so dat everybody wey dey deal go see am clean clear. I believe sey na rush rush dey make people fall to scammers. Odawise, if anybodi cool down dem go catch scammer and dem tricks. I dey tell people not to be hasty anytime wey dem dey handle anything financial matta bc any small mistake fit destroy persin capital for life.

Double check the sender to avoid getting stolen money that it'll later affect you.

Make I even ask, e get any special way wey persin fit take find out dis even before dealing with merchants? I go like read about dat.

[Callido]

Na wa o
This kind thing they fear person o. Abeg which exchange be that? Me never experience this kind before but e be like say plenty people don experience am. Had it been say na that direct payment with the exchange that one sef you nor go too fear about this possiblity of scam because na direct trade with the exchange to your bank and not another trader.

It was actually on bybit, I guess a lot of us here use bybit for our p2p trades. I was also surprised as that had never happened to me before. Nonetheless we just have to be careful while picking a vendor so we dont fall victims by mistakes made by us or the exchange platforms.

It will soon, who knows when, you just have to be careful because day by day scammers are growing in the exchange, and by no means should you become a victim. After big exchanges denied P2P service in their exchange, only Bybit remains to issue P2P service, at least for now they are most trusted in terms of exchanging USDT for Naira.

[Cryptoprincess101]

Na wa o
This kind thing they fear person o. Abeg which exchange be that? Me never experience this kind before but e be like say plenty people don experience am. Had it been say na that direct payment with the exchange that one sef you nor go too fear about this possiblity of scam because na direct trade with the exchange to your bank and not another trader.

It was actually on bybit, I guess a lot of us here use bybit for our p2p trades. I was also surprised as that had never happened to me before. Nonetheless we just have to be careful while picking a vendor so we dont fall victims by mistakes made by us or the exchange platforms.

Most traders like picking those merchants with high exchange rates which is why they mostly have this experience often; they don't even check the percentage of the trades of that particular p2p merchant and how many people they have traded with. If i want to choose a merchant i normally go for those that have completed more than a thousand trades and have more positive feedback from traders. When i come across people talking about scam in p2p platforms it just sounds somehow to me because i haven't got such experience before.

[Nightwatchmare]

4) Watch out for fake alerts, always make few transactions when you are paid to confirm if the money still remains in your account: We know say fake alert don dey everywhere since the country hard now and most people dey always try to play smart just to scam people when them do p2p transaction, to avoid stories that touches the heart during p2p transaction you need to make use of the money wey Dem pay you buy something even though na to buy recharge card just buy so that you fit confirm if the money still dey intact before you release your coin. You fit delay the marchant but to avoid scam you need to do anything to avoid losses.

In other words, we should avoid or stop using nokia touch in receiving alerts during P2P transactions so that we will not fall victim to fake alerts because nokia touch can't detect a fake alert. We should make use of a bank that supports internet banking and a phone that can install the bank app we are using to receive payment in a p2p trade so that when we receive payment in a p2p transaction, we can easily log in to our bank app and verify if the alert is a real alert or fake alert before we release our coin to avoid any story that touches the heart.

[Ever-young]

It will soon, who knows when, you just have to be careful because day by day scammers are growing in the exchange, and by no means should you become a victim. After big exchanges denied P2P service in their exchange, only Bybit remains to issue P2P service, at least for now they are most trusted in terms of exchanging USDT for Naira.

Unless someone have bookmarked few traders who they only trust and trade their coins with on that bybit P2P running into those cheap tricky scammers one day is inevitable, as they are just everywhere and you can’t even tell if they are just group of persons or one person operating under different account and presenting different Ads.

Bybit have taken almost all Binance customers but they are not the only one offering P2P although their service is fast and they have the best rate as well compare to others which makes them stand out even with the way those bad actors want to spoil their reputation.

[CryptSafe]

snip

Unless someone have bookmarked few traders who they only trust and trade their coins with on that bybit P2P running into those cheap tricky scammers one day is inevitable, as they are just everywhere and you can’t even tell if they are just group of persons or one person operating under different account and presenting different Ads.

Bybit have taken almost all Binance customers but they are not the only one offering P2P although their service is fast and they have the best rate as well compare to others which makes them stand out even with the way those bad actors want to spoil their reputation.

The majority of the bybit p2p users are indeed from Binance, and so far, Bybit has been up and doing to make sure their p2p platform is running, but the activities of scammers are always challenging, though, and it is left for vendors to take caution while dealing. However, there are other p2p platforms but the truth still remains that scammers are everywhere, irrespective of how popular or unpopular the exchanges are; there are people who tend to want to scam others for no other reason than wanting money. This is all the more reason we should verify a vendor by having a close look at their ratings and feedback before dealing with them.

The idea of bookmarking is not a bad one but to be safe, you do not repeat transaction with a particular vendor back to back, you should always try new vendors with good ratings why I say this is because if you constantly do transaction with a particular vendor, and tomorrow anything happens that warrants financial investigation, accounts that regularly transacts with that account will be blacklisted and seized instantly by the agency and it would likely  affect you if you constantly transact with them.