Please Be Careful With Binance/Others P2p

[Agbe]

This happened to last month or thereabout and and yesterday again it repeat itself. I place an order to sell coins and in Binance, we are warned that we should received the money before releasing the coins to the buyer and if you release your coins, and the transaction failed, or the vendor did not send you the money, Binance will not reliable for your negligence and you are on your own. So after when I had planned the order, I waited for like 40 minutes for him to send the money so I could released the coins. And finally the guy said he has send the money but me I have not received the money. But the release link has shown yellow.

And I refused to release the coins since I have not seen the money in the bank account, and the guy was disturbing to release the coins but I refused. And later the guy asked me to send him another account number and I did, and he send the money to the second account number and I received the funds and I also released the coins.

All what I am saying here is, mostly to those who are not aware of this please be careful when dealing with vendors in Binance and any other exchange. Don't release your coins when you have not received your money. If the matter is serious tell the person to send you a screenshot of the payment slip. And make such you check the date, time and, minutes to know the exact time the transaction took place. And if all the information are correct then you can release the coins, because there are some times that the delay is from your side. But be careful. And how many of you have experienced that before?

[1714799090]

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[Charles-Tim]

If the matter is serious tell the person to send you a screenshot of the payment slip. And make such you check the date, time and, minutes to know the exact time the transaction took place.

If you did not see the money on your bank account by checking you bank account through either the web or app, do not send the money until you see the money credited into your bank account. Do not ask for screenshot, it can be fake. The coin is on Binance, the only thing the buyer can do is to report you, but Binance will not do anything if you are not manipulating and able to defend youself with statement of account if need be. It is easy for a buyer to scam than a seller.

[Agbe]

If the matter is serious tell the person to send you a screenshot of the payment slip. And make such you check the date, time and, minutes to know the exact time the transaction took place.

If you did not see the money on your bank account by checking you bank account through either the web or app, do not send the money until you see the money credited into your bank account. Do not ask for screenshot, it can be fake. The coin is on Binance, the only thing the buyer can do is to report you, but Binance will not do anything if you are not manipulating and able to defend youself with statement of account if need be.

Yes that is true, but there was a time Binance has released my coins for a buyer because I didn't release the coins for the buyer. On that faithful day, after placing the order, I slept off and the lady called me to release the coins because I dropped my contact on the chat box, and reported me so Binance made a request from her site and she sent them the screenshot, so they released the coins for her and dropped a very big bogus written note for me to read. Men I read only the first paragraph and I became tired. And since they have already released the coins, I only called the lady back and apologized and she accepted my apology.

[Charles-Tim]

Yes that is true, but there was a time Binance has released my coins for a buyer because I didn't release the coins for the buyer. On that faithful day, after placing the order, I slept off and the lady called me to release the coins because I dropped my contact on the chat box, and reported me so Binance made a request from her site and she sent them the screenshot, so they released the coins for her and dropped a very big bogus written note for me to read. Men I read only the first paragraph and I became tired. And since they have already released the coins, I only called the lady back and apologized and she accepted my apology.

Binance ask the woman for payment screenshot or statement of account? Before the coin can be released for the women, that means Binance has seen evidence that the women paid the money. I do not think screenshot can easily give that without doubt, but if the woman downloaded her statement of account and send it fast, that is still better of a valid evidence than a screenshot that can be easily manipulated.

I remember a day that I used BinanceP2P. The buyer messaged me that he as sent the money but I did not see it. He sent the screenshot of the payment from GTBank which looks suspicious to me as ₦10 was also deducted. I may be wrong but the payment was suspicious to me. I told the buyer to contact his bank customer care. He sent me message that he contacted the bank customer care and said it was a technical issue that they are working on it. After a day or two days or so, he messaged me that he has seen the money in his bank. I told him to send the money so that I can release the coin, he did not but cancelled the transaction.

[Zanab247]

Good update bro, I think many people will learn lesson from this your transaction you experience with binance vendor yesterday and I like the way you show your wiseness not to release your coins without receiving alert and confirm the particular amount agree on in your account. like me in the binance P2P, I must receive alert and confirm it before I will respond to the vendor that I have received the payment because there are some vendor using fake alert, and once you discovered the vendor fake alert he or she will quickly tell you sorry it's a network error let me resend it again before the money will appear in your account. Well, anybody that will fall victim in this kind of scammers in binance P2P vendor is not the fault of binance P2P because it is your duty to confirm the money first in your account because releasing that coins.

[Makus]

Yes that is true, but there was a time Binance has released my coins for a buyer because I didn't release the coins for the buyer. On that faithful day, after placing the order, I slept off and the lady called me to release the coins because I dropped my contact on the chat box, and reported me so Binance made a request from her site and she sent them the screenshot, so they released the coins for her and dropped a very big bogus written note for me to read. Men I read only the first paragraph and I became tired. And since they have already released the coins, I only called the lady back and apologized and she accepted my apology.

Binance ask the woman for payment screenshot or statement of account? Before the coin can be released for the women, that means Binance has seen evidence that the women paid the money. I do not think screenshot can easily give that without doubt, but if the woman downloaded her statement of account and send it fast, that is still better of a valid evidence than a screenshot that can be easily manipulated.

Wow, so binance can actually complete a trade without the permission of the person holding back, I'm impressed.
Please I have a question, what if after the report by the lady and providing transaction evidence, binance try to reverse the transaction but the money has already been withdrawn by the other business partner

[Zaguru12]

If you did not see the money on your bank account by checking you bank account through either the web or app, do not send the money until you see the money credited into your bank account. Do not ask for screenshot, it can be fake. The coin is on Binance, the only thing the buyer can do is to report you, but Binance will not do anything if you are not manipulating and able to defend youself with statement of account if need be. It is easy for a buyer to scam than a seller.

This is definitely a good warning to all, do not take screenshots as evidence because they could easily be manipulated, in fact if not now there was a thing called schedule on palmpay then that you will get a receipt for sending fake alert and if the person believes it then there funds is gone.

Base on experience early this year, some binance vendor tried same thing with me, I wanted to sell some bitcoin and he sent me a fake receipt that he sent it from GTbank, luckily for me I used Opay then because of bank troubles during cash crises then. When I checked my account balance nothing was there and the transaction history didn’t show any pending transactions because if it was actually sent Opay will have a pending transaction there.

When I returned to tell the vendor about it he told me it was my bank that I should release it and the money will arrive later I declined and he threatened to report to the support but before he could do that I reported first and then the support asked him for the receipt and ask me to chat with my bank support too after the live chat with Opay they blatantly told me that the transaction ID on that receipt doesn’t exist on there database so I got back to the support only for him to lie that the money has been reversed back to his account. He then cancel the transaction instead of even continuing which clearly shows he didn’t he no money to pay then but wanted to pull that trick from first place, had I been naive to realize the coins then I would have been scammed.

[Charles-Tim]

Wow, so binance can actually complete a trade without the permission of the person holding back, I'm impressed.

This is how it is on CexP2P. Also on P2P (I mean decentralized P2P like Bisq and Agoradesk), they make use of 2-of-3 multisig which makes escrow possible. If you follow the right things to do, you will not be scammed.

Please I have a question, what if after the report by the lady and providing transaction evidence, binance try to reverse the transaction but the money has already been withdrawn by the other business partner

Binance can not reverse the transaction if the woman was able to withdraw it because the coins has been given the woman. But I do not know how Binance will handle such situation. Maybe if Binance releases the coins, but the woman will not be able to withdraw the coin and wait for the seller to respond. But we should not think of it this way.

[Wiwo]

Yes that is true, but there was a time Binance has released my coins for a buyer because I didn't release the coins for the buyer. On that faithful day, after placing the order, I slept off and the lady called me to release the coins because I dropped my contact on the chat box, and reported me so Binance made a request from her site and she sent them the screenshot, so they released the coins for her and dropped a very big bogus written note for me to read. Men I read only the first paragraph and I became tired. And since they have already released the coins, I only called the lady back and apologized and she accepted my apology.

Agbe yes that can happen in p2p exchange where one party reports/dispute the trade and being able to provide sufficient evidence,  and the other party in the other hand doesn't keep in touch,  binance or any other crypto exchange you are using like Remitano will go ahead verify the payment and release the coin to the buyer.

I have experienced that on remitano a couple of times before where I lost my 2FA security and couldn't verify payment on the account,  so what I do when I want to use that account to exchange my Bitcoin,  is to always reach out to support to help confirm the trade once I have seen the money in my bank account.

Agbe also be careful when someone asks for an account number outside the one provided on the exchange,  this can aid the buyer to pay you through a third-party account without your knowledge and that can lead to troubles since most hackers could make such third-party payment through the victim accounts and if investigated all accounts that transactions flow into may be implicated.

That is why, Binance or other cryptocurrency exchanges always warn against third-party parties,  aside from the one stated on the exchange account.

[sokani]

Thank you Agbe for dis topic and I find am very educative. Afta Brainboss topic wey im ask how we dey take sell cryptocurrency and many persons bin give their feedbacks. Naso I take run go try Remitano, afta I place my order I com receive a deposit address wia I send my coin. I waited for 2 hours nothing drop naso I sleep off. Wen I wake up di next morning alert don show for my phone. That was my first P2P trade on exchange and I no really get idea say I suppose confirm to Remitano say I don receive di money.

With wetin you dey talk na e come clear for my eyes wetin really happen, becuz wen I open di app afta a week I bin receive a warning message from Remitano. Dat was di first and only time I use dem. With your advice I believe say I no go make dat kind mistake again and I don know beta how to use CEX P2P.

[Stable090]

E don happen to me multiply times, if I dey use p2p for binance, I dey always make sure say money dey my account first before I go release coin, even if I see say I receive alert I no still dey trust am until I check my account balance and I see say money don enter, because I don hear am before say some of those merchant wey dey binance dey send fake alert. If I don see person dey pressurize me say make I release coin and I never receive money, e dey very suspicious, person wey really dey honest no go dey pressurize you make you release coin even as u tell am say u never receive money.

I don sell coin before, d merchant talk say him don send money and I tell am say I never receive, him tell me say make I no worry anytime wey I receive money make I release d coin, him talk say maybe na bank network, e take like 1 hour before I receive d money and d guy no disturb me say make I release coin give am.

Scammers plenty for that binance p2p na y we need dey very careful if we wan trade for there be that, no allow anybody pressurize you unnecessarily say make u release coin if u never see money for your account.

[CryptSafe]

It is simple. If I do not receive an alert showing me the account has been credited by the buyer with his or her name reflecting the same as that on the p2p platform OMO forget o. I not release anything not until you have proved beyond reasonable doubt that such payment is in line with Binance payment or transaction policy and it is coming from you because any small pkam your assets don go be that o. So everybody needs be alert and careful because these men dem no get joy o.

[Mate2237]

It is simple. If I do not receive an alert showing me the account has been credited by the buyer with his or her name reflecting the same as that on the p2p platform OMO forget o. I not release anything not until you have proved beyond reasonable doubt that such payment is in line with Binance payment or transaction policy and it is coming from you because any small pkam your assets don go be that o. So everybody needs be alert and careful because these men dem no get joy o.

But from what others has said, even though you no release when the person report the matter and when Binance finally confirm sae di buyer don pay the money to your account, dem go release the money unbehalf of di seller. And that can give give you a negative feedback in the platform. So to avoid all those things you have to do it when the funds has been received with the exact amount you place the order. Scammers full Binance, people don complain tire for dis kind things from Binance, so what do op and Charles-Tim dey sae na correct thing, make we dey very careful with those jungle scammers. Though good ones are there but di bad ones nai dey spoiled their names.

The p2p exchange is not always safe but it is the backbone for bitcoin, and the fear is always the unknown end of the transactions. Upon all that, p2p is still the best option of them all.

[SmartGold01]

As a regular trader or user you should know that this is not new anymore because whomever that fails to understand may constantly lose their funds and I have never experienced this before why because when trading I do use bank that quickly delivered.
For instance, you can use Opay or Moniepoint.. this app doesn't waste time immediately they sent you money you received alert as moved them out to your main account because I don't trust those app so I won't recommend you to leave your fund over there for 24hrs without you sending it out to main account.

[Kelward]

Wetin worry me for dis matter be say binance, de like fiat bank for matters like dis, people de rely on any information wey dem see say di exchange give, to be authentic. As dem don approve di transaction, and dat one on it's own suppose be assurance say di money don enter. Anyway e de good say you know wetin de, and refuse to release your bitcoin, odawise binance for deny you like Judas, tell you say you de on your own, notwithstanding say na dem show you say di transaction de successful.

From dis your thread make me de wonder weda person fit to sue di exchange, if di person lose money based on di exchange misinformation or negligence. Because person wey de new to binance fit fall prey to dis scammers, just because im rely on di information wey dem give am.

[Asiska02]

I think this was one of the first guidance I was given when I wanted to start using P2P for the first time in binance long time ago. I’m a person that’s very skeptical about online trading and very careful not to get scam or fall in the hands of scammers whatsoever. I haven’t actually experienced such scenario of buyer clicking on payment sent when they haven’t actually sent it.

The only one I experienced was that he clicked on payment sent and I didn’t receive the money on time which I needed to use the money urgently, I reported him since I waited for hours and couldn’t use the money and the coin was already freeze by binance and can’t initiate a new trade without finishing that one. It was a long process but I later received the money after 6+ hours and it was caused by network issue from the banks.

[CryptSafe]

It is simple. If I do not receive an alert showing me the account has been credited by the buyer with his or her name reflecting the same as that on the p2p platform OMO forget o. I not release anything not until you have proved beyond reasonable doubt that such payment is in line with Binance payment or transaction policy and it is coming from you because any small pkam your assets don go be that o. So everybody needs be alert and careful because these men dem no get joy o.

But from what others has said, even though you no release when the person report the matter and when Binance finally confirm sae di buyer don pay the money to your account, dem go release the money unbehalf of di seller. And that can give give you a negative feedback in the platform. So to avoid all those things you have to do it when the funds has been received with the exact amount you place the order. Scammers full Binance, people don complain tire for dis kind things from Binance, so what do op and Charles-Tim dey sae na correct thing, make we dey very careful with those jungle scammers. Though good ones are there but di bad ones nai dey spoiled their names.

The p2p exchange is not always safe but it is the backbone for bitcoin, and the fear is always the unknown end of the transactions. Upon all that, p2p is still the best option of them all.

Nobody go withhold funds to person wey follow due process for transaction. Naim make binance dey talk say make buyers and sellers dey make sure say the payment evidence dey inline with the name wey dey registered for binance so I see no reason why person no go release assets wey dem don pay for already. Even if dem report you, you too go to tell binance say name wey pay no match with wetin you see for online. After all Na same binance dey tell to dey extremely cautious because if we release assets without confirmation we dey on our own. So you get dey vigilant.

[Hyphen(-)]

All what I am saying here is, mostly to those who are not aware of this please be careful when dealing with vendors in Binance and any other exchange. Don't release your coins when you have not received your money. If the matter is serious tell the person to send you a screenshot of the payment slip. And make such you check the date, time and, minutes to know the exact time the transaction took place. And if all the information are correct then you can release the coins, because there are some times that the delay is from your side. But be careful. And how many of you have experienced that before?

Bros, even if him send screenshot wey show say the transaction don already dey successful from his/her end, don't release coin because some of them fit use fake alert to deceive us.

I have experience such things more than once in the past, some of them will letter cancel the trade if they disturb you and you didn't release coin for them, that is why I chose to be using Opay so that you no go tell me say na my bank issue, we all know say Opay na one of the fastest when it comes sending and receiving of money so once the vendor talk say him don send, I de go stright to my Opay app to confirm, once I confirmed then I release his coin for him.

[Sim_card]

It is easy for a buyer to scam than a seller.

This is the main reason why the buyer is asked to send to bank account first because Binance knows that anyone that is selling has a purpose for doing that and needs fiat. That is why we should use apps from banks or palm pay and opay or Kudda  to receive payment in other to see the funds,immediately the buyer sends it. If you dey use only bank account, alert might be a problem because of bank network but with apps,you will see the funds when done. I haven't witness this but anytime I receive a call from the merchant that he has sent the money, I go straight to check my balance before releasing the coin

[Fivestar4everMVP]

This is a very good advice, most especially for newbies, those who are very new to binance p2p, and not just binance, but on other p2p platforms like Remitano, Paxful and so on, i have used all of this platforms and I tell you all that, scammers are everywhere, and if you loose your guard, they go use you chop, many times i have encountered same issue both on Binance p2p and Remitano P2p, (I stopped using paxful for some time now), what I usually do is that, immediately the buyer signaled that he or she has sent the payment, and I check my account and find nothing, i immediately put the trade in dispute mode and let the buyer know in the chat that I have not received the payment, and that i will release the trade immediately I get his payment, what ever he or she is saying after this is up to him, I wont bother or disturb myself, until I get the payment, before I release the trade, I have never released a trade without receiving money first, no matter how bad the banking network is, I must make sure to receive my money before I release trade..

And to make things a bit easier for me and the buyers I trade with, I use Opay to receive money, Opay does not waste time to credit your account immediately money comes into it, even when banking networks are down, they will still credit your account as soon as they confirm funds come in.